{"id":5009,"date":"2024-09-17T14:12:15","date_gmt":"2024-09-17T17:12:15","guid":{"rendered":"https:\/\/artica.capital\/clairfield-pilulas\/o-mercado-de-producao-de-aeronaves-o-caso-da-embraer\/"},"modified":"2026-09-29T15:15:27","modified_gmt":"2026-09-29T18:15:27","slug":"o-mercado-de-producao-de-aeronaves-o-caso-da-embraer","status":"publish","type":"pilulas","link":"https:\/\/artica.capital\/en\/clairfield-pilulas\/o-mercado-de-producao-de-aeronaves-o-caso-da-embraer\/","title":{"rendered":"The aircraft production market: the case of Embraer"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">O mercado de produ\u00e7\u00e3o de aeronaves \u00e9 um setor altamente competitivo, sendo dominado por grandes players globais. Entre as empresas que se destacam nesse setor, a Embraer, com sede no Brasil, ocupa um papel de grande relev\u00e2ncia. Fundada em 1969, como uma empresa estatal, a Embraer \u00e9 uma das maiores fabricantes de aeronaves do mundo, tendo passado por um processo de privatiza\u00e7\u00e3o e abertura de capital na bolsa de valores.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Atualmente a companhia expandiu suas verticais de atua\u00e7\u00e3o atendendo desde o mercado de avia\u00e7\u00e3o executiva at\u00e9 a militar. Entretanto as unidades de Servi\u00e7os\/Suportes e Avia\u00e7\u00e3o Executiva foram as que apresentaram as melhores margens da Embraer em 2024.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Combinado com o aumento na entrega de aeronaves, esse crescimento da companhia resultou em uma cobertura positiva dos bancos de investimento, o que gerou uma significativa valoriza\u00e7\u00e3o de suas a\u00e7\u00f5es e a colocou como uma das l\u00edderes da Ibovespa.<\/p>\n\n\n\n<!-- pilula-html v1 -->\n<style>\n.pil{--navy:#2d3a51;--blue:#4f6388;--light:#8599b9;--pale:#e8ebf1;--card:#d3d9e3;--red:#c0272d;--txt:#333;font-family:\"Merriweather Sans\",sans-serif;color:var(--txt);margin-top:40px}\n.pil *{box-sizing:border-box}\n.pil img{max-width:100%;height:auto;display:block}\n.pil-sec{margin:0 0 56px}\n.pil-sec h2{background:var(--navy);color:#fff;font-size:19px;line-height:1.35;font-weight:700;padding:16px 20px;border-radius:0 0 28px 0;margin:0 0 20px;text-wrap:balance}\n.pil-sub{font-size:14px;font-weight:700;color:var(--navy);border-bottom:2px solid var(--navy);padding-bottom:6px;margin:0 0 16px;display:flex;justify-content:space-between;gap:12px;align-items:flex-end}\n.pil-tag{color:var(--red);border-top:2px solid var(--red);border-bottom:2px solid var(--red);font-size:12px;padding:2px 8px;white-space:nowrap}\n.pil-unit{font-size:12px;font-style:italic;color:#999;font-weight:700}\n.pil-src{font-size:11px;color:#777;margin-top:14px;line-height:1.5}\n.pil-p{font-size:14px;line-height:1.6;margin:0 0 12px}\n.pil-note{display:flex;gap:12px;align-items:center;background:var(--pale);border:1.5px dashed var(--navy);border-radius:10px;padding:12px 16px;font-size:14px;line-height:1.55;margin-top:18px}\n.pil-note::before{content:\"\";flex:none;width:26px;height:26px;border-radius:50%;background:var(--navy) url(\"data:image\/svg+xml,%3Csvg xmlns='http:\/\/www.w3.org\/2000\/svg' viewBox='0 0 24 