Boeing’s $50 bln services revenue target would need acquisitions, says CEO Stan Deal

By: |
Singapore | Published: February 6, 2018 10:25:12 AM

Boeing Global Services' target of more than tripling annual revenue to $50 billion in as little as five years will require acquisitions, the CEO of Boeing's services unit said on Tuesday.

boeing, boeing global services, stan deal, boeing revenue target, boeing services revenue, boost revenue, singapore airshowBoeing Global Services’ target of more than tripling annual revenue to $50 billion in as little as five years will require acquisitions, the CEO of Boeing’s services unit said on Tuesday. (Image: Reuters)

Boeing Global Services’ target of more than tripling annual revenue to $50 billion in as little as five years will require acquisitions, the CEO of Boeing’s services unit said on Tuesday. The jet manufacturer has been looking to boost revenue in its services business which involves jet maintenance, repair and overhaul (MRO), data analytics and pilot training. Revenue grew by 5.5 percent to $14.6 billion in 2017 and the growth rate is forecast to be even higher this year, Boeing Global Services CEO Stan Deal told Reuters at the Singapore Airshow. “Over the next 5 to 10 years we are going to accomplish that as a stretch objective,” he said of the $50 billion target, adding it will “clearly involve” acquisitions.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Air India to connect Mumbai with San Francisco; to up frequencies to Australia
2India remains fastest growing domestic aviation market in 2017, says IATA
3Boeing may express interest in Canada fighter jet bid, says executive