Boeing [BA] projects that the global market for defense and space opportunities over the next decade will be worth $2.5 trillion, part of an $8.7 trillion forecast for the overall aerospace and defense market through 2028.

Defense and space spending are projected to be relatively stable, growing at a 1.2 percent compound annual growth rate, Boeing said on Monday.

“Aerospace and defense continues to be a healthy and growing industry over the long-term, boosted by strong fundamentals across the commercial, defense and services sectors and demand that is geographically-diverse and more balanced between replacement and growth than ever before,” Greg Smith, Boeing’s chief financial officer and executive vice president of Enterprise Performance & Strategy, said in a statement.

The Boeing Market Outlook forecasts $3.1 trillion in sales for commercial aircraft over the decade and $3.1 trillion for services, including defense, space and commercial platforms. Fueling demand for commercial aircraft is the need for replacement jets that are more capable and fuel-efficient and the need for additional capacity as air travel increases.

The overall forecast of $8.7 trillion for the aerospace and defense market is $600 billion higher than projected in 2018.

Of the 10-year defense forecast, 40 percent is projected to be from international allies based on “geopolitical and security challenges,” Boeing said.

Driving the increased defense and space spending is the need for governments to “modernize military platforms and systems, pursue new technologies and capabilities and accelerate exploration from sea to space,” Boeing said, as governments spend on military aircraft, autonomous systems, satellites, spacecraft and other products.”

A pie chart on Boeing’s website suggests about 60 percent of global defense and space spending will be related to aircraft and the rest on space and other defense items.