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Boeing and Airbus Maintain Dominance at the Top of Global Aerospace and Defence Industry

Our Bureau - : Mar 16, 2023 - : 5:41 am

Boeing, with its brand value up 13% to US$17.5 billion, remains the most valuable aerospace and defence brand in 2023. However, Airbus has overtaken Boeing to become the strongest brand with AAA- rating. German arms manufacturing company, Rheinmetall, has seen the fastest year-on-year brand value growth in the ranking of 33% to US$1.1 billion.

Demand for commercial aircraft post Covid-19 has helped sustain Boeing’s brand value growth, which is 4% higher than Airbus, which saw its brand value go up 9% to US$14.4 billion. Boeing’s brand value however remains 23% lower than its pre-pandemic value, according to brand valuation consultancy Brand Finance.

“Demand for Boeing’s products continues to go up post-pandemic, bolstered by some important partnerships,” said Savio D’Souza, Valuation Director, Brand Finance. “This included Air India’s selection of up to 290 Boeing jets to expand its future fleet, and the US Air Force awarding a number of high-value contracts to Boeing. Such contracts will be vital as the brand looks to sustain healthy brand value growth going forward and aim to surpass its pre-pandemic level.”

In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance. Airbus has overtaken rival Boeing to become the strongest aerospace & defence brand. The company’s Brand Strength Index Score was 82 out of 100, up 3.4 points year-on-year, with a corresponding AAA- rating. The French brand is also the second most valuable brand in the ranking.

German brands Rheinmetall and MTU are the fastest growing brands. Rheinmetall saw the fastest year-on-year brand value growth in the ranking. The company’s military arm achieved particular success in 2022 as a result of increased global defence spending due to Russia’s ongoing invasion of Ukraine. Other defence focused brands, such as Northrop Grumman – brand value up 7% to 6.8 billion – also saw brand value grow.

MTU is the second fastest growing aerospace & defence brand with a brand value growth of 32% to US$1 billion. MTU sustained a high order backlog at the end of 2022, highlighting evidence of the sustained demand for the brand’s products.

Boeing and Airbus have the two highest Sustainability Perception Values of US$450 million and US$399 million apiece. While both brands’ position at the top of the Sustainability Perceptions Value table is not an assessment of their overall sustainability performance, it rather indicates how much brand value the brands have tied up in sustainability perception. Boeing and Airbus also had solid Sustainability Perception Scores of 4.06 and 4.37 out of 10 respectively.

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