PARIS- Boeing Company’s Chief Executive Officer of Commercial Airplanes, Stan Deal, stated that China’s aircraft manufacturing sector will require several decades before it can truly challenge the dominance of Airbus and Boeing in the industry.
The deal made these remarks ahead of the Paris air show, following the inaugural commercial flight of China’s 164-seat Comac C919 in May.
China Cannot Challenge Airbus and Boeing Duopoly
While acknowledging China as a potential third competitor, Deal emphasized the need for significant progress before it can pose a real challenge. He commended the competition brought by the COMAC C919, noting that it keeps Airbus and Boeing sharp.
However, Deal believes that substantial work remains to be done over the course of many years for China to become a formidable contender.
Deal emphasized that Boeing’s key strategy against the emerging competition is innovation. By continuously innovating, Boeing can maintain a leading position and avoid obsolescence.
Regarding future aircraft platforms, Deal mentioned that Boeing has yet to finalize its engine selection. With its upcoming offerings, the company aims to achieve a double-digit improvement in the 20% range or more.
New Boeing Model
The RISE engine option and conventional engines are being considered. Further, the unique high-wing design of the Transonic Truss-Braced Wing (TTBW) concept, developed in collaboration with NASA, provides added flexibility in accommodating engine choices.
Boeing remains receptive to customer feedback and preferences. As many customers express a desire for options. Deal emphasized the importance of listening to customers’ needs and aligning with their priorities.
In terms of financing, Deal mentioned that it is still too early to assess China’s appetite for aviation financing. Following the reopening of the Chinese market in January.
The impact of the COVID-19 pandemic and travel restrictions imposed since March 2020 necessitates more time. To evaluate the local finance market’s robustness compared to Western competitors.
While Chinese financiers and lessors have shown some activity, it remains uncertain if they will fully match the previous levels of interest and rigor when they return.
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