By Jason Theodorou

The biggest air show in the world will open for business at Farnborough airport on Monday. The show is traditionally the place for major aerospace companies to make key announcements.

Boeing has stolen a march on other aerospace companies already by unveiling the 787 Dreamliner aircraft on Sunday. The liner is eagerly anticipated after spending two and a half years in development. Airbus will be showcasing its rival to the Dreamliner, named the A350 XWB. Boeing's plane will be available this year, while Airbus will not be operating the A350 XWB until 2013 at the earliest.

Boeing expects to secure a £3.3 billion deal with Dubai airline Emirates to deliver 20 Boeing 777 aircrafts. Jim Albaugh, chief executive of the company's commercial division, said: 'The market is coming back, we're seeing airlines being profitable, some of them for the first time in a few years... People who haven't been in the market for a while are coming back'.

Airbus will be showcasing its A400M military transport plane, which has come onto the market millions of pounds over budget. The F-35 Joint Strike Fighter, a US project from arms manufacturer Lockheed Martin, has also come in over budget and will be a focal point of the show.

Boeing have staked the future of the company on fuel efficient planes, while Airbus are in the main building larger planes, expecting that rising numbers of air passengers will lead to a demand for bigger planes flying to major destinations such as London and New York. The majority of growth is expected to come from economies such as Asia, Latin America and the Middle East.

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