Boeing must turn its fortunes around this year to avoid falling further behind Airbus, which plans a production increase as it fixes its supply chain.

Boeing commercial jet deliveries dropped last year by more than a third compared to 2023, as the aerospace giant wrestled with multiple major challenges. In data released Tuesday, Boeing (NYSE: BA) reported it delivered 348 airplanes to customers in 2024, down from 528 the year prior.

Boeing delivered less than half the number of commercial aircraft to customers than its European rival in 2024, The American aerospace giant reported on Tuesday that it supplied 348 jetliners during the year.

Deliveries of new Boeing jets bounced back in December after a crippling labor strike that slowed production last fall, but the company's annual deliveries dropped in 2024 to the lowest level since the COVID-19 pandemic.

Boeing’s (NYSE:BA) deliveries of commercial planes rebounded in December as the aviation giant resumed production after the end of a seven-week strike. But its yearly deliveries fell to the lowest since the pandemic curbed demand for air travel.