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Home » Travel » NEOM Investment Fund Invests In Boom Supersonic to Advance Supersonic Flight in The Gulf
NEOM Investment Fund Invests In Boom Supersonic to Advance Supersonic Flight in The Gulf
NEOM Investment Fund Invests In Boom Supersonic to Advance Supersonic Flight in The Gulf

Saudi Arabia’s NEOM Investment Fund has invested significantly in Boom Supersonic, the U.S. aviation company dedicated to reintroducing supersonic aircraft for passenger travel. This investment marks a collaborative effort toward advancing supersonic flight in the Gulf region.

Aviation is on the brink of a significant transformation as this collaboration aims to boost accessibility in the Gulf region through supersonic flight, leveraging Boom’s XB-1 proof-of-concept aircraft. This move mirrors Saudi Arabia’s commitment to becoming a global transport and technology innovation pioneer.

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The Company’s Genesis

Image Credit Boom Supersonic

Boom Supersonic, headquartered in Denver, focuses on creating the world’s fastest airliner. Their recent progress in the Overture airliner, Symphony engine, and XB-1 supersonic demonstrator programs are noteworthy and have positioned them as a critical player in the aviation industry.

Founded in 2014, Boom’s mission is to connect the world faster, making long-distance travel more time-efficient. The financial backing of over $700 million, including the significant contribution from NIF, has accelerated Boom’s journey towards revolutionizing air travel.

Key Developments and Milestones

Image Credit Boom Supersonic

Boom has made significant strides toward the XB-1’s first flight, with several integrated tests successfully completed under the Federal Aviation Administration (FAA)’s scrutiny.

The Symphony, a propulsion system purposely built for sustainable supersonic flight, has achieved its Conceptual Design Review (CoDR). Progress on the Overture Superfactory in North Carolina is ahead of schedule, with structural completion expected by the second quarter of 2024.

The Boom Overture

Image Credit Boom Supersonic

The Boom Overture, a proposed Mach 1.7 airliner capable of accommodating 64–80 passengers and boasting a range of 4,250 nmi, is anticipated to transform the aviation industry. 

Its design, composite material construction, and eco-friendly turbofans are reminiscent of the legendary Concorde, yet with modern enhancements.

The Vision

Image Credit Boom Supersonic

Boom’s vision encompasses 500 viable routes. For instance, the journey time between New York/Newark and London could be reduced to 3.5 hours. 

This remarkable speed and capacity are expected to create a market for 1,000 supersonic airliners by 2035. Boom’s competitive pricing strategy sets $5,000 for a New York-to-London round-trip, far less than the Concorde’s adjusted $20,000 fare.

Airline Partnerships

Image Credit Boom Supersonic

Boom’s ambitions are bolstered by major airlines. United Airlines has agreed to purchase 15 Overture aircraft, with an option for 35 more. Similarly, American Airlines announced an agreement to purchase 20 aircraft, with an additional 40 options, signifying the industry’s confidence in Boom’s vision.

NEOM’s Strategic Vision

Image Credit NEOM

The investment by NIF signifies Saudi Arabia’s commitment to pioneering global transport and technological innovation. These bold steps align with Saudi Arabia’s vision of transforming NEOM into a hub of innovation and economic growth.

More NEOM Investments

NEOM, the ambitious futuristic city project in Saudi Arabia, has not limited its investments to the development of air travel alone, but NEOM has made substantial financial contributions to advance cutting-edge industries. 

Image Credit Ponyai

Notably, the city has recently allocated a significant sum of $100 million to PONY.AI, a leading player in autonomous vehicles. This substantial investment in PONY.AI underscores NEOM’s dedication to fostering advancements in transportation by developing and implementing autonomous technologies.

Image Credit NEOM

Moreover, NEOM has forged a significant partnership with the U.S.-based Seaglider builder, Regent. This collaboration promotes sustainable transport solutions, aligning with NEOM’s commitment to environmental consciousness and eco-friendly practices.

Symbolizing a Future 

The NIF and Boom Supersonic partnership symbolizes a future where supersonic travel is a reality. The advancements by Boom Supersonic in developing the Overture airliner promise to significantly reduce travel times, making the world more connected and accessible. 

This strategic collaboration is indeed a game-changer in the aviation industry.

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