The commercial aircraft industry, dominated by Boeing, has traditionally counted on annual growth rates of 4 percent to 6 percent in air travel. Since the Sept. 11 attacks, aviation officials anticipate a 20 percent drop in air travel.
As much as $35 billion of Boeing’s annual $57 billion in revenue comes from its commercial aircraft business, with the balance coming from its rocket, satellite, missile and military aircraft businesses.
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Over the next three to five years, Boeing Vice Chairman Harry Stonecipher said, the percent of revenue from commercial aircraft will shrink to less than 50 percent.
“You are going to see a switch — where commercial aircraft will still be very large, but the others will see growth,” Stonecipher said.
Boeing, which moved its headquarters this summer from Seattle to Chicago, is aggressively trying to prove to investors that it is more than a commercial aircraft company.
As commercial aircraft business stays soft, the company is likely to focus more on its plants in Southern California, the base of its space and communications units, which employ 43,000 workers. The company also builds its 717 airliners and C-17 military transport planes in Southern California.
