![]() ![]() On the order front and on the market side, we continue to see very strong demand across the portfolio. Welch sounded optimistic about his company's future, sharing that demand was strong across Boeing's portfolio, as he explained that: Matt Welch sharing an update during the firm's fourth quarter of 2022 earnings call held in January 2023. NASA's Sustainable Flight Demonstrator project aims to invest $425 million with Boeing over seven years as part of the White House's Climate Action Plan.Īt the same time, demand for conventional aviation is also booming, with Boeing's chief executive officer (CEO) Mr. Not to be left behind, the National Aeronautics and Space Administration (NASA) is looking at the future as it is designing aircraft that reduce fuel use through their airframe. ![]() On this front, Boeing announced in February 2023 that it plans to procure 5.6 million gallons of sustainable aviation fuel for its 2023 flight operations, more than doubling last year's procurement and accounting for a quarter of the aerospace giant's total fuel needs. One of the world's most advanced jet engine manufacturers, General Electric Company (NYSE:GE), has been researching their use since 2017 and found that not only did the mechanics who are responsible for tightening nuts on fuel lines see their productivity improve by 8% due to smart glasses but that 85% of those surveyed said that they reduced errors and 60% preferred using the wearables.Īnother trend in the industry is the push towards sustainable aviation fuels since air travel is among the leading sources of carbon dioxide emissions. Boeing is not the only one that uses smart glasses in the aircraft supply chain. For instance, The Boeing Company (NYSE: BA), which is one of the world's largest aircraft manufacturers, has found that using these wearables in its wire harness assembly has enabled it to reduce production time by a massive 25%. These are eyewear that comes equipped with digital displays and provides the assembly technician useful inputs throughout their activities. One interesting innovation that has made its way to the manufacturing line is the use of smart glasses. The aircraft industry is also evolving, with new manufacturing and computing technologies providing companies the opportunity to improve their operations. However, despite being the largest, North America will not be the fastest growing sector, as this title will go to Asia Pacific which is fueled by the growing populations of India and China spurring demand and increasing the need for planes to fly people around. For instance, a research report from Polaris Market Research outlines that the aircraft manufacturing market was worth $413 billion in 2021 and that it will grow at a compounded annual growth rate (CAGR) of 3.7% between then and 2030 to be worth an estimated $626 billion by the end of the forecast period.Īs is the case with nearly every high tech industry, perhaps except semiconductors, Polaris Market Research also highlights that North America was the largest aircraft manufacturing market in 2021 with a large demand for next generation airplanes fueling the growth. This high cost also makes the aircraft manufacturing industry one of the most lucrative in the world - and one which sees little threat from new entrants. Due to their size, jets also take months to assemble and end up costing millions of dollars. Naturally, this amount of complexity makes for high barriers to entry into the industry and leaves only a handful of firms that are able to make and sell airplanes. ![]() The modern day jet aircraft - whether civilian or military - has hundreds of thousands of parts which are often shipped from all over the world for final assembly into the beast that takes to the skies. When it comes to high technology, the aircraft industry ranks right at the top of the food chain, alongside semiconductor fabrication and astronautics. For more companies, head on over to 5 Biggest Airplane Manufacturing Companies in the World. In this piece, we will take a look at the 15 biggest airplane manufacturing companies in the world. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |