Boeing now hopes to have permission to fly the 737 Max in mid-2020. Boeing will likely be losing about $1 billion every quarter until it the Max is permitted to fly and for Boeing to be allowed to sell the 400 planes they have built.
Airbus already a larger backlog of orders and this incident is driving more future orders to Airbus instead of Boeing.
Boeing brand and image is damaged. There has been nearly a 30% drop in orders for non-737 Max Boeing planes.
The loss of around $10-15 billion over a 15-18 month grounding will also weaken Boeing’s ability to invest in new planes and technology.
The US government will not allow Boeing to go bankrupt, but it will take many years to rebuild trust in Boeing engineering.
There will be a shift to electric hybrid and all-electric regional planes in the 2020s. Boeing will have drastically weakened finances when they will need to execute on new technology.
A lot of investment is needed for the new technology and designs.
The 737 Max problems show that Boeing has to rebuild its engineering culture. This will also take a lot of time.
Wang is a prolific business-oriented writer of emerging and disruptive technologies. He is known for insightful articles that combine business and technical analysis that catches the attention of the general public and is also useful for those in the industries. He is the sole author and writer of nextbigfuture.com
, the top online science blog. He is also involved in angel investing and raising funds for breakthrough technology startup companies.
He gave the recent keynote presentation at Monte Jade event with a talk entitled the Future for You. He gave an annual update on molecular nanotechnology at Singularity University on nanotechnology, gave a TEDX talk on energy, and advises USC ASTE 527 (advanced space projects program). He has been interviewed for radio, professional organizations. podcasts and corporate events. He was recently interviewed by the radio program Steel on Steel on satellites and high altitude balloons that will track all movement in many parts of the USA.
He fundraises for various high impact technology companies and has worked in computer technology, insurance, healthcare and with corporate finance.
He has substantial familiarity with a broad range of breakthrough technologies like age reversal and antiaging, quantum computers, artificial intelligence, ocean tech, agtech, nuclear fission, advanced nuclear fission, space propulsion, satellites, imaging, molecular nanotechnology, biotechnology, medicine, blockchain, crypto and many other areas.