Both giants like Boeing and startups are racing to make flying faster than the Concorde viable.

FARNBOROUGH, England—Fifteen years after the Concorde last flew, supersonic air travel is back in the aerospace industry’s sights.

Investors, plane makers and equipment suppliers are pushing to revive superfast airliners and business jets. The big questions: Will regulators go along, and will passengers be willing to pay? The Concorde cut the time to fly from New York to London or Paris to about 3½ hours, about half today’s typical journey. But it was an economic failure.

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