[Music] as per the media sources exciting news is buzzing in the aviation industry as Boeing is rumored to be developing a new aircraft that could redefine air travel as speculated among employees and Airlines the company's announcements suggest that the new aircraft will be constructed in Washington it is widely anticipated that this aircraft will be named the Boeing 797 the Boeing 797 is expected to replace the 757 which was in production until 2004 the 757 was a highly regarded aircraft though it was smaller than the Boeing 737 Max the new 797 will fill the Gap in the midsize aircraft Market cater to segments with capacities of fewer than 250 [Music] passengers the project was initiated by Boeing in 2015 after determining that the market was ripe for a new design by 2017 several Airlines had shown interest in a composite 7even AB breast twin Isle aircraft with an elliptical cross-section the Boeing 797 is anticipated to come in two variants a 225 seat version with a range of 5,000 nautical miles 9,300 km and a 275 seat version with a range of 4,500 nautical miles 8,300 km Market forecasts for for this aircraft type range from 2,000 to 4,000 units with Boeing anticipating demand at the higher end of this spectrum the projected price is between $65 million and $75 million on the other hand Airbus is capitalizing on the market Gap in this segment with its extended range version the Airbus a321xlr which is scheduled for release by the end of the year [Music] the a321 XLR not only features Advanced Composite Materials but also incorporates the latest Technologies found in newer airliners these Innovations are expected to reduce operating costs and enhance efficiency for airline operators meanwhile B boing is focusing on increasing orders for the Boeing 737 Max and Boeing 7x as it navigates current challenges the company plans to advance the development of the new Boeing 797 with the project expected to be underway by 2030 and potentially costing around $25 [Music] billion thanks for watching please share your thoughts about new new Boeing 797 aircraft in the comment section