Airplane companies are worth surprisingly less than expected for how crucial and important they seem at first glance.
The market is also not as big as you'd think.
The market is also not as big as you'd think.
This is also suggesting to me that commercial aviation isn't going to be seeing that much advancement going forward, rather than incremental changes at a decelerating rate. Strong headwinds, say from the energy transition, may actually shrink it a lot.
It's a critical long lead-time, institutional industry, for a nation. But a moneymaker, it's not.
(Even Airbus, if I'm reading it right, is at a USD$120b market cap)