Boeing (NYSE: BA) tomorrow will launch its third major business unit when Boeing Global Services begins operating alongside Commercial Airplanes and Defense, Space & Security. This new dedicated services business focuses on the needs of government, space and commercial customers worldwide.
Boeing Chairman, President and CEO Dennis Muilenburg announced the formation of Global Services in November 2016 to expand Boeing's share of a global—and growing—commercial and government services market worth an estimated $2.6 trillion over the next decade.
"Aerospace services represents one of our biggest growth opportunities for the future," said Muilenburg. "Standing up Global Services will accelerate our capabilities across all Boeing services and support areas—from our traditional parts, modifications and upgrades business to strengthening our data analytics and information-based offerings. Our services expertise, the global reach of our business, and our strong customer partnerships have us well positioned to compete and win in this important sector."
Boeing has been working since November to fully define and structure the integrated new business, which combines key capabilities of the company's former Commercial Aviation Services and Global Services & Support groups. Led by President and CEO Stan Deal, Global Services will bring innovative service solutions to customers in four key capability areas: Supply Chain, Engineering, Modifications & Maintenance, Digital Aviation & Analytics, and Training & Professional Services.
"We've been talking with our customers over the past few months as we've prepared for this transition, and tomorrow they can begin to see the value of this dedicated services unit that allows us to deliver agile, cost-competitive solutions so they can reduce costs, drive efficiency and ultimately optimize their operations," said Deal.
Global Services, headquartered in the Dallas area, was formed by integrating the services capabilities of the government, space and commercial sectors into a single, customer-focused business. Operating as a third business unit of Boeing, Global Services provides agile, cost-competitive services to commercial and government customers worldwide.