|Pacific Aero Products Co. (1916–1917)|
|Founded||July 15, 1916 (as Pacific Aero Products Co.) |
Seattle, Washington, U.S.
|Headquarters|| Boeing International Headquarters, |
| Dennis Muilenburg |
(Chairman, President & CEO)
Number of employees
|153,027 (January 1, 2018)|
The Boeing Company ( // ) is an American multinational corporation that designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, telecommunications equipment, and missiles worldwide. The company also provides leasing and product support services. Boeing is among the largest global aerospace manufacturers; it is the fifth-largest defense contractor in the world based on 2017 revenue, and is the largest exporter in the United States by dollar value. Boeing stock is included in the Dow Jones Industrial Average.
A multinational corporation (MNC) or worldwide enterprise is a corporate organization that owns or controls production of goods or services in at least one country other than its home country. Black's Law Dictionary suggests that a company or group should be considered a multinational corporation if it derives 25% or more of its revenue from out-of-home-country operations. A multinational corporation can also be referred to as a multinational enterprise (MNE), a transnational enterprise (TNE), a transnational corporation (TNC), an international corporation, or a stateless corporation. There are subtle but real differences between these three labels, as well as multinational corporation and worldwide enterprise.
An airplane or aeroplane is a powered, fixed-wing aircraft that is propelled forward by thrust from a jet engine, propeller or rocket engine. Airplanes come in a variety of sizes, shapes, and wing configurations. The broad spectrum of uses for airplanes includes recreation, transportation of goods and people, military, and research. Worldwide, commercial aviation transports more than four billion passengers annually on airliners and transports more than 200 billion tonne-kilometres of cargo annually, which is less than 1% of the world's cargo movement. Most airplanes are flown by a pilot on board the aircraft, but some are designed to be remotely or computer-controlled.
A rotorcraft or rotary-wing aircraft is a heavier-than-air flying machine that uses lift generated by wings, called rotary wings or rotor blades, that revolve around a mast. Several rotor blades mounted on a single mast are referred to as a rotor. The International Civil Aviation Organization (ICAO) defines a rotorcraft as "supported in flight by the reactions of the air on one or more rotors". Rotorcraft generally include those aircraft where one or more rotors are required to provide lift throughout the entire flight, such as helicopters, autogyros, and gyrodynes. Compound rotorcraft may also include additional thrust engines or propellers and static lifting surfaces.
Boeing was founded by William Boeing on July 15, 1916, in Seattle, Washington.The present corporation is the result of the merger of Boeing with McDonnell Douglas on August 