I came across this short clip by CNBC on the dominance of Boeing and Airbus in the sky. The two companies are the two major players in a lucrative industry with incredible high entry barriers. They or at least Boeing has a close tie to the government as it is the second biggest vendor for government contracts.
It’s a bit ironic that Boeing enjoys the influence and the lack of the competition that it has while government officials all seem eager to publicly end the alleged monopolies of tech companies. I said alleged since it’s not really clear cut to determine whether companies like Amazon are a monopoly even though many deem it to be. I am not saying that tech companies should be allowed to function in a monopolistic competition. But if fighting to avoid monopolies and to preserve consumers’ best interest is necessary, Boeing should be one of the first companies to be scrutinized.
If you remember the saga Boeing has had with its 737 Max this year, it’s even more unbelievable to see Boeing dominate the market. Even with its position and power, Boeing still tries to cut cost and bolster the bottom line at the expense of the very utmost thing they should be responsible for: safety.