The Farnborough Air Show 2024 showcases the latest in aviation technology and major industry moves. Boeing has taken a subdued approach, focusing on orders rather than flashy displays amidst ongoing challenges. Meanwhile, Embraer is capitalising on the opportunity, promoting its fuel-efficient E2 jets and exploring future expansions.
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#FarnboroughAirShow #AviationTechnology #Boeing #Embraer #E2Jets #AerospaceIndustry #AviationNews #AirShow2024 #AircraftOrders #AerospaceInnovation #AviationFuture #FuelEfficiency #AerospaceExpansion #AviationEvents #IndustryUpdates
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NewsTranscript
00:00It's one of the biggest events on the aviation calendar, the UK's Farnborough Air Show, where
00:08deals are done and the latest innovations are on display.
00:12But this year, one aviation giant is staying on the ground.
00:16Boeing is keeping a low profile.
00:18While it's still taking orders, it's noticeably choosing to avoid any showy displays, as the
00:24beleaguered playmaker adjusts course after a series of crises.
00:29Boeing is facing unprecedented challenges.
00:32It's in an existential crisis.
00:34Every month, sometimes every week, we see a new troubling headline with quality control
00:39issues.
00:40That's not a quick fix.
00:42Boeing has been reeling since a door panel flew off one of its jets in January and has
00:47had to reduce production.
00:49It's also faced legal challenges after two deadly plane crashes in 2018 and 2019.
00:55Boeing says it's undergoing transformational change across its safety and corporate culture.
01:00But supply chain issues affecting the industry aren't helping its woes.
01:05And competitors are circling.
01:08At the moment, there's not enough production.
01:12There's not enough airplanes to meet demand from airlines in particular.
01:17So the more aircraft that can enter this space, the better at the moment, because there's
01:22a backlog which will take years to clear.
01:26Any company that can come in and say we don't have so many of those issues is going to be
01:31more attractive to airline customers.
01:34The world's third largest planemaker, Embraer, is currently experiencing what it calls very
01:38positive momentum.
01:41It's seeing a strong demand for its small, narrow-body jets and has production slots
01:45available from 2026, meaning it can deliver on new sales before its rivals.
01:51We can actually offer positions much earlier than they can offer.
01:55And then once they see this opportunity, they are going deeper into the aircraft.
02:00And they are realizing that this aircraft, for instance, is more fuel efficient, has
02:05lower maintenance costs, has more range than they thought.
02:09That's why we have really unprecedented level of customers considering taking the E-2 as
02:16a complement to their large aircraft.
02:20Embraer's success has fuelled speculation it may look to manufacture a larger jet to
02:24compete directly with Boeing and the world's largest planemaker, Airbus.
02:30While Embraer says it doesn't have any plans to make a larger aircraft, its CEO says it
02:35has the capability.
02:38But even with Boeing weakened, disrupting the duopoly would be challenging.
02:42It's a very difficult challenge for Embraer to be able to break open that duopoly between
02:47the two major airframers right now, even though Boeing is in a weakened state.
02:54Because to create a new clean-sheet aircraft takes years, sometimes decades, to bring to
02:59market.
03:00And also there are other new competitors coming in.
03:03So the Chinese COMAC aircraft, for example, there's a lot of activity going on in the
03:08industry.
03:10Embraer say they're looking closely at what comes next, as Boeing remains on the back
03:14foot.