Boeing Confirms New Aircraft

after much deliberation Boeing has confirmed that a long awaited new commercial airliner will be built in its traditional home of Washington developments surrounding the new aircraft follow an agreement with some 33,000 employees working in the Washington State home to Renton and Everett the tentative agreement involves unions representing workers and comes with substantially increased relief from a wage perspective of a reported 25% jump and also other benefits such as health care in addition to those very positive ramifications for employees Boeing confirmed that its next commercial jet will be built in the region the agreement explicitly states that the company will commit to a new commercial airplane and all derivatives during the Project's life within the Union's jurisdiction this will include all program elements including final assembly with fabrication assembly generally major components such as interiors and wires part fabrication delivery operation and sub assemblies to just name a few of the many things that goes into building a plane however there is a significant catch for this new commercial airplane the board of directors must launch the program within 4 years otherwise this is seemingly voided a commitment to launching the program within 4 years doesn't necessarily mean the aircraft will actually formally be released anytime soon rather just Boeing needs a firm commitment for all of this to take shape and no doubt if it wanted to launch the program in say 4 years it would give it time to really refine what this aircraft was going to be but what next aircraft will be released as part of Boeing's commercial airplane portfolio well before this announcement Boeing had long been studying a new middle of the market airliner that would replace the 757 adequately known as the nma but some would but the 797 given this the only available say number configuration that could still have an aircraft released this nma would answer Airlines calls for an ideal jet to slot between types such as the Max and 787 previously would see the 757 and 767 here but obviously they are no longer produced and some Airlines and lessers were in fact screaming out for such a type however as time progressed Boeing would not move ahead with an nma seemingly confirming on a public scale that it would return to such an aircraft at a later date in reports from the likes of Reuters however and lacking confirmation from Boeing the aircraft being touted is a 737 replacement with still a lot of uncertainty on the eventual Direction at least publicly when the labor deal was announced but has not been totally confirmed or approved as I'll get into at the end of today's update why did Boeing cancel though the seven 97 as it was known well the plane Maker's decision was influenced by the lack of technological development yes Boeing believed that its next aircraft would desperately need new gen technology and pretty much because of this be a worthy upgrade on what was currently available across the market they didn't want say a minor incremental upgrade and push that out however towards the end of the 2010s especially into the early 2020s the consensus was that Boeing didn't have what it believed it required to move ahead with the next gen tie and that would be in proven Technologies ultimately Boeing said it would put the project on the back burner until the 2030s at least most likely in a bid to re-evaluate at this point what available Technologies would be to them and whether Airlines would still require such a type look no further than the x66 a with the ttbw wings that is currently being studied by Boeing and NASA all work and more that we're even seeing at airb is really helping to shape what the future of air travel is going to be like with the belief that say that next plane is going to be radically different and have to be as well to meet emission targets be sustainable and again have that pretty hefty jump in efficiency over the previous gen by Boeing making the decision though to basically postpone any development of this new plane they essentially were also seeding ground to European plane maker and rival a Airbus allowing for the Propel of the a321 XLR and other derivatives on top of that to be highly successful and without a true competitor as Boeing had nothing similar of that stature furthermore while the Max May often be pitted against the a321 Neo from some in forms of the 73710 it is important to note that in the time Airbus was able to launch build and certify a new a321 XLR the high capacity 73710 has still yet to be certified with no real time frame on that front this middle of the market has often been quoted as seeing demand well in excess of 1,000 units with some forecasting 3,000 units in a lifetime others more modestly believing you could get over 1,000 units therefore many onlookers believe that Boeing missed the boat with an enime and whatever this new aircraft is set to be if it does actually proceed which I'll get into a little bit more why it may not not it needs to not just be a worthy upgrade but needs to slot into a market where Boeing is going to be incredibly successful in there are already some early discussions that Boeing is too late I'd love to hear your take down below in the comments the upcoming years really are going to be essential for this American plane maker not only if you remember as it tries to repair its reputation and on top of that Implement new strategies that are aimed to adjust culture but also this American manufacturer knows it needs to begin competing with Airbus once more now that's not to say that there are not already certain aircraft types that go head-to-head but Boeing has definitely lost the title of the world's largest plane maker and has lost it for some time it also doesn't look to be getting that back anytime soon while competitor Airbus does face its own difficulties with regards to supply chains and output It Is by no means on the same scale as what Boeing is facing the long-term goal for Boeing would be to of course Rectify its problems but get back up there and contend with Airbus for that all important title and at the end of the day two successful leading manufacturers is exactly what this industry needs greater competition we'll see greater Innovation the future is one of the more talked about topics how will Airbus and Boeing move ahead with the commercial airplane Division and more importantly what will be released generally the consens for Boe is that they have to hit the nail on the head with whatever their next airplane is that could be an nma or potentially a 737 replacement the ladder we know has to come at some point and cannot be with that dated 737 fuselage unless there is absolutely massive adjustments to how the plane will overall fly however all of this in saying is easier said than done Boeing knows it needs to invest a lot in its next Jet and there's still a very good possibility that none of this will go ahead and that is due to two major roadblocks that will'll need overcoming one Boeing must see this new labor agreement approved at a vote that will occur on September 12th that'll give us a bit more clarity on the direction but following this we know Boeing must move ahead with such a new commercial airplane project in 4 years the board of directors having to Green Light it this would bring us close to 2029 and if announced at this point it would launch formally with customers in the 2030s but I think to really conclude as I and I'm sure you know best especially taking a look at the Last 5 Years this is all fantastic and it's great to see that Bing is moving ahead with Innovation but you can't say nail anything down at this stage of course one day we are going to see a new commercial aircraft from this manufacturer but when that is and what that is certainly remains all clear but at this point we'll take anything we can get a bit of Hope that something is in the works thanks a lot for watching I'd love to hear your take down below in the comments see you tomorrow for more regular news Recaps [Music]