"Jerusalem has fallen! My dear Boeing is finished!" This is the helpless sigh of a veteran Boeing employee. As a legendary giant in the global aircraft industry, Boeing is in a real position today. Once upon a time, Boeing dominated half the sky in the field of commercial aircraft.
And today, an unknown Chinese upstart company has snatched a large order of 30 billion US dollars from it, making this former "emperor" of the aviation industry almost ruined and retreating. Is the pearl of the American aviation industry lost like this? What's the deal with Boeing's downfall? Let's turn back the clock and revisit the rise and fall of this company.
Back in 1916, the small Boeing Company was quietly founded in Seattle. Today, more than 100 years later, it is a global giant in the manufacture of aircraft, munitions, spacecraft, and the operator of the International Space Station. Especially in the field of commercial aircraft, there is almost no one like it. It was not until the 80s of the 20th century, with the rise of Airbus, that Boeing's monopoly was broken.
But it still holds the position of the world's largest aircraft manufacturer. However, if a person has no foresight, he will have near-term worries. Just in 2018 and 2019, Boeing's star model, the 737 MAX, crashed twice in a row, shocking the world. Immediately afterward, the aircraft was grounded or grounded worldwide, dealing a blow to Boeing's reputation.
Since then, various safety accidents of Boeing aircraft have been exposed, which has plunged the company into an unprecedented crisis of confidence. Just when Boeing is gradually losing confidence and trust in the global market, an unexpected strong opponent has stepped forward - this is China's aviation manufacturing upstart, China Commercial Aviation Corporation.
Since the beginning of the 21st century, China has become the world's largest commercial aviation market, but previously all aircraft demand relied on imports. China's three major airlines have contributed hundreds of billions of dollars in large orders to Boeing and Airbus for more than 20 years, and these two companies can be said to have made a lot of money.
However, since the beginning of 2023, the situation has changed dramatically. With its self-developed C919 passenger aircraft, COMAC has inserted itself into the gap between the two major aviation giants, Boeing and Airbus.
At the end of 2023, China Eastern Airlines will give itself a shot in the arm, spending a huge amount of $10 billion to order 100 C919 passenger planes from COMAC. Subsequently, China Southern Airlines and Air China also followed suit, purchasing 100 C919 aircraft from COMAC respectively.
In just half a year, China's three major airlines have placed a large order for 300 C919 aircraft to COMAC, and the total value of this order will exceed 30 billion US dollars based on 100 million US dollars per aircraft!
It is conceivable that when this shocking news came, people within Boeing must have panicked. They have a long history with the Chinese market, and of course they are very suffocated by this "reassuring" order. After all, the C919 is the benchmark for Boeing's 737 series airliners, which is the main reason for its serious blood loss in China.
Since then, Boeing's share price has plummeted. From the moment China Eastern Airlines announced its order for C919 aircraft, Boeing's stock price has continued to decline, and as of now, the evaporated market value has exceeded 400 billion yuan, and the stock price has also hit a new low in the past decade.
This is definitely an unprecedented Waterloo in the current booming environment of the US stock market! Even senior analysts are pessimistic about Boeing's future prospects, believing that once the former "king" of aviation completely loses the Chinese market, the rest of the emerging markets will follow suit and purchase COMAC's aircraft products.
It can be said that the loss of China's 30 billion large order has greatly damaged the vitality of the former aviation hegemon, and the follow-up is weak. The C919 passenger aircraft of COMAC is in full swing, and has gradually become a "sweet and sweet" that airlines around the world are eager to eat.
After all, this new generation of mainline airliner independently developed and mass-produced in China is better than the Boeing 737 and Airbus A320 in a number of performance indicators, not only with low fuel consumption and long range, but also for its excellent noise reduction, shock absorption and other comfortable experiences.
One comment bluntly said: "It feels like being on the ground on the C919, I can't believe it's made in China!" In the face of such praise from competitors, what capital does Boeing have to be proud of? Looking at the future of the entire aviation industry, if the C919 can indeed surpass the same class of aircraft in terms of technology, with the advantages of price and service, it will definitely be able to occupy a place in the global market.
The Belle Époque, which once dominated 80 percent of the world's aviation hegemony, seemed to be an eternal dream for Boeing. Perhaps, we are witnessing the reshaping of the aviation manufacturing industry in a new era, and COMAC's C919 may become the most important driver in this reshaping process.
Finally, we might as well applaud this rising upstart Chinese brand. As a completely domestic new model, the reason why C919 can win a large order of 30 billion US dollars from China's three major airlines is that it relies on its solid technical strength and outstanding product performance. At present, the hard power of Chinese manufacturing should not be underestimated.
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