Next up is the 777, which has higher capacity than the 787/350. However, it is modern enough that it can probably just be upgraded, no new plane is needed.
While each company's offerings overlap somewhat, the A350 is a substantially larger plane and competes with the 777.
Widebody twin 2-class capacity (variants):
767 | 216 / 261 / 296
A330 | 246 / 300
787 | 242 / 290 / 330
A350 | 325 / 366
777 | 313 / / 396
777X | 365 / 414The A380 cannot lift much more than a B747. But it has more volume, which comes in handy for passengers, not for cargo.
[1]: https://www.flexport.com/blog/airbus-a380-no-cargo-equivalen...
edit: 747 n° mistake
The 2nd floor of the A380 also can't be removed because it's required structurally, and that really limits the size of the cargo you could potentially put in it.
1: http://www.aerospace-technology.com/wp-content/uploads/sites...
Purpose-built freighter models also remove things that aren't necessary and just add weight - such as windows (packages don't need a view). This allows the carrier to transport more cargo in the same flight.
"The A380-F would be able to carry 60% more volume than the 747, but only 28% more weight."
https://www.flexport.com/blog/airbus-a380-no-cargo-equivalen...
The result is that the useful payload of an A380 is lower than a 747-8F (about 84,000kg versus 132,000kg).
And that's without getting into the other issues, like the A380's structural middle-deck (which can't be removed to turn the interior into a giant cargo hold) or inability to have its nose turned into a large cargo door like a 747 (the A380's flight deck is too low to the ground, in order to maintain training compatibility with the A330 and A340).
No. The A350 and 787 both use composite materials, and that's the end of the similarities; they're planes of different size classes, designed for different market niches.
The A350 is a competitor for the 777; both planes are designed for high-demand long-haul routes.
Airbus currently does not have a competitor for the 787, which is designed for medium-demand long- to ultra-long-haul routes.
Or in other words: an A350 or 777 is what you fly between two major top-tier cities with lots of passenger demand. Think of routes like Hong Kong to San Francisco (which is routinely flown by... A350s and 777s). A 787 is what you fly between places that are far apart, but don't have quite so much demand.
This is important because the 787 has opened up the possibility of flying routes airlines wouldn't have considered before, while the A350 just plops into existing routes easily. The 787 was basically single-handedly responsible for the return of trans-Pacific flights to San Jose, for example, and Qantas is about to launch nonstop(!) service from Perth to London on a 787.
However, it does compete with the a380. Every time you see a seat on a flight between Denver and Narita, realize that it's a seat that isn't on a A380 flying between San Fransisco or LAX and Japan.