$100 billion in orders and commitments announced at Farnborough International Airshow, plus an investment in our European communities
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 $98.4 billion in orders and commitments for commercial airplanes at list prices and $2.1 billion 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 organization—proving the future is built here, at Boeing," said Chairman, President and CEO Dennis Muilenburg. "
Boeing marked an outstanding week for order capture in commercial aviation, with customers announcing 673 orders and commitments in total, including many orders for airplanes or services from European customers including Cargolux, CargoLogicHolding, WestJet, Primara Air, GoShawk Avation, TAROM (Romanian Air Transport) and DHL.
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 Commercial Market Outlook reveals approximately 8,490 airplane deliveries worth 1,240 billion are forecast in Europe during this time period, making Europe the second largest region in the world in terms of value for airplane demand. Europe is also second after Asia Pacific in value for predicted airplane services needs, valued at $1,875 billion in the next 20 years.
Boeing 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.