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 faced significant challenges in 2024, including supply chain issues and a strike, leading to a sharp decline in orders and deliveries. Learn more on BA stock here.

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.