After a very challenging year for the aerospace industry, major players in the field are forging ahead with groundbreaking research and development in the hopes of a brighter future.
The pandemic of 2020 led to a near-collapse in air travel, as lockdowns and travel restrictions severely impacted revenues. As a result, airlines were forced to delay or cancel orders for new aircraft designs.
Despite this setback, companies like Airbus and Rolls Royce remain committed to research and development as they search for innovative new designs that can reduce the environmental impact of air travel.
Airbus
Airbus recently announced three hydrogen-powered design concepts that could be ready to fly by 2035. According to CEO Guillaume Faury, these three ZEROe concept designs represent “a historic moment for the commercial aviation sector.” However, Faury also notes that the “entire aviation ecosystem,” including airports, will need to invest heavily in new infrastructure to support these new designs.
Airbus is also anticipating an important deal in 2021 with several European countries for the Medium Altitude Long Endurance unmanned aerial system, also known as the Eurodrone. This drone will be used for intelligence, surveillance, and reconnaissance and was first unveiled at the 2018 ILA Berlin Air Show.
Rolls-Royce
Rolls-Royce also has exciting developments ahead, with their sleek, all-electric aircraft ‘The Spirit of Innovation’ ready to attempt to break the world speed record. Capable of flying at over 300mph, this aircraft could be a world-leader in zero-emissions innovations and can fly from London to Paris on just one charge.
For the record attempt, Rolls-Royce will team up with another British electric motors company, YASA, who have manufactured the three 750R lightweight e-motors needed for the plane.
Aerospace Trading
Like the rest of the industry, share prices for both Airbus and Rolls-Royce have been volatile over the past year. However, continued investment in developing cleaner air travel solutions shows that the aerospace industry remains optimistic about its future prospects. The potential for revenues to return to a healthy level and stocks to rise is helped by long-term plans with a strong focus on innovation.