From The Paris Air Show: United Technologies CEO Louis Chênevert

CEO of United Technologies UTX Louis Chênevert appeared on CNBC's Squawk Box from the Paris Air Show where he talked about their Goodrich acquisition, Embraer ERJ securing an order for 300 new regional jets that feature subsidiary Pratt & Whitney's geared turbofan engines, and their components on other various airplane models. "Our Goodrich acquisition has been fantastic. We've announced integration a year ago. It's going to already be a year of integration. The people all mesh well together. The savings for the costumer are coming through. It's been a transformational acquisition for United Technology," According to him, "there's necessity for more consolidation in the industry." He said that you need to have scale to properly invest in technology readiness and new technology for costumers moving into the future. In regards to Embraer's announcement at the Paris Air Show to purchase 300 new regional jets that are powered by Pratt & Whitney's geared turbofan engines he said that he's "very excited." He said the buzz at the show is fantastic, and that the new turbofan engine from Pratt & Whitney is "truly game-changing" in terms of "fuel efficiency and noise reduction." He said that the generation of engines that they just announced are 16 percent more fuel efficient and 30 plus percent more fuel efficient than the airplanes of 15 years ago. He also said that the latest generation creates half the noise of the engine before it. He said that the global demand for airplanes is fantastic. He attributed high-demand to urbanization and the replacement of old fleets. He noted that there are a number of United Technology's components on the Airbus A350 and the Boeing 787, and they're proud to see both companies doing well. He thinks that demand for long-distance travel will only increase, and that the momentum of the demand growth in airplanes will continue for the next decade at least, maybe two.