Reading the press these days, investors would assume that Airbus is almost out of business and Boeing (NYSE: BA) is having one of the great years in U.S. corporate history. But, that is not entirely true.

Through early July, Boeing had orders for 580 planes, lead by demand for its new 787 Dreamliner. The sales have come at the cost of sales for Airbus' A350.

But Airbus has a big lead in orders for shorter-range single aisle planes, and at the end of June had a total of 680 orders year-to-date.

The figures and the difference in the types of planes being ordered from each company may signal a division in the market. And it could last for some time.

Airbus has had little success in marketing its two-engine long haul A350, and its super-jumbo A380 is behind schedule and being outsold by the 747-8. It is unlikely that it will catch Boeing in this end of the market, at least not anytime soon.

But, Airbus products have become popular in the segment which was once dominated by the 727 and 737. This market is for planes that fly a few hundred miles between cities and may make several flights each day.

Airbus, contrary to popular opinion, is not ready to be buried.

Douglas A. McIntyre is a partner at 24/7 Wall St.