Since 1948, the Farnborough Airshow has been a venue for Boeing and Airbus to announce billions of dollars in orders. The airshow serves as a crucial platform for both manufacturers to demonstrate their latest innovations and secure new business amid a recovering aviation market … writes Kaliph Anaz
The Farnborough International Airshow, the second-largest aviation event in Europe after the Paris Airshow, concluded on a positive note despite ongoing global supply chain issues threatening the industry. Sector giants Boeing and Airbus secured significant orders, upholding the prestige of the show.
Since 1948, the Farnborough Airshow has been a venue for Boeing and Airbus to announce billions of dollars in orders. The airshow serves as a crucial platform for both manufacturers to demonstrate their latest innovations and secure new business amid a recovering aviation market.
Prime Minister Keir Starmer attended the event on the inaugural day, revealing his government’s commitment to investing more in infrastructure and skills development. The Prime Minister praised Airbus and Rolls-Royce for creating apprenticeship opportunities for youngsters to hone their skills.
Boeing and Qatar Airways announced an order for 20 more 777-9 airplanes, the world’s largest and most fuel-efficient twin-engine jet. This order expands the carrier’s 777X order book to nearly 100 airplanes. In addition to the 777X family, Qatar Airways has 12 787 Dreamliners and 25 737 MAX aircraft on order.
Meanwhile, Airbus bagged a major order from another Middle Eastern carrier Flynas. The Saudi low-cost carrier signed a Memorandum of Understanding (MoU) with Airbus for 75 A320neo family aircraft and 15 A330-900s. This strategic agreement will expand the airline’s capacity, and range, and enhance its overall fleet capabilities.
The deal was signed in the presence of the President of the General Authority of Civil Aviation (GACA) of Saudi Arabia, H.E. Abdulaziz bin Abdullah Al-Duailej; Chairman of the Board of NAS Holding Ayed Al Jeaid; Flynas Chief Executive Officer & Managing Director Bandar Almohanna; and Airbus Chief Executive Officer, Commercial Aircraft, Christian Scherer.
The new aircraft will join the carrier’s all-Airbus fleet serving international, domestic, and regional routes. The new A330-900 aircraft will feature a two-class configuration, accommodating up to 400 passengers. The A330neo delivers unbeatable operating economics, powered by the latest-generation Rolls-Royce Trent 7000 engines, featuring new wings and a range of aerodynamic innovations resulting in a 25 percent reduction in fuel consumption and CO₂ emissions compared to previous generation competitor aircraft. The A330neo is capable of flying 8,150 nm / 15,094 km non-stop, providing ultimate comfort with more passenger space, a new lighting system, the latest in-flight entertainment systems, and full connectivity throughout the cabin.
The deals announced across the first four days of the airshow were worth a total of £81.5bn, according to the organizers ADS Group. The trade association for the UK’s aerospace, defense, security, and space sectors highlighted that the deals agreed are worth an estimated £13bn to the UK. The 260 firm aircraft orders alone are worth £6.4bn for the UK, while 808 firm engine orders are worth at least another £1.2bn to the UK at current prices.
The Arrival of Air Taxis
The 2024 edition of the Farnborough International Airshow witnessed the arrival of air taxis. Electric vertical take-off and landing (eVTOL) aircraft captured the attention of visitors. Several air taxi makers, including Embraer’s Eve, Joby, and Boeing-backed Wisk, showcased their prototypes, while a few new entrants announced deals and new developments. Spanish eVTOL company Crisalion announced a pre-order deal with Dubai’s Air Chateau for 10 of its 16-rotor Integrity aircraft. German aircraft maker Lilium struck a deal with Saudi airline Saudia for 100 of its fanjet-powered eVTOLs. Lilium also has a deal with ArcosJet in Dubai. UK-based Vertical Aerospace announced that its VX4 prototype successfully performed its first tethered piloted flight as it begins the “wheels up” phase of testing.
Industry Forecast
ADS recently released its Aerospace Sector Outlook, showcasing the sector’s value add of £10.9 billion to the UK economy, an increase of 16% compared to 2013 figures. The figures highlight 104,000 direct jobs in the aerospace sector, with a median salary of £48.7k – 39% higher than the UK average, with the vast majority (88 percent) located outside of London and the Southeast.
“With record industry attendance at the Farnborough International Airshow, the heightened attention towards the world’s aerospace and aviation ecosystem is largely behind this mammoth show of commitment to our sector,” said Aimie Stone, Chief Economist at ADS. “Adding to this, the firm commitment to 260 new aircraft highlights the industry’s confidence, resilience, and buoyancy.
“With demand for aircraft still outpacing the amount we are able to fulfill, it’s clear that the new government needs to address the challenges currently holding back our sector’s ability to deliver its full potential and impact on our economy.”
ADS is the UK trade association for the aerospace, defence, security, and space sectors, with more than 1,300 member businesses.
The latest figures published by ADS Group showcase exports from the UK aerospace sector being worth £20 billion in 2023. It further highlights that the UK’s aerospace sector is a hub for advanced manufacturing, supporting well-paid jobs across the country and driving decarbonisation through innovation, generating £30.5 billion in turnover, with a value add to the UK economy worth £10.9 billion.
ALSO READ: Trump Pledges US Leadership in Crypto and Bitcoin