Boeing, and its arch rival Airbus, have in recent years witnessed something of a boom in airplane orders despite the US and Europe battling against financial crisis and economic slowdown.
Guy Hachey, president of Bombardier Aerospace, told CNBC, "in the more developed markets like Europe and North America things are pretty slow right now, there is a lot of anxiety so most of the growth, most of the new orders are coming from emerging markets."
The bumper order Emirates placed for Boeing 777s at the start of the Dubai Airshow was made in anticipation of strong growth in emerging market demand, Tim Clark, president of the airline, told CNBC Monday.
The decade-long battle between Boeing and European arch-rival EADS for a $35 billion refueling airplane contract from the Pentagon ended in defeat for Airbus owner EADS earlier this year – but Chief Executive Louis Gallois insists that the bidding process improved its relationships with the U.S. military.
As the eternal battle to secure aircraft orders continues, Boeing’s newest product, the 787 Dreamliner, landed in the United Arab Emirates for the 2011 round of the Dubai Airshow. It is the first time the plane is shown to the Middle East public with a readied mockup interior.
While other industries remain mired in red ink amid the global recession, Boeing and Airbus, the two largest aircraft manufacturers, are entering a period of unprecedented growth.
James Albaugh, the CEO of Boeing Commercial says rising oil prices are a double-edged sword for the planemaker. He also discusses production of the new 787.
Despite being profitable in 2011, the airline industry is bracing for turbulence in 2012. The combination of major tax increases and fuel prices that are widely expected to rise means there could be rougher skies ahead for the carriers. Passengers, as well, will likely face fewer frills, fewer route options and notably higher prices.