No doubt the debate will carry on this week about whether the industry is over-heated and creating a bubble for itself. The current movement shows no signs of slowing down. For those that are calling it a "bubble" it has proven to be quite a resilient one and one we believe is actually reflective of real growth, write Neil Hampson and Scott Thompson from PwC.
As orders go at air shows, the latest deal between Boeing and Air Lease Corp is not the biggest one ever done. Still, the $7.2 Billion ALC is paying for 75 new 737 MAX airplanes is significant and highlight the continued demand for more fuel-efficient single aisle planes.
The private aviation industry in Europe has undergone a challenging few years, keeping step with the similarly challenging macro-economic environment.
New venues such as Singapore, Dubai and Bangalore have grown in importance with the global economy, but Farnborough is not an anachronism; it remains a premier venue to take the industry's pulse.
A few days left before the Farnborough Air Show opens its gates to trade visitors, and signs for aircraft manufacturers are not good.
The world's No. 2 aircraft maker put top salesman Ray Conner in charge of its commercial plane unit only last week, and faces international customers' questions on how it plans to replace its successful but aging 777 mini-jumbo.
Domhnal Slattery, CEO of Avolon, told CNBC "Airlines all over the world are looking for more fuel efficient aircrafts and the Boeing 737 MAX really delivers that for airlines so we have a very strong conviction that this aircraft is going to be in big demand on a global basis."
Siegfried Russwurm, the CEO of Siemens Industry, told CNBC that despite the China slowdown, weakening demand for technology and the global economic crisis, there is longevity in the aeronautical industry. "We strongly believe that the aerospace industry is a growing vertical in the long-run. It may be bumpy every now and then but in the long-run, growth potential is there."
Eric Connor, CEO of NetJets Europe, told CNBC that the "private jet market has been hit less by the global economic difficulties than other areas in aviation. We make long and medium term commitments with our owners, which gives us more solidity," he said.