24' fill='none' stroke='white' stroke-width='1.8' stroke-linecap='round'%3E%3Cpath d='M9 18h6M10 21h4M12 3a6 6 0 0 0-3.5 10.9c.6.5 1 1.2 1 2.1h5c0-.9.4-1.6 1-2.1A6 6 0 0 0 12 3z'\/%3E%3C\/svg%3E\") center\/16px no-repeat}\n.pil-note.solid{border-style:solid;background:#fff;box-shadow:0 2px 6px rgba(0,0,0,.12)}\n.pil-note.solid::before{display:none}\n.pil-grid2{display:grid;grid-template-columns:1fr 1fr;gap:24px}\n.pil-grid2.wide-left{grid-template-columns:1.75fr 1fr}\n.pil-grid2.wide-right{grid-template-columns:1fr 1.75fr}\n.pil-grid3{display:grid;grid-template-columns:repeat(3,1fr);gap:20px}\n.pil-grid4{display:grid;grid-template-columns:repeat(4,1fr);gap:16px}\n.pil-grid5{display:grid;grid-template-columns:repeat(5,1fr);gap:12px}\n.pil-grid2>*,.pil-grid3>*,.pil-grid4>*,.pil-grid5>*{min-width:0}\n.pil-legend{font-size:12px;display:flex;gap:14px;justify-content:flex-end;flex-wrap:wrap;margin-bottom:6px}\n.pil-legend span{display:inline-flex;align-items:center;gap:6px}\n.pil-legend i{width:14px;height:10px;display:inline-block}\n\/* grafico de colunas: .pil-bars > div[style=height:%] > span (valor); 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The Boeing Company (EUA) 77.794; Airbus (Holanda) 70.779; Lockheed Martin Corporation (EUA) 67.571; General Dynamics Corporation (EUA) 42.272; Northrop Grumman Corporation (EUA) 39.290; Leonardo S.p.a. (It\u00e1lia) 16.537; Textron Inc. (EUA) 13.683; Bombardier Inc. (Canad\u00e1) 8.046; Dassault Aviation soci\u00e9t\u00e9 anonyme (Fran\u00e7a) 5.369; Embraer (Brasil) 5.231\">\n    <div class=\"r\"><b>Aviation Industry Corporation of China<\/b><div class=\"bar\"><i style=\"width:100%;background:var(--navy)\"><\/i><\/div><em>82.616<sup>(1)<\/sup><\/em><\/div>\n    <div class=\"r\"><b>The Boeing Company<\/b><div class=\"bar\"><i style=\"width:94.2%;background:var(--navy)\"><\/i><\/div><em>77.794<\/em><\/div>\n    <div class=\"r\"><b>Airbus<\/b><div class=\"bar\"><i style=\"width:85.7%;background:var(--navy)\"><\/i><\/div><em>70.779<\/em><\/div>\n    <div class=\"r\"><b>Lockheed Martin Corporation<\/b><div class=\"bar\"><i style=\"width:81.8%;background:var(--navy)\"><\/i><\/div><em>67.571<\/em><\/div>\n    <div class=\"r\"><b>General Dynamics Corporation<\/b><div class=\"bar\"><i style=\"width:51.2%;background:#c0c0c0\"><\/i><\/div><em>42.272<\/em><\/div>\n    <div class=\"r\"><b>Northrop Grumman Corporation<\/b><div class=\"bar\"><i style=\"width:47.6%;background:#c0c0c0\"><\/i><\/div><em>39.290<\/em><\/div>\n    <div class=\"r\"><b>Leonardo S.p.a.<\/b><div class=\"bar\"><i style=\"width:20%;background:#c0c0c0\"><\/i><\/div><em>16.537<\/em><\/div>\n    <div class=\"r\"><b>Textron Inc.<\/b><div class=\"bar\"><i style=\"width:16.6%;background:#c0c0c0\"><\/i><\/div><em>13.683<\/em><\/div>\n    <div class=\"r\"><b>Bombardier Inc.<\/b><div class=\"bar\"><i style=\"width:9.7%;background:#c0c0c0\"><\/i><\/div><em>8.046<\/em><\/div>\n    <div class=\"r\"><b>Dassault Aviation soci\u00e9t\u00e9 anonyme<\/b><div class=\"bar\"><i style=\"width:6.5%;background:#c0c0c0\"><\/i><\/div><em>5.369<\/em><\/div>\n    <div class=\"r\" style=\"border:1.5px dashed var(--navy);border-radius:8px;padding:6px 4px;background:#e8e8e8\"><b>Embraer (15\u00ba)<\/b><div class=\"bar\"><i style=\"width:6.3%;background:#f5a843\"><\/i><\/div><em>5.231<\/em><\/div>\n  <\/div>\n  <div class=\"pil-note solid\"><span>H\u00e1 ainda 4 outras empresas com receita maior do que a da Embraer<\/span><\/div>\n  <div class=\"pil-src\">(1) 2022. Fonte: An\u00e1lise \u00c1rtica; Yahoo Finance; Capital IQ<\/div>\n<\/section>\n\n<section class=\"pil-sec\">\n  <h2>A Embraer foi fundada em 1969 e, atualmente, conta com uma atua\u00e7\u00e3o diversificada nos principais segmentos aeron\u00e1uticos<\/h2>\n  <div class=\"pil-sub\"><span>Unidades de Neg\u00f3cios<\/span><\/div>\n  <div class=\"pil-grid5\">\n    <figure class=\"pil-fig\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5009-ic-servicos.png\" alt=\"\u00cdcone de t\u00e9cnico com turbina\" loading=\"lazy\" style=\"max-width:110px;margin:0 auto\"><figcaption style=\"color:var(--navy)\">Servi\u00e7os e Suporte<\/figcaption><\/figure>\n    <figure class=\"pil-fig\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5009-ic-executiva.png\" alt=\"\u00cdcone de jato executivo\" loading=\"lazy\" style=\"max-width:110px;margin:0 auto\"><figcaption style=\"color:var(--navy)\">Avia\u00e7\u00e3o Executiva<\/figcaption><\/figure>\n    <figure class=\"pil-fig\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5009-ic-comercial.png\" alt=\"\u00cdcone de avi\u00e3o comercial\" loading=\"lazy\" style=\"max-width:110px;margin:0 auto\"><figcaption style=\"color:var(--navy)\">Avia\u00e7\u00e3o Comercial<\/figcaption><\/figure>\n    <figure class=\"pil-fig\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5009-ic-defesa.png\" alt=\"\u00cdcone de avi\u00e3o militar\" loading=\"lazy\" style=\"max-width:110px;margin:0 auto\"><figcaption style=\"color:var(--navy)\">Defesa e Seguran\u00e7a<\/figcaption><\/figure>\n    <figure class=\"pil-fig\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5009-ic-eve.png\" alt=\"\u00cdcone de aeronave el\u00e9trica de decolagem vertical\" loading=\"lazy\" style=\"max-width:110px;margin:0 auto\"><figcaption style=\"color:var(--navy)\">EVE<sup>(1)<\/sup><\/figcaption><\/figure>\n  <\/div>\n  <div class=\"pil-sub\" style=\"margin-top:28px\"><span>EBIT e margem por segmento | 2T24<\/span><\/div>\n  <div style=\"display:flex;justify-content:space-between;align-items:center\"><span class=\"pil-unit\">%<\/span><span class=\"pil-legend\"><span><i style=\"background:var(--navy)\"><\/i><span>EBIT<\/span><\/span><span><i style=\"background:#f5a843;height:3px\"><\/i><span>Margem EBIT<\/span><\/span><\/span><\/div>\n  <div class=\"pil-years\" style=\"font-size:13px;font-weight:700;color:#e08a1e;margin-bottom:4px\"><span>15%<\/span><span>10%<\/span><span>5%<\/span><span>5%<\/span><\/div>\n  <div class=\"pil-bars\" style=\"height:200px\" role=\"img\" aria-label=\"EBIT e margem EBIT por segmento no 2T24: Servi\u00e7os e suporte, 51% do EBIT e margem de 15%; Avia\u00e7\u00e3o executiva, 40% e margem de 10%; Avia\u00e7\u00e3o comercial, 6% e margem de 5%; Defesa e seguran\u00e7a, 3% e margem de 5%\">\n    <div class=\"cur\" style=\"height:100%\"><span>51%<\/span><\/div>\n    <div class=\"cur\" style=\"height:78.4%\"><span>40%<\/span><\/div>\n    <div class=\"cur\" style=\"height:11.8%\"><span>6%<\/span><\/div>\n    <div class=\"cur\" style=\"height:5.9%\"><span>3%<\/span><\/div>\n  <\/div>\n  <div class=\"pil-years\" style=\"font-size:12px\"><span>Servi\u00e7os e suporte<\/span><span>Avia\u00e7\u00e3o executiva<\/span><span>Avia\u00e7\u00e3o comercial<\/span><span>Defesa e seguran\u00e7a<\/span><\/div>\n  <div class=\"pil-note solid\"><span>Apesar da receita das unidades de avia\u00e7\u00e3o comercial ser a mais representativa, a vertical de Servi\u00e7os e Suporte apresenta maior rentabilidade<\/span><\/div>\n  <div class=\"pil-src\">(1) <i>EVE Air Mobility<\/i> \u00e9 uma subsidi\u00e1ria da Embraer focada no desenvolvimento de aeronaves el\u00e9tricas de decolagem e pouso vertical.<br>Fonte: An\u00e1lise \u00c1rtica; Embraer<\/div>\n<\/section>\n\n<section class=\"pil-sec\">\n  <h2>A Embraer vem aumentando a entrega de suas aeronaves, destacando-se entre as maiores empresas do setor<\/h2>\n  <div class=\"pil-sub\"><span>Quantidade de aeronaves entregues entre 2022 e 2023<\/span><\/div>\n  <div style=\"display:flex;justify-content:space-between;align-items:center\"><span class=\"pil-unit\">#<\/span><span class=\"pil-legend\"><span><i style=\"background:var(--light)\"><\/i><span>2022<\/span><\/span><span><i style=\"background:var(--navy)\"><\/i><span>2023<\/span><\/span><\/span><\/div>\n  <div class=\"pil-years\" style=\"font-size:12px;font-weight:700;margin-top:8px\"><span><span class=\"pil-cagr\"><span>+13%<\/span><\/span><\/span><span><span class=\"pil-cagr\"><span>11%<\/span><\/span><\/span><span><span class=\"pil-cagr\"><span>+8%<\/span><\/span><\/span><\/div>\n  <div class=\"pil-bars\" style=\"gap:10%;padding:22px 5% 0\" role=\"img\" aria-label=\"Aeronaves entregues, 2022 \/ 2023: Embraer 160 \/ 181 (+13%); Boeing 470 \/ 528 (11%); Airbus 681 \/ 735 (+8%)\">\n    <div style=\"height:100%;background:none;display:flex;align-items:flex-end\"><div style=\"flex:1;height:21.8%;background:var(--light);position:relative\"><span style=\"position:absolute;top:-19px;left:50%;transform:translateX(-50%);font-size:12px\">160<\/span><\/div><div style=\"flex:1;height:24.6%;background:var(--navy);position:relative\"><span style=\"position:absolute;top:-19px;left:50%;transform:translateX(-50%);font-size:12px\">181<\/span><\/div><\/div>\n    <div style=\"height:100%;background:none;display:flex;align-items:flex-end\"><div style=\"flex:1;height:63.9%;background:var(--light);position:relative\"><span style=\"position:absolute;top:-19px;left:50%;transform:translateX(-50%);font-size:12px\">470<\/span><\/div><div style=\"flex:1;height:71.8%;background:var(--navy);position:relative\"><span style=\"position:absolute;top:-19px;left:50%;transform:translateX(-50%);font-size:12px\">528<\/span><\/div><\/div>\n    <div style=\"height:100%;background:none;display:flex;align-items:flex-end\"><div style=\"flex:1;height:92.7%;background:var(--light);position:relative\"><span style=\"position:absolute;top:-19px;left:50%;transform:translateX(-50%);font-size:12px\">681<\/span><\/div><div style=\"flex:1;height:100%;background:var(--navy);position:relative\"><span style=\"position:absolute;top:-19px;left:50%;transform:translateX(-50%);font-size:12px\">735<\/span><\/div><\/div>\n  <\/div>\n  <div style=\"display:flex;gap:10%;padding:10px 5% 0;align-items:center\">\n    <img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5009-embraer.png\" alt=\"Embraer\" loading=\"lazy\" style=\"flex:1;min-width:0\">\n    <img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5009-boeing.png\" alt=\"Boeing\" loading=\"lazy\" style=\"flex:1;min-width:0\">\n    <img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5009-airbus.png\" alt=\"Airbus\" loading=\"lazy\" style=\"flex:1;min-width:0\">\n  <\/div>\n  <div class=\"pil-note\"><span>J\u00e1 no 2T24 o segmento de avia\u00e7\u00e3o comercial apresentou aumento de 170% nas entregas<\/span><\/div>\n  <div class=\"pil-src\">Fonte: An\u00e1lise \u00c1rtica; Embraer; Boeing; Airbus<\/div>\n<\/section>\n\n<section class=\"pil-sec\">\n  <h2>Essa melhora dos resultados contribuiu para posicionar as a\u00e7\u00f5es da Embraer como uma das l\u00edderes em ganhos da Ibovespa em 2024<\/h2>\n  <div class=\"pil-sub\"><span>Evolu\u00e7\u00e3o da EMBR3 ao longo dos anos<\/span><\/div>\n  <img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5009-grafico.png\" alt=\"Gr\u00e1fico de linhas da varia\u00e7\u00e3o acumulada, em %, de 09\/21 a 09\/24: a EMBR3 oscila entre cerca de -50% e 0% at\u00e9 2023 e dispara em 2024, passando de 100% em 09\/24; o \u00edndice S&amp;P Latam BMI fica entre cerca de -25% e +20% no per\u00edodo\" loading=\"lazy\">\n  <div class=\"pil-note solid\" style=\"display:grid;grid-template-columns:1fr;gap:10px\"><span style=\"font-size:17px\"><b>Embraer (EMBR3), que dispara mais de 100% no \u00faltimo ano, tem espa\u00e7o para subir mais, diz Ita\u00fa BBA<\/b><\/span><span style=\"display:flex;justify-content:space-between;align-items:center;gap:12px\"><span>03\/09\/2024<\/span><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5009-moneytimes.png\" alt=\"Logo do Money Times\" loading=\"lazy\" style=\"width:160px\"><\/span><\/div>\n  <div class=\"pil-src\">(1) Index selecionado do segmento de bens de capital. Fonte: An\u00e1lise \u00c1rtica; NeoFeed; Capital IQ<\/div>\n<\/section>\n\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>O mercado de produ\u00e7\u00e3o de aeronaves \u00e9 um setor altamente competitivo, sendo dominado por grandes players globais. Entre as empresas que se destacam nesse setor, a Embraer, com sede no Brasil, ocupa um papel de grande relev\u00e2ncia.<\/p>","protected":false},"author":1,"featured_media":5004,"template":"","meta":[],"class_list":["post-5009","pilulas","type-pilulas","status-publish","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/pilulas\/5009","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/pilulas"}],"about":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/types\/pilulas"}],"author":[{"embeddable":true,"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/users\/1"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/media\/5004"}],"wp:attachment":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/media?parent=5009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}