Direct Answer
Boeing reports revenue across 3 business segments in its fiscal 2025 Form 10-K. Commercial Airplanes is the largest, with $41.5 billion of revenue (46% of the total), followed by Defense Space and Security at $27.2 billion (30%). 54% of revenue came from the United States.
How Does Boeing Make Money?
No single line supplies a majority of revenue: the largest, Commercial Airplanes, is 46%, which spreads Boeing's exposure across several demand drivers. Between fiscal 2024 and 2025, Commercial Airplanes grew fastest (+81.5%) and Global Services slowest (+4.9%), so the revenue mix tilts toward Commercial Airplanes while that gap lasts.
| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Commercial Airplanes | $41.5 billion | $22.9 billion | 46.4% | 81.5% |
| Defense Space and Security | $27.2 billion | $23.9 billion | 30.4% | 13.9% |
| Global Services | $20.9 billion | $20.0 billion | 23.4% | 4.9% |
Which Boeing Segments Earn the Most?
| Segment | FY2025 segment operating income | Segment margin |
|---|---|---|
| Commercial Airplanes | -$7.1 billion | -17.1% |
| Defense Space and Security | -$128 million | -0.5% |
| Global Services | $13.5 billion | 64.4% |
Segment operating income is the profit measure Boeing reports to its chief operating decision maker for each segment. It usually leaves out corporate costs that are not allocated to a segment, so the segments usually add up to more than consolidated operating income, and margins are comparable within Boeing more safely than against another company.
What Does Boeing Sell?
Boeing also breaks revenue down by product and service line, which shows what customers pay for rather than how management organizes the business.
| Product or service | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Product | $75.4 billion | $53.2 billion | 84.2% | 41.6% |
| Service | $14.1 billion | $13.3 billion | 15.8% | 6.1% |
Where Does Boeing's Revenue Come From?
Regions follow the definitions in the filing; most companies assign revenue by customer location.
| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| United States | $48.1 billion | $36.2 billion | 53.7% | 32.9% |
| Asia | $16.5 billion | $12.0 billion | 18.4% | 37.3% |
| Europe | $11.4 billion | $8.7 billion | 12.8% | 30.7% |
| Middle East | $7.0 billion | $4.6 billion | 7.9% | 51.5% |
| Canada | $1.8 billion | $1.5 billion | 2.0% | 21.0% |
| Africa | $1.6 billion | $1.1 billion | 1.8% | 42.2% |
| Oceania | $1.6 billion | $1.6 billion | 1.8% | 1.4% |
| Latin America | $1.5 billion | $1.2 billion | 1.7% | 18.7% |
What the Segment Figures Do Not Show
The rows above add up to 100% of Boeing's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.
Where These Numbers Come From
Every figure on this page is a value Boeing reported in the segment note and revenue disclosures of its Form 10-K filed January 30, 2026 (accession 0001628280-26-004357), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.
Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.
Frequently Asked Questions
What are Boeing's business segments?
In its fiscal 2025 Form 10-K, Boeing reports revenue for Commercial Airplanes, Defense Space and Security and Global Services.
Which part of Boeing brings in the most revenue?
Commercial Airplanes, with $41.5 billion of revenue in fiscal 2025, or 46% of the total.
How much of Boeing's revenue comes from outside the United States?
46% in fiscal 2025, by the geographic breakdown Boeing reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies.