(NSI News Source Info) May 20, 2009: EADS edged out Boeing as the biggest aerospace and defense company in the world in 2008, based on revenues, a study from Deloitte pointed out May 19. Boeing had led EADS in 2007, but a strike of machinists in Boeing's commercial division last fall allowed EADS to move ahead. 
A study released May 19 by Deloitte says that EADS, whose product line includes the Airbus A400M shown above, has topped long-time rival Boeing Co. as the biggest aerospace and defense company in the world. (CRISTINA QUICLER / AGENCE FRANCE-PRESSE)
Boeing and EADS, with partner Northrop Grumman, are locked in a battle to build the next air-refueling tanker for the U.S. Air Force, a deal that is valued at $35 billion and has been put on hold. The Defense Department may rebid that contract as early as this summer.
EADS led the revenue growth for European companies, with almost $6 billion in additional revenue in 2008 over its 2007 revenue of about $57 billion. Boeing's 2008 revenue was $60.9 billion, down from $66.4 billion in 2007.
Deloitte's study of 67 aerospace and defense companies or divisions of companies found that European companies grew faster than U.S. companies in 2008. Revenue for European companies grew 9.56 percent, while revenue for U.S. companies in the study grew at 6.3 percent.
Operating margins were 7.55 percent for European companies in 2008 and 10.17 percent for U.S. companies in the survey, Deloitte said.
In total, the group had record revenue of $595 billion in 2008 and operating income of about $54 billion. Revenue in 2007 for the group was $552 billion.
A study released May 19 by Deloitte says that EADS, whose product line includes the Airbus A400M shown above, has topped long-time rival Boeing Co. as the biggest aerospace and defense company in the world. (CRISTINA QUICLER / AGENCE FRANCE-PRESSE)
Boeing and EADS, with partner Northrop Grumman, are locked in a battle to build the next air-refueling tanker for the U.S. Air Force, a deal that is valued at $35 billion and has been put on hold. The Defense Department may rebid that contract as early as this summer.
EADS led the revenue growth for European companies, with almost $6 billion in additional revenue in 2008 over its 2007 revenue of about $57 billion. Boeing's 2008 revenue was $60.9 billion, down from $66.4 billion in 2007.
Deloitte's study of 67 aerospace and defense companies or divisions of companies found that European companies grew faster than U.S. companies in 2008. Revenue for European companies grew 9.56 percent, while revenue for U.S. companies in the study grew at 6.3 percent.
Operating margins were 7.55 percent for European companies in 2008 and 10.17 percent for U.S. companies in the survey, Deloitte said.
In total, the group had record revenue of $595 billion in 2008 and operating income of about $54 billion. Revenue in 2007 for the group was $552 billion.
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