Boeing is the world's largest aerospace company and second largest defense contractor. It generates over $60 billion in annual revenue from commercial airliners, military aircraft, rockets, satellites and other products. Boeing competes with Airbus, Lockheed Martin and EADS in both commercial and defense markets. The commercial aircraft industry has high barriers to entry due to large capital requirements, long development cycles and product risks. Boeing aims to leverage its strengths in engineering and customer relationships into new aerospace products and services.