The Dubai Airshow began this weekend with some of the biggest aviation deals ever recorded, according to CNN.
Rumors about the size of some orders were reported before the show even began, but no one could have predicted $192.3 billion worth of deals for commercial jets would be revealed on the first day of the show.
"Across the globe, we're seeing tougher and tougher competition," Boeing defense Chief Dennis Muilenburg said to reporters according to Reuters. "The fact that U.S. and European defense budgets are down is creating more competition in other markets."
The deal, which is a new single day record, is worth more than orders from the entire 2007 airshow combined.
The region's three biggest companies, Etihad, Emirates and Qatar Airways, revealed orders for at least 393 new commercial planes.
Eithad confirmed a $25.2 billion deal for 56 new Boeing aircrafts on Nov. 17, including 25 777x plaines, 17 777 9-X planes, and eight 777-8X planes, according to Reuters.
Hogan announced 87 Airbus jets worth $26.9 billion, including 50 A350 planes.
"You're certainly seeing a growing sense of frustration on the part of some of our regional allies," said Michael Eisenstadt, a former U.S. defense official and now head of the military and security program at the Washington Institute For Near East Policy, according to Reuters. "I think that will carry across in some ways when it comes to defense sales."
Dubai's Emirates revealed the largest order of the day however, reporting a $76 billion deal for 150 Boeing 777X planes, plus 50 Airbus A380s, worth $23 billion, to bring its order of the superjumbo to approximately 101.
"At the moment, they probably can't be rid of us even if they want to," said Ari Ratner, a former Obama administration State Department appointee who works at the Truman National Security Foundation, according to Reuters. "But if you start looking forward say 20 years, the trends are impossible to ignore and things could look very different."
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