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Boeing: Aerospace & Defense Market to Reach $8.7T Over Next Decade; Greg Smith Quoted

Jeff Brody
Greg Smith

Boeing (NYSE: BA) forecasts the aerospace and defense market to reach $8.7T and defense and space opportunities to hit $3.1T in the next 10 years as government agencies adopt new technologies, update military systems and expand maritime and space exploration.

The company’s market outlook unveiled at the Paris Air Show Monday projects that international markets will account for 40 percent of spending spanning autonomous systems, military aircraft, satellites, space platforms and other products, Boeing said Monday.

"Aerospace and defense continues to be a healthy and growing industry over the long term, boosted by strong fundamentals across the commercial, defense and services sectors and demand that is geographically-diverse and more balanced between replacement and growth than ever before," said Greg Smith, chief financial officer and executive vice president of enterprise performance and strategy at Boeing.

The company forecasts the services market to reach $3.1T by 2028, driven by lifecycle platforms supporting space, defense and commercial systems.

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