At the Dubai Air Show Exhibition 2019, which ended on Nov 21, more than $50 billion of aircraft were sold. Giants like The Boeing Company (BA - Free Report) and Airbus SE along with other manufacturers showcased their defense as well as commercial aircraft.
Boeing vs Airbus: Who Benefitted the Most?
The year 2019 has been a tough one for Boeing’s commercial aircraft division that has been grappling with low delivery owing to the grounding of the 737-product line since March in the wake of the two deadly crashes. Meanwhile, Airbus has significantly benefitted from the drop in Boeing’s commercial deliveries on a global scale. As expected, the Dubai show ended with Airbus toppling its arch rivals, both in terms of orders procured.
Airbus received a total of 220 orders during the mega event, whereas Boeing clinched 95. On a single day, Airbus received an order for 50 Airbus A350-900 wide-body aircraft from Emirates and 120 A320neo family aircraft orders from Air Arabia.
Boeing, in the meanwhile, received big orders from Emirates for its 30 787-9 Dreamliner airplanes, valued $8.8 billion going by current list prices. Surprisingly, Boeing managed to win orders amounting to more than $5 billion for its 737 Max aircraft during the event, irrespective of the turmoil the company is facing with relation to the 737 jets.
Global Aircraft Market Prospects
The large number of deals sealed during the Dubai signal at the improvement in the global commercial jet market. Rapid rise in passenger and freight traffic has been bolstering demand for commercial airplanes.
In line with this, Boeing released its global market outlook for commercial jets this June, wherein the company raised its 20-year forecast for global jetliner demand by 3%. Boeing predicts a requirement of around 44,040 new planes worth $6.8 trillion between 2019 and 2038 globally.
As demand in the global aircraft market continues to soar, such projections drive popularity of air shows, like the latest one in Dubai.
Other Highlights of the Event
Alongside Boeing and Airbus, commercial aircraft manufacturers like Embraer (ERJ - Free Report) , General Dynamics Corp. (GD - Free Report) and Textron Inc. (TXT - Free Report) exhibited new designs during the mega event.
Per a report by The National, Brazilian aircraft giant Embraer signed two deals at the Dubai Airshow, covering the sale of six planes for a combined total of $374 million. Textron exhibited some of its next-generation aircraft at the event, such as Bell 505 Jet Ranger X light single engine helicopter and the Bell 525 Relentless helicopter.
Meanwhile, General Dynamics showcased three of its leading business jets at the show, namely, the Gulfstream G650ERTM, the newly-in-service Gulfstream G600TM, and the high-tech Gulfstream G500TM.
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