Aircraft orders, engine contracts reach $98B, focus on flying further, faster, greener at Farnborough Airshow

Aircraft, engine orders reach $98B, focus on flying farther, faster, greener at Farnborough Airshow

Aircraft orders exceed $95 billion, while engine and engine service agreements reach $3 billion in the first two days of the 2018 Farnborough International Airshow.
Aircraft orders exceed $95 billion in value and are complemented by roughly $3 billion in aircraft engine and engine service agreement contracts announced in the first two days of the 2018 Farnborough International Airshow, being held in Farnborough, England, this week.


 
“The future starts at Farnborough; our exhibition halls are full of innovation that will shape how we fly, enabling us to go further, faster, and with less environmental impact,” says Farnborough International Commercial Director Amanda Stainer.  
 
“The Farnborough International Airshow connects an industry worth $350 billion,” says Gareth Rogers, chief executive of Farnborough International.
 
Day one, July 16, at the 2018 Farnborough International Airshow saw $46.4 billion in deals, surpassing the $23 billion logged on the first day of the 2016 airshow. Orders were placed for 311 civil aircraft across the show worth $43.6 billion. More than $2.8 billion in engine orders were also announced. Going into the show, the commercial aircraft backlog stood at 14,327 – the largest ever.


 





















U.K. Prime Minister Theresa May officially opened the Airshow on July 16, roughly 37 weeks before the U.K. leaves the European Union. The Prime Minister was joined by astronaut Tim Peake who was at the airshow’s Space Zone following the announcement of a vertical launch spaceport in Sutherland, Scotland. (Read: "U.K. Space Agency partners with industry to advance spaceflight program" online.)

 “This is an incredibly exciting time for aerospace. Not only is there huge growth potential, but many of the developments taking place have the potential to transform the way we fly,” May said during the opening ceremony.
 
The 2018 Farnborough International Airshow, which continues all week, is the most globally attended with nearly 100 countries represented and an unprecedented number of military and civil commercial delegations.    
























Day two of the airshow saw an additional $51.4 billion in business agreements, including orders for more than 530 aircraft, bringing the total value of aircraft ordered at the airshow thus far to $95.5 billion.


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Courtney E. Howard is editorial director and content strategist at SAE International, Aerospace Products Group. Contact her by e-mail at courtney.howard@sae.org
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