Farnborough Airshow sees $46.4B in deals announced on first day
Aerospace industry’s biggest event of the year, The Farnborough International Airshow, started out strong – bringing in $46.4 billion in deals on its very first day on July 16, 2018, and surpassing the results achieved during previous Airshow in 2016, which drew $23 billion.
Orders worth $43.6 billion were placed for 311 civil aircraft and more than $2.8 billion was secured in engine orders, Farnborough announced. As ever, the rival plane manufacturing giants Airbus and Boeing have been the biggest winners.
The Prime Minister of the UK, Theresa May, officially opened the Airshow, saying: “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.”
Gareth Rogers, Chief Executive of Farnborough International stated: “The Farnborough International Airshow connects an industry worth $350bn. From the orders announced through to presence of global industry leaders and government representatives from around the world, it is the preeminent showcase for businesses of all size.”
However, analysts will be watching the transactions closely to see how many of the deals are brand-new, and how many involve adjusting earlier orders or switching models. Going into the Airshow, the commercial aircraft backlog stood at 14,327 – the largest in history.
The Farnborough International Airshow is taking place on July 16-22, 2018. This year, the show is the most internationally attended, with representatives from nearly 100 countries and an unprecedented number of military and civil commercial delegations.