Boeing Co (BA) Stretches Its Eyes Beyond American Markets Till Asian Shores

Anyone who keeps track of the aviation industry must have definitely come across Boeing Co (NYSE:BA)’s inauguration of its CST-100 spacecraft in UAE at an innovation summit. CST is meant as an acronym for crew space transport and this capsule, which is designed to carry seven crew members has been primarily constructed for NASA to use it on its missions.

This display of latest technology came on the footsteps of the company’s Vice-President and Senior Managing Director of Asia-Pacific region, Foster Arata, discussing on CNBC as to why his company is looking beyond American shores at Asia, particularly China. He said that one of the reasons was the substantial growth in the field of aircraft financing in Asia which Boeing Co (NYSE:BA) is well-poised to capitalize on. On being asked about facing competition from local aircraft manufacturing industries, the senior official expressed confidence in the quality of his company’s products and labeled competition as being healthy for everyone.

Boeing (BA)

Chicago-based Boeing Co (NYSE:BA) has also projected that demand for commercial pilots and technical expertise in Asian countries is expected to grow by about 39% over the next two decades. Bob Bellitto, Boeing Flight Services Director, describes it as follows –

“The Asia Pacific region is seeing tremendous economic growth and is set to become the largest air travel market in the world. That growth rate means booming career opportunities for those interested in becoming commercial airline pilots and maintenance technicians over the next two decades. These are strong, stable and challenging jobs in one of the most technologically advanced industries in the world.”

On the topmost rung is of course China, followed closely by Southeast Asia and Northeast Asia occupying the last position.

Boeing Co (NYSE:BA) has also been in news for another reason, namely donation of its third-flight test 787 to Museum of Flight, Seattle. This aircraft, which had flown for the first time on 14th March, 2010, not only performed multiple flight tests but also participated in the company’s ‘Dream Tour’ wherein it visited 23 countries around the world.

This article has been written by Vinita Basu.

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