# Who are Boeing's customers? Who does Boeing earn revenue from?
Canonical: https://valuechain.wiki/boeing · Facet: customers · Updated: 2026-09-24T11:12:48.919135+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Boeing's confirmed revenue counterparties include United Airlines Holdings, Inc., Delta Air Lines, United Parcel Service, Inc. plus 5 undisclosed/aggregate relationships. Per the valuechain.wiki graph: 8 revenue edges, backed by 17 dated sources, 5 of them primary filings (as of 2026-09-24).

### 항공사 바스켓 (Qatar Airways 등) (high)
- metric: segment revenue 41,494$M · FY2025 · Commercial Airplanes segment revenue, 10-K
- note: The Commercial Airplanes segment sells 737/787/777 jets to airlines and lessors worldwide, generating $41.5B of FY2025 revenue. In May 2025 Qatar Airways ordered up to 210 widebodies (130 787s and 30 777-9s), Boeing's largest-ever widebody and 787 order, and 60% of Commercial Airplanes revenue comes from non-U.S. customers.
- [confirms] U.S. SEC EDGAR (EN, filing, published 2026-01-30) https://www.sec.gov/Archives/edgar/data/12927/000162828026004357/ba-20251231.htm: "Commercial Airplanes $ 41,494   $ 22,861   $ 33,901 ... In 2025, non-U.S. customers, which include Foreign Military Sales through the U.S. government (FMS), accounted for 46% of our total revenues and 60% of Commercial Airplanes revenue from customer contracts."
- [confirms] Boeing (EN, ir, published 2025-05-14) https://boeing.mediaroom.com/2025-05-14-Boeing-and-Qatar-Airways-Announce-Historic-Order-for-up-to-210-Widebody-Airplanes: "The order includes: 130 787 Dreamliners ... 30 777-9s ... Options for an additional 50 787 and 777X airplanes ... sets new records as the largest widebody order for Boeing, including the largest order for 787 Dreamliners."

### 유나이티드항공 (high)  → /united-airlines-holdings.md
- metric: Count 420 aircraft · as of 2025-12-31 · Firm Boeing aircraft purchase commitments
- note: Boeing is a core aircraft supplier to United, with year-end 2025 firm commitments totaling 420 aircraft: 150 787s, 103 737 MAX 9s and 167 737 MAX 10s.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-12) https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ual-20251231.htm: "At December 31, 2025, firm commitments included 150 Boeing 787s, 103 737 MAX 9s and 167 737 MAX 10s."
- [mentions] CAPA Centre for Aviation (EN, analysis, published 2025-03-05) https://centreforaviation.com/news/insights/united-airlines-receives-1000th-mainline-aircraft-diving-into-the-worlds-largest-airline-fleet-710837: "In Jan-2025, United Airlines received its 1000th aircraft, a Boeing 737 MAX 9."
- [mentions] Korea Economic Daily (KO, news, published 2024-04-17) https://www.hankyung.com/article/202404177190i: "United lowered its expected Boeing deliveries to 61 aircraft and said it had converted some MAX 10 orders to MAX 9s."

### 델타항공 (high)  → /delta-air-lines.md
- metric: Count 130 aircraft · Firm Boeing order book as of 2026-01-13 · Firm Boeing orders comprising 100 737-10s and 30 787-10s
- note: Boeing is a core aircraft supplier for Delta's long-term fleet renewal, with a firm order book totaling 130 aircraft from 100 existing 737-10 orders and 30 787-10s ordered in January 2026.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-11) https://www.sec.gov/Archives/edgar/data/27904/000002790426000013/dal-20251231.htm: "B-737-10 | 100 ... acquire 30 Boeing 787-10 aircraft"
- [confirms] Boeing (EN, ir, published 2026-01-13) https://investors.boeing.com/investors/news/press-release-details/2026/Delta-Air-Lines-Orders-up-to-60-Boeing-787-Dreamliners-to-Grow-Modernize-Widebody-Fleet/default.aspx: "Today's purchase brings Delta's firm order book to 130 Boeing airplanes."

### U.S. government (DoD/NASA/FMS) (high)
- metric: Revenue share 35% · FY2025 · Share of revenue from U.S. government contracts incl. FMS, 10-K
- note: The U.S. government is Boeing's single largest revenue source: 35% of FY2025 consolidated revenue (mainly BDS and BGS) came from U.S. government contracts including FMS. In March 2025 Boeing won the Air Force's Next Generation Air Dominance fighter, designated the F-47, a sixth-generation program to replace the F-22.
- [confirms] U.S. SEC EDGAR (EN, filing, published 2026-01-30) https://www.sec.gov/Archives/edgar/data/12927/000162828026004357/ba-20251231.htm: "In 2025, 35% of our revenues were earned pursuant to U.S. government contracts, which include FMS. ... Revenues from the U.S. government (including FMS), primarily recorded at BDS and BGS, represented 35 %, 42 % and 37 % of consolidated revenues for 2025, 2024 and 2023, respectively."
- [confirms] Defense News (EN, news, published 2025-03-21) https://www.defensenews.com/air/2025/03/21/boeing-wins-contract-for-ngad-fighter-jet-dubbed-f-47/: "The Pentagon has awarded the long-awaited contract for the Air Force's Next Generation Air Dominance future fighter jet, known as NGAD, to Boeing ... will be designated the F-47."

### 유나이티드 파셀 서비스 (high)  → /united-parcel-service.md
- metric: Count 18 aircraft · as of 2025-12-31 · Boeing 767-300 aircraft on order
- note: Boeing sells 767 freighters that UPS uses to maintain and modernize its air network, with 18 Boeing 767-300 aircraft remaining on order at year-end 2025.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-17) https://www.sec.gov/Archives/edgar/data/1090727/000162828026008432/ups-20251231.htm: "Boeing 767-300 ... On Order ... 18."
- [confirms] Boeing (EN, ir, published 2021-12-21) https://investors.boeing.com/investors/news/press-release-details/2021/Boeing-Announces-UPS-Purchase-of-19-767-Freighters/default.aspx: "Boeing announced an order for 19 767 Freighters from UPS."

### SES S.A. (high)  → /ses.md
- metric: units delivered 10위성(총 13기 계약) · as of 2025-07 · O3b mPOWER satellites delivered (3 remaining launch in 2026)
- note: Boeing builds and supplies SES's 13 second-generation medium-earth-orbit (MEO) O3b mPOWER communications satellites on its 702-family platform. As of July 2025 the 9th and 10th satellites were delivered, bringing 10 on orbit, with the remaining three in production for launch in 2026. This is the revenue-side mirror of the SES node's satellite-procurement (cost) edge.
- [confirms] Boeing (EN, ir, published 2025-07-02) https://boeing.mediaroom.com/2025-07-02-Boeing-Delivers-Next-Generation-O3b-mPOWER-Satellites-to-SES: "Boeing has successfully delivered the 9th and 10th O3b mPOWER satellites to content and network provider SES ... Boeing team members continue production on an additional three O3b mPOWER satellites to support SES's launch plans."
- [confirms] Via Satellite (EN, news, published 2024-11-13) https://www.satellitetoday.com/manufacturing/2024/11/13/boeing-delivers-two-o3b-mpower-satellites-to-ses/: "Boeing builds and delivers SES's O3b mPOWER satellites; this piece covers the delivery of the 7th and 8th units, with a Boeing Space VP noting it worked closely with SES from the start of the program."

### 페덱스 (high)  → /fedex.md
- metric: Count 10 aircraft · as of 2026-05-31 · Committed Boeing B777F purchases as of May 31, 2026
- note: Boeing supplies 777 freighters to FedEx for the modernization of its long-haul international cargo network, with purchase commitments totaling 10 aircraft as of May 31, 2026, and the relationship corroborated by the filing, an English logistics analysis, and a Korean aircraft-market report.
- [confirms] SEC EDGAR (EN, filing, published 2026-07-20) https://www.sec.gov/Archives/edgar/data/1048911/000104891126000105/fdx-20260531.htm: "B777F | Total | 10"
- [mentions] FreightWaves (EN, analysis, published 2025-03-21) https://www.freightwaves.com/news/fedex-orders-boeing-777-and-atr-cargo-aircraft-delays-md-11-retirements: "FedEx Corp. has exercised options to purchase eight additional Boeing 777 freighters"
- [mentions] Korea Ministry of Land, Infrastructure and Transport Aviation Information Portal (KO, research, published 2022-02-18) https://www.airportal.go.kr/e-book/catImage/286/20220218_Commercial%20Aircraft%20Market.pdf: "In January 2021, FedEx Express ordered 12 Boeing B767 freighters and 12 B777 freighters."

### Viasat (high)  → /viasat.md
- metric: units supplied 3위성(702MP+) · FY2025-26 · Number of ViaSat-3 satellites Boeing builds and integrates
- note: Boeing builds Viasat's three ultra-high-capacity ViaSat-3 broadband satellites on its high-power 702MP+ platform and handles integration and test at its El Segundo, California facility. It delivered the third spacecraft (VS-3 F3) in April 2026, while Flight 1 is already in commercial service. This is the revenue-side mirror of the Viasat node's satellite-procurement (cost) edge.
- [confirms] Boeing Media Room (EN, ir, published 2026-04-07) https://boeing.mediaroom.com/news-releases-statements?item=131657: "Boeing announced today, delivery of the ViaSat-3 Flight 3 (VS-3 F3) spacecraft to Viasat. Built on Boeing's high-power 702MP+ platform and integrated at Boeing's El Segundo facility in California ... With VS-3 F1 already providing commercial airline connectivity and VS-3 F2 currently advancing towards entering service over the Americas."
- [confirms] Via Satellite (EN, news, published 2023-03-20) https://www.satellitetoday.com/manufacturing/2023/03/20/boeing-delivers-first-viasat-3-satellite-ahead-of-launch/: "Boeing designed and manufactured the ViaSat-3 platform and integrated Viasat's payload, on Boeing's 702MP+ bus, described as the most powerful platform Boeing has provided to a customer."

Reverse side: https://valuechain.wiki/boeing/suppliers.md · Ripple: https://valuechain.wiki/boeing/ripple.md

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Full node: https://valuechain.wiki/boeing.md · JSON: https://valuechain.wiki/boeing.json