Global market is forecast at almost 43,000 new airplanes through 2038: Boeing

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 On the sidelines of the Farnborough International Airshow, Boeing revealed its 2018 Commercial Market Outlook, mentioning that the global market is forecast at almost 43,000 new airplanes, valued at $6.3tn, and demand for $8.8tn worth of commercial services through 2038, according to a statement from the company.

Boeing also announced a total of $98.4bn in orders and commitments for commercial airplanes at list prices, as well as $2.1bn in commercial and defense services orders and agreements. 

“Boeing led the way at Farnborough, demonstrating value for our customers, capturing important new business in products and services, and announcing the unique strength of our strategic partnership with Embraer. We also invested in our European communities and launched our new Boeing NeXt organisation—proving the future is built here, at Boeing,” said Boeing Chairperson, President, and CEO Dennis Muilenburg.

“We will continue to win in the marketplace thanks to our talented team, who innovate across our enterprise with One Boeing collaboration and deliver on our proven portfolio with relentless customer focus,” added Muilenburg.

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Boeing marked an outstanding week for order capture in commercial aviation, with customers announcing 673 orders and commitments in total, reflecting a continued resurgence in demand for freighters and strong order activity for the 737 MAX and 787 passenger airplanes, the statement said.

Boeing secured 48 orders and commitments for the 777F and five for the 747-8F, reflecting continued strengthening in the cargo market globally, noted the statement.

Customers also continued to demonstrate a strong preference for Boeing’s passenger airplane portfolio, with 52 orders for the 787 and 564 for the single-aisle 737 MAX, including a major commitment from VietJet for 100 airplanes and strong demand for the largest variant of the MAX family, with 110 orders and commitments for the 737 MAX 10, said the statement.

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On the services side of the business, Boeing secured commercial and government customers, including Antonov, Atlas Air, Blackshape, Cargolux, Emirates, EVA Airways, GECAS, Hawaiian Airlines, International Water Services, Malindo Air, Okay Airlines, Primera Air, Royal Netherlands Air Force, United States Air Force, WestJet, and Xiamen Airlines.

Additionally, Boeing and Embraer leaders held their first news conference together since announcing plans for a strategic partnership. Boeing Chief Financial Officer and Executive Vice President for Enterprise Performance & Strategy Greg Smith, Embraer Chief Executive Officer and President Paulo Cesar de Souza e Silva, and Muilenburg presented details of the proposed partnership, which includes ventures in commercial airplanes and lifecycle services, as well as defense.

During the show, Boeing also announced its collaboration with artificial intelligence company SparkCognition to deliver unmanned aircraft system traffic management (UTM) solutions. This announcement coincided with the launch of Boeing NeXt, an incubator organisation for future commercial mobility solutions that will shape the emerging world of travel and transport. Boeing NeXt will leverage the company’s research and development activities and investments in areas such as autonomous flight, smart cities, and advanced propulsion, and address transportation challenges of the future by moving people and goods with proven technology.

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Boeing also highlighted its commitment to future aerospace innovators with a $5m investment in Newton Europe to launch Science, Technology, Engineering and Math (STEM) education “Newton Rooms” across nine European countries.

The show marked the launch of a new brand campaign, “The Future is Built Here”, highlighted by a dynamic exhibit that featured interactive virtual and augmented-reality displays that showed visitors Boeing’s commercial and defense products, service offerings, and future innovations.

The post Global market is forecast at almost 43,000 new airplanes through 2038: Boeing appeared first on Daily News Egypt.

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