Memo to Boeing (BA) shareholders who have watched the shares fly 90% over the past year: the company is working on some cool things beyond airplanes.
"Autonomous is a big part of the equation going forward. The amount of innovation going into aerospace today is greater than it has ever been," Boeing CEO Dennis Muilenburg told TheStreet. "We have an unmanned airplane in space called the X37 that has set new duration records, we are working on an unmanned underwater vehicle, and we are working on urban environment solutions, such as things like personal flying taxis."
Asked when personal flying taxis would start flying around, Muilenburg suggested it's sooner than some might think.
"It's measured in years, within the decade I would think."
Muilenburg added that Boeing is also investing in hypersonic flight, or planes that could hit Mach 5 (more than 3,800 mph) or Mach 6. Boeing recently invested in Reaction Engine, a company that is working on the engines to possibly make hypersonic flying a reality.
Business travelers get ready, the Concorde (went out of service in 2003) is destined to be a relic.