Aerospace manufacturer Boeing plans to spend $1bn over the next five years to expand 787 Dreamliner production capacity in South Carolina, doubling down on its build rate target for the higher titanium-bearing model.
The investment will go toward infrastructure upgrades at its two campuses in North Charleston, where Boeing solely produces the 787, the Virginia-based airframer said. The company anticipates adding 500 jobs to its existing workforce of 7,800 there.
Boeing said the growth plans announced today will go toward its goal of producing 10 787s per month by 2026, while also supporting "potential future rate increases" if needed. The company foresees wide-body demand more than doubling over the next 20 years, with the number of total twin-aisle planes increasing to 8,750 in 2043 from 4,275 currently.
Supply shortages of heat exchangers and seats have forced Boeing to curtail 787 output this year to 4/month — below the 5/month clip it had reached to end 2023. Still, the company expects to work through those bottlenecks before year end.
Increased 787 production would likely benefit the titanium scrap industry, boosting demand for and generation of the raw material. The wide-body model contains about 15pc titanium compared with Boeing's flagship narrow-body program, the 737 MAX, which is approximately 6pc titanium by content.
