Page 38 - AAA SEPTEMBER - OCTOBER 2018 Online Magazine
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BREATHTAKING START
Less than 18 months since it was Singapore Airshow. At the Farnborough Airshow, it went one
formed, Boeing Global Services has better, with US$2.1 billion worth of new agreements.
already made major inroads into
the services market Comfortably Ahead
According to Boeing’s 2018 20-year Commercial Market Outlook
Arun Sivasankaran unveiled at Farnborough, the global services market will grow at
an annual rate of 4.2 percent over the forecast period. Boeing
hen Boeing CEO Dennis expects to grow at a rate of about nine percent year-over-year.
Muilenberg set Boeing Global “We outpaced the market comfortably last year,” Deal tells Asian
Services (BGS) a US$50 bil- Airlines & Aerospace in an interview.
Wlion annual revenue target in
five to ten years, there were many who “Our current growth rate is about 11 percent. It
thought that getting close to the goal, let has been a very good first half of the year and we
alone reaching it, would take some doing. want to make the second half great as well. We
Less than 18 months since BGS was had US$16.5 billion in orders last year; I’d like to
launched last July, the group has made soundly beat that this year. We are on a very good
such inroads into the services market that trajectory.” Stan Deal
Stan Deal, President and CEO of the group,
says what started out as an aspirational Boeing currently has 7 percent aftermarket share on the com-
goal has now become an attainable one. mercial service side and about 9 percent on military aircraft.
It is the numbers that BGS that racked up “We are second or third in each market but the largest ser-
that makes Deal confident. After ending vices provider overall; most companies concentrate on only
2017 with US$16.5 billion in orders, the one market,” says Deal.
group carried the momentum into 2018,
announcing more than US$900 million “As we get to the US$50 billion goal, we want to be
in new orders and agreements at the in the double digits range.” Stan Deal
38 | September/October 2018 www.GBP.com.sg/AAA
