New York, August 31 (FinanceEnquiry.com) – In order to meet the challenge from Airbus SAS, Boeing has sharpened its marketing tools to capture half of the total worldwide market for jetliners worth $2 trillion in the next 20 years. Its latest innovation is the fuel-efficient 737 MAX that is being fielded to take on Airbus’s upgraded A320neo. With improved and efficient engines, the 737 MAX has already grabbed 496 order commitments.
The commitments are from five different customers and deliveries are likely to start in 2017. One hundred jetliners are scheduled to be sold to American Airlines, as per an agreement signed in July. American distributed its requirement of 460 jetliners between Airbus and Boeing after Airbus started offering more fuel-efficient engines on its A320 narrow body.
Boeing is planning to sell 23,000 narrow-body jets in the next twenty years at a value of almost $2 trillion. France-based Airbus leads in commercial deliveries and Boeing ranks second. Airbus has mustered more than 1,000 orders and commitments since it presented the A320 neo in December.
Jim Albaugh, Boeing Commercial Airplanes President said that the 737 MAX “is an airplane that’s going to allow us not to just maintain the market share we have, but one that will allow us to grow the market share.”
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