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Boeing Predicts Aerospace Services Demand Growth Over Next 10 Years

Boeing Predicts Aerospace Services Demand Growth Over Next 10 Years - top government contractors - best government contracting event

Boeing Predicts Aerospace Services Demand Growth Over Next 10 Years - top government contractors - best government contracting eventBoeing forecasts that the demand for government and commercial aerospace services will reach $2.6 trillion over the next decade.

The company's services market outlook unveiled Tuesday at the Paris Air Show shows potential growth in several aviation service areas such as information services and analytics; maintenance, engineering and upgrades; and professional services and training, Boeing said Tuesday.

Boeing also forecasts the commercial aerospace services market to hit approximately $8.5 trillion from 2017 to 2036.

“It is clear that our customers, in both commercial and government sectors, are searching for more efficient ways to keep their fleets operating and ready for use in an age of rapid technological advancement,” said Stan Deal, president and CEO of Boeing's global services business.

“Government aviation services are expected to significantly outpace overall fleet growth, driven in large part by sustainment and modernization requirements around the globe,” he added.

The market report also predicts growth in international government aerospace services markets as customers in Asia-Pacific and the Middle East ramp up procurement of rotorcraft and commercial derivative planes.

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Written by Jane Edwards

is a staff writer at Executive Mosaic, where she writes for ExecutiveBiz about IT modernization, cybersecurity, space procurement and industry leaders’ perspectives on government technology trends.

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