Boeing CEO Talks Space and Global Services

Boeing CEO Dennis Muilenburg is encouraged by the U.S. government's interest in investing in space and is eying bolt-on acquisitions for its Global Services business.
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Boeing Co. (BA) - Get Report CEO Dennis Muilenburg is bullish on two vastly different areas of business: Global Services and Space. 

Muilenburg told TheStreet that he expects the company's Global Services unit to be a $50 billion-a-year business and is targeting bolt-on acquisitions to help it grow. Global Services recently celebrated its first anniversary since its launch and saw revenues of $4.09 billion for the second quarter, which is up 15% year over year. Management raised the unit's full-year revenue guidance to a range of $15.5 billion to $16 billion, an increase from its prior forecast of $15 billion to $15.5 billion. 

Meanwhile, Boeing is "very encouraged" by the Trump administration interest in investing in space ventures. 

"It's good for business and it creates growth opportunities for us," Muilenburg said. "It's also a great way to develop STEM talent for the future."