- Passengers could see their flight times cut in half by the early 2020s, said Blake Scholl, founder and CEO of Boom Technology.
- Scholl said his company's jets will be faster and less costly than the supersonic Concorde jet.
After the demise of the Concorde supersonic jet in 2003, flight times have stayed relatively constant — but Blake Scholl, founder and CEO of Boom Technology, says air travel could get a speed boost in just a few years.
Scholl says passengers could be traveling on his company's supersonic planes within the next decade. "We're flying our first prototype end of next year. This is not something that's science fiction or decades off, this is something happening very quickly," Scholl said Monday on CNBC's "Squawk Alley."
The Concorde never turned a profit, but Scholl says new development technology makes his company's jets faster and less costly for passengers.
"Concorde was designed half a century ago with slide rules and wind tunnels. Today we've got better aerodynamics, new materials, better engines, and all that adds up to a 75 percent reduction in operating cost," he said.
Scholl said 1,300 supersonic jets could be built over 10 years, according to third-party projections.