The aerospace industry is booming! That's the latest word coming out of the big Farnborough Airshow held recently in Farnborough, England where Boeing and Airbus, the two largest head-to-head competitors captured some record-breaking orders for new commercial aircraft.
Forecast International Inc., a market intelligence and analysis firm, reported that both "Airbus and Boeing are gearing up to roll out large commercial jetliners in ever-increasing quantities over the next 10 years."
The big question, noted the report, is whether or not component suppliers will be able to keep up with demand. Forecast International's newly released "The Market for Large Commercial Jet Transports" projects that 14,655 large commercial airliners will be produced in the 10-year period from 2012 to 2021, with an estimated production value of $2.04 trillion in constant 2012 U.S. dollars.