Boeing wants $50 billion in sales by 2025, $200 billion in ten years

N6HOVPHGCZAO3F4P3SPDNHZBTY
Boeing’s booth at the 2018 Doha International Maritime Defence Exhibition and Conference in Qatar. (Chirine Mouchantaf/Staff)

“The company plans to grow by $200 billion in the next 10 years, with an increase of 50 percent in terms of total revenue.”

17 March 2018 |  | Defense News

DOHA, Qatar — Boeing is looking to triple its income over the next five years with an aim to reach $50 billion in annual business by 2025. This effort could see the company form new partnerships or acquire businesses to support European and Russian defense platforms.

 

In a media briefing held at the Doha International Maritime Defence Exhibition and Conference in Qatar, senior Boeing officials described the company’s new partnership strategy as a means to accessing markets, creating unique capabilities and discovering new, innovative ideas.

 

“We have an aggressive growth target coming from our leadership. Today we are about a $16 billion annual business, and our leadership is looking to drive us in the coming five years to be a $50 billion annual business,” said Howard Berry, the director of global sales and marketing for international government services at Boeing Global Services.

 

“That’s an aggressive growth target, so we have a lot of work ahead of us,” he added.

The company plans to grow by $200 billion in the next 10 years, with an increase of 50 percent in terms of total revenue.

 

A key focus of Boeing Global Services’ new strategy is involves supporting aging platforms via upgrades, modifications and maintenance, especially considering “only 20 percent of military platforms will be retired in the next 10 years,” according to Berry.

Lockheed awarded $3.5B contract from Army for training The agreement enables Lockheed Martin to provide the Army with “training aids, devices, simulators and simulations, maintenance, sustainment, operations and support of instrumentation systems and live-fire ranges,” the Pentagon said.

 

“What we are seeing today is a wide range of well-made platforms with a long length, from an airframe life perspective, which led to an increasing need to update platforms with new avionics systems, weapons and subsystems,” he said. “There are tremendous opportunities to supporting these aging platforms, not only to keep it essentially flying worthy but also tacitly relevant.”

 

Boeing Global Services serves both the military and commercial markets, with a focus on services in engineering, digital aviation, analytics, supply chain logistics and training support.

 

Berry stressed that the company’s focus on finding new and innovative ways to grow the business will involve new geographic regions and more international industry partnerships. “In order to achieve that, you are going to see us spending more time looking at non-Boeing platforms, [supporting] European platforms … in the military arena, in addition to perusing Russian heritage hardware, for example.”

 

“There may be many cases where it makes much more sense for other organizations to lead and for Boeing to partner and bring expertise needed for the solutions,” he added.

 

Boeing also sees unmanned technology as an area for growth. This is reflected in its acquisition of autonomous system specialists Aurora Flight Sciences and Liquid Robotics.

“With Insitu, Liquid Robotics and Aurora Flight Sciences, we have tremendous capabilities both in the airborne surface and subsurface arenas that allow us to connect and collaborate in environments that we hadn’t been involved in previously,” said Gene Cunningham, vice president if global sales and marketing at Boeing Defense, Space and Security.

 

He noted that Boeing is already seeing a “significant interest in the unmanned technology” in the Gulf region.

 

Original Link 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s