SEATTLE – Boeing Co Chief Executive Officer Jim McNerney said the company wanted to be more like Apple Inc in the way it innovates, rather than doing a "moon shot" development every 25 years.
Speaking in Seattle at an annual conference with analysts, McNerney also said the company's job was improve its execution and focus on productivity to reduce costs and improve margins.
He said the company intended to increase market share in the twin-aisle jetliner market, a competitive dig at rival Airbus .
Boeing's defense, space and security business is focused on achieving $2 billion in additional cost savings and on capturing a "disproportionate share" of growing international markets, McNerney said.
The company is able to apply innovation from its high-tech, carbon-fiber composite 787 Dreamliner to other planes and products because of the investment made on that plane, McNerney said.
Deferred costs of the 787 stand at about $23 billion currently and are expected to peak at $25 billion in 2017 before subsiding as the cost of production falls below the sales price for the jet.
(Reporting by Alwyn Scott; Editing by Lisa Von Ahn)