Is Boeing’s space business falling out of orbit behind SpaceX?

Aircraft manufacturer Boeing (BA) reported a $2 billion loss in its aerospace and defense programs, now totaling up to $3 billion in losses in 2024 year-to-date. In its third quarter earnings results, Boeing announced a net $6.17 billion loss across its divisions for the quarter.

In recent months, NASA has turned to SpaceX to lead a return flight for astronauts currently stationed at the International Space Station (ISS), benching Boeing’s Starliner shuttles over mechanical concerns.

Yahoo Finance special reporter Akiko Fujita outlines Boeing’s defense and space division’s losses dating back to 2022 and what recent troubles mean for its United Launch Alliance business — a joint venture with Lockheed Martin (LMT) — and SpaceX’s penetration into the space launch industry.

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This post was written by Luke Carberry Mogan.