Aircraft manufacturing company Boeing Co (BA) - Get Boeing Company Report said on Monday that it has established an avionics group to make flight controls and other electronics for commercial and military aircraft, with the goal of introducing products by 2020.
Boeing stated that the team has already begun developing systems that it expects will be less expensive, higher quality alternatives to existing products made by suppliers.
The company projects the imitative to drive more services revenue to Boeing after a plane has been sold.
Shares of Boeing were higher during midday trading on Monday.
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