NASA & the EU equivalent plus the manufacturers have a bunch of innovative experiments going on. The aircraft would look quite different than what we have today. Here’s a few pix: http://www.nasa.gov/content/down-to-earth-future-aircraft-0. Try Future Aircraft | NASA and click the [more stories] bar at the bottom.
The big drivers in these nextgen +2 through +4 efforts are low cost and “greenery” = low noise & low exhaust emissions. So you may see very long thin wings, Looped wings with no tips, prop-fan type engines, blended wing/body designs, etc.
As said by many above, there are a lot of business and engineering advantages to incremental change. So any radical change must obtain a truly compelling gain. The 787 was exactly such a radical change in technology and in business arrangements, despite the humdrum gross shape. That ordinary gross shape is about the only thing the 787 has in common with earlier designs. And the early failures associated with those radical changes cost Boeing, many suppliers, and lots of investors a truly huge amount of money. The 787 will eventually earn back the early losses. But it’ll take a decade or more longer than planned, and investor-centric Capitalism isn’t a very patient system.
Similarly, it’s not clear the A380 will *ever *turn a profit. It was another step-change aircraft, although not quite as ambitious as the 787 from an engineering perspective. The cost of the A380’s leaps & associated errors will almost certainly erase any profits they ever hoped to make on the product’s entire lifetime.
One of the other challenges with anything that is shaped much differently than today’s typical aircraft is compatibility with existing facilities. The A380 has some very severe compromises in its design to make it fit (almost) within existing airports and terminals. If the A380 had been designed with the same exact mission parameters but no concern for fitting into existing airports, it’d be a bunch different.
The result is that introducing a new gross aircraft shape means *every * target airport needs to plan construction projects for new gates, boarding bridges, loading equipment, fueling equipment, etc. And each airline needs to pay for that. So the airplane better be able to save a lot of money in daily operation to bear all those extra costs. 'Cuz nobody is gonna pay extra to fly in a shiny new FutureJet.
Plus who has ever seen an airport reconstruction project go smoothly on time and under budget? Imagine taking delivery of a new jet and having your major airports, (all of them government run) say “Well, Congress (or the city council) nixed our reconstruction budget; it’ll be at least 5 years late.” Meanwhile you’re still making monthly lease/mortgage payments. Ouch.
One of the reasons Boeing & Airbus have in the last 5 years punted on building clean start replacement designs for the 737 & A320 series is precisely that the tech for radical gain isn’t quite ready for mass production. So the smart engineering / business decision is to embrace incremental improvements while spending the time & money needed to mature the radical step-change tech. Once it’s ready, then you build a new design embracing as much of that as you can / dare to.
Bottom line: The current state of play isn’t the result of a lack of imagination. Some of us will live to see some kinda weird-looking new aircraft coming from these efforts.