Boeing sees growth in cyber despite defense cuts

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October 27, 2011

Boeing Co opened a new cyber security center on Tuesday, saying it expected high single-digit or low double-digit growth in the sector in coming years despite major cuts in defense spending.

Dennis Muilenburg, chief executive of Boeing’s Defense Space and Security, said creation of the new facility was part of Boeing’s strategy to offset cuts in defense spending that could total as much as $1 trillion over the next decade.

Boeing’s defense business has continued to invest in core areas such as aviation and satellites, and has already expanded international sales from 7 percent of revenues to around 18 percent, with that proportion due to increase to around 25 to 30 percent, Muilenburg told reporters at the center’s opening.

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