Boeing announces $100B in orders and commitments at Farnborough Airshow
Boeing strengthened its position as the global leader of the aerospace industry, booking historic orders and showcasing its innovation and strategy for growth at the Farnborough International Airshow. At the close of the industry portion of the show, Boeing announced a total of $98.4B in orders and commitments for commercial airplanes at list prices and $2.1B in commercial and defense services orders and agreements. At the show, Boeing also revealed its 2018 Commercial Market Outlook, raising its 20-year outlook for commercial airplanes and services to $15.1T. The global market is forecast at almost 43,000 new airplanes, valued at $6.3T, and demand for $8.8T 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, Boeing also announced its collaboration with artificial intelligence company SparkCognition to deliver unmanned aircraft system traffic management 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. Boeing also highlighted its commitment to future aerospace innovators with a $5M investment in Newton Europe to launch Science, Technology, Engineering and Math education "Newton Rooms" across nine European countries.