Boeing is laying out huge growth estimates for the new Space & Communications Services business it established in May.

The operating unit that comprises the former services company, space coast operations, and the space portion of aerospace operations currently does about $500 million in sales. That should reach $3-$4 billion in about five years, says Rick Stephens, Boeing VP and general manager of the new business.

Initially, the company is doing 45% of its work in civil space, 35% in government support, and 20% with commercial companies. Stephens said that's likely to shift, with support for commercial companies becoming increasingly important to revenue flow.

The services business is starting out with 4,300 employees, a number that,s likely to grow too. But Boeing wants to partner with other companies as its grows the business base, which should allow it to keep its employment levels relatively lean. The company is putting emphasis on maintaining a low overhead in order to be competitive in the commercial marketplace.

In addition to supporting its own products, Stephens said the business will go after new markets. The strategy will be to offer services in markets that aren't being serviced, rather than taking on other established competitors. One type of service that is being considered is helping companies with distributed operating locations better manage their assets. Specific business opportunities to be pursued should crystallize in the next few months.

By Robert Wall