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Boeing’s Defense and Space Division Gets Q2 Boost from Military Aircraft Sales

By | July 28, 2021
Boeing's headquarters. Photo: Boeing

Boeing’s headquarters. Photo: Boeing

Boeing‘s Defense, Space & Security division reported $6.9 billion in revenue in its second quarter 2021 (Q2) financial results, a 4% bump from the same time period in 2020. Most of these gains, however, were for military aircraft — specifically the  KC-46A Tanker and P-8A Poseidon. 

This revenue boost for the division came after a 19% revenue boost in Q1. For the first half (H1) 2021, Defense, Space & Security reported $14 billion in revenues, an 11% increase from the same time period in 2020. 

Backlog at Defense, Space & Security stands at $59 billion, and 32% represents orders from customers outside the U.S.

The company highlighted that the first Core Stage for NASA‘s Space Launch System (SLS) began stacking with other Artemis I elements.

“We continued to make important progress in the second quarter as we focus on driving stability across our operations and transforming our business for the future,” said Boeing President and CEO David Calhoun. “While our commercial market environment is improving, we’re closely monitoring COVID-19 case rates, vaccine distribution and global trade as key indicators for our industry’s stability.”

Overall, Boeing reported about $17 billion in Q2 revenues, up 44% from Q2 last year, driven by higher commercial airplane and services volume. The company made 79 commercial airplane delivers in the quarter, compared to 20 in the same time last year. 

Separately, Boeing is about to test its CST-100 Starliner spacecraft on the second orbital flight test to the International Space Station (ISS) on a United Launch Alliance (ULA) Atlas V rocket on Friday. This test is part of NASA’s Commercial Crew Program, and it will test the Starliner’s ability to dock with the ISS and re-enter the atmosphere for a desert landing. 

The first such test in December 2019 did not dock with the ISS. NASA and Boeing conducted major reviews of the test that ended last year with 80 recommendations