The civil aerospace market is alive and well, as evidenced by myriad aircraft orders and business agreements announced during the Dubai Airshow in Dubai, United Arab Emirates (U.A.E.) this week.
Richard L. Aboulafia, vice president of analysis at Teal Group in Fairfax, Va., forecasts the worldwide aircraft market to contribute roughly $4 trillion to the world economy over 10 years (through 2022), with the civil sector accounting for the largest piece of the pie. If orders revealed during the Dubai Airshow are any indication, Aboulafia’s predictions are already coming to fruition.
Within three hours of opening its doors, the Dubai Airshow’s order tally reached $162.6 billion (U.S.). In just hours, the Airshow had surpassed its previous record of $155 billion set in 2007. Among the biggest players were Boeing, Airbus, and Bombardier.
Bombardier Aerospace concluded a successful week at the 2013 Dubai Airshow, having announced firm orders and commitments for up to 38 aircraft valued at up to $2.01 billion (U.S.).
Airbus won 160 orders and commitments, with a total value of roughly $44 billion, during the 2013 Dubai Airshow. Among the orders received are: 142 firm orders worth $40.4 billion for 50 A380, 40 A350-900, 10 A350-1000, 26 A321neo, 10 A320neo, and 6 A330-200F, as well as 18 Memorandums of Understanding (MOUs) valued at $3.6 billion.
Boeing surfaced as the winner from the Dubai expo, where the company gleaned orders for more than 1,000 787 Dreamliner and made the 777X launch the most successful ever for a large aircraft.
This geek is elated to see the global aerospace market so healthy and seemingly unstoppable in year over year growth.