Boeing announced at the Farnborough International Airshow a total of $98.4 billion in orders and commitments for commercial airplanes at list prices and $2.1 billion in commercial and defense services orders and agreements, as it showcased its innovation and strategy for growth.
“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 organization—proving the future is built here, at Boeing,” said Chairman, President and CEO Dennis Muilenburg in a press release which Asharq Al-Awsat received a copy of.
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. Boeing secured 48 orders and commitments for the 777F, five for the 747-8F, reflecting continued strengthening in the cargo market globally.
Customers also continued to demonstrate a strong preference for Boeing’s passenger airplane portfolio, with 52 orders for the 787 and 564 for 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, the company's statement said.
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.
At the show, Boeing also revealed its 2018 Commercial Market Outlook, raising its 20-year outlook for commercial airplanes and services to $15.1 trillion. The global market is forecast at almost 43,000 new airplanes, valued at $6.3 trillion, and demand for $8.8 trillion worth of commercial services through 2038. The strength of the cargo market, noted in the CMO, was underscored by more than 50 freighter orders and commitments at the show.
During the show, the company 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 organization 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.
The company also highlighted its commitment to future aerospace innovators with a $5 million investment in Newton Europe to launch Science, Technology, Engineering and Math (STEM) education “Newton Rooms” across nine European countries.
Finally, 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.
