The U.S. aircraft manufacturer Boeing has unveiled its latest airliner model with great fanfare, and great focus on technological advances in its construction.

At a ceremony at a company hangar in the state of Washington Sunday afternoon, some 15,000 guests saw Boeing's 787 Dreamliner for the first time.

Boeing says the new airliner will use 20 percent less fuel than other similarly sized planes because of the carbon composite material used in its airframe. An airplane made of composites weighs less than a metal plane, and requires less fuel to do the same job.

The 787 has not yet left the ground. It is expected to make its first flight later this year - and to go into airline service next year.

Boeing, which is in competition with the European manufacturer Airbus, already has 677 orders for the Dreamliner. The company says the Dreamliner is the company's most successful new model to date.

The 787 is designed to make long-haul flights with a seating capacity between 210 and 330.

Some information for this report was provided by AFP, AP and Reuters.