Jane Edwards
Boeing forecasts a $2.6 trillion market for its defense and space platforms and services over the next decade as security and geopolitical challenges drive demand for new defense systems.
The company said Tuesday the spending projection in the 2021 Boeing Market Outlook for the defense and space market reflects the significance of military aircraft, satellites, spacecraft, autonomous platforms and other systems in support of national and international defense.
Boeing expects overseas spending on defense and space services and platforms to account for 40 percent of expenditures.
“While we’ve seen resiliency and stability in the global defense and space market, the threat environment continues to evolve,” said Leanne Caret, president and CEO of Boeing’s defense, space and security business and a 2021 Wash100 Award winner.
“Winning the future fight will require speed and flexibility, and Boeing is committed to designing, testing, building and sustaining in a way that will enable our customers to adapt at the speed of relevance and derive the most value from our platforms for decades to come,” Caret added.
The Chicago-based aerospace and defense contractor projects the services market to reach $3.2 trillion through 2030 with government services accounting for $1.5 trillion.
