Leading commercial airplane producer, The Boeing Co. ( BA - Analyst Report ) received another multi billion order for its 737 model from Alaska Airlines. Per the order, Boeing will supply 50’ 737 airlines at list prices taking the deal value to $5 billion.

Out of the total airplanes ordered, 37 of them will be 737 MAX. Alaska Airlines is sure to get a discount on the list prices, as is the custom offered by Boeing on bulk orders.

The Boeing 737 MAX sees brisk demand in the single-aisle market for its fuel efficiency and low carbon dioxide emissions. Powered by the Commercial Fan Motor (“CFM”) International LEAP-1B engines, the Advanced Technology winglet of this airplane also enhances performance.

Additionally, the pivoting overhead stowage bins add to the spaciousness of the cabin. The bins give passengers more room to keep a carry-on roll-aboard near their own seat besides providing extra leg space. At the end, the 737 MAX is expected to incur the least operating cost in the single-aisle category.

The 737 variant is one of the best selling aircraft models for Boeing and contributes a major chunk of the commercial airplane revenue of the company. Till October 10, 2012, the company received net orders for 910 airplanes of different variants of 737.

Boeing received another big order for the 737 model last month from Avolon. The order for 25 airplanes included 10’ 737 MAX 8s, 5’ 737 MAX 9s and 10’ Next-Generation 737-800s. The total value of the order at list prices is pegged at $2.4 billion.

Boeing 737 continues to be a major contributor to Boeing’s Commercial Airplanes segment. Net orders of 910 airplanes out of a total 929 are a sufficient testament to the fact.

We also believe that Boeing is on course to meet its delivery goal of 585 to 600 airplanes in 2012. Till September 2012, the company delivered 436 airplanes including 310 ‘737 variant. However, we believe the delay in delivery of the 787 Dreamliner might impact the total delivery target of the company.

Boeing Co. retains a Zacks #3 Rank (Hold rating). Boeing’s peers, across diverse niches, are General Dynamics Corp. ( GD - Analyst Report ) , Lockheed Martin Corporation ( LMT - Analyst Report ) and Northrop Grumman Corporation ( NOC - Analyst Report ) .

Chicago-based, Boeing is a major operator in both commercial airline and defense sectors. Its global customer base includes individuals, organizations and governments. With a market capitalization of $53.25 billion, the company has 171,700 full time employees.