Boeing Wins Order for up to 200 737 Max Jets From Pegasus Airlines

The Boeing Company BA recently clinched an order from Pegasus Airlines to deliver 100 of its 787-10 jets, with an additional opportunity for 100 jets. Pegasus Airlines aims to grow and modernize its single-aisle fleet. The order for 100 737-10 jets increases the total number of 737 MAX variants ordered to more than 1,200.Significance of 787 Max JetsThe 737-10 is the largest model in the 737 MAX family, capable of carrying up to 230 passengers and flying up to 3,100 nautical miles (5,740 km). It reduces fuel use and emissions by 20% compared with the airplanes it replaces. Its efficiency and flexibility will help Pegasus Airlines carry more passengers on more routes at the lowest cost per seat among single-aisle planes.Growth Prospects for BA StockRising air passenger traffic and the increasing demand for fuel-efficient and modern aircraft are driving growth in the commercial aviation market. Tourism heavily relies on air travel, with more than half of cross-border travelers using airplanes. Airlines are increasingly prioritizing advanced models with improved fuel efficiency and range, further boosting market growth.This is likely to have prompted the Mordor Intelligence firm to forecast a compound annual growth rate of more than 6.7% for the global commercial aviation market during the 2024-2030 time period.Such solid market prospects offer growth opportunities for Boeing. The company has more than 10,000 jetliners in service worldwide. Boeing’s commercial airplanes backlog of more than 5,400 airplanes valued at $427.73 billion indicates the increasing demand for new fuel-efficient airplanes.Opportunities for Other Defense StocksOther defense companies that are expected to enjoy the perks of the expanding global commercial aviation market have been discussed below.Airbus SE EADSY: It has more than 12,000 aircraft in service worldwide. Airbus provides modern, fuel-efficient aircraft that help airlines reduce their carbon footprint. The company’s portfolio includes the A220 Family, A320 Family and A380 aircraft.The company has a long-term (three to five years) earnings growth rate of 9.2%. The Zacks Consensus Estimate for EADSY’s 2024 sales indicates year-over-year growth of 5.1%.General Dynamics Corporation GD: It is a renowned producer of business jets and provider of aircraft repair, support and completion services. It is known for its superior aircraft design, performance, safety and reliability. The company’s portfolio includes the G400, G800 and G650ER.The company’s long-term earnings growth rate is 11.7%. The consensus estimate for GD’s 2024 sales indicates year-over-year growth of 13.2%.Textron, Inc. TXT: Its unit Cessna offers a range of aircraft for the commercial market, including business jets, turboprops and piston-engine aircraft. Cessna’s aircraft are used for various purposes, from business travel to surveillance and inspection. Some of its products include the Garmin G3000 Prime, Citation Longitude and Citation CJ4 Gen3.TXT boasts a long-term earnings growth rate of 10.1%. The Zacks Consensus Estimate for TXT’s 2024 sales indicates year-over-year growth of 1.1%.BA Stock’s Price MovementShares of BA have gained 13.2% in the past three months against the industry’s 12.8% decline.Image Source: Zacks Investment ResearchBA’s Zacks RankBA currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Boeing Company (BA): Free Stock Analysis Report General Dynamics Corporation (GD): Free Stock Analysis Report Textron Inc. (TXT): Free Stock Analysis Report Airbus Group (EADSY): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks