SINGAPORE, Feb 6 (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. (Reporting by Jamie Freed Editing by Muralikumar Anantharaman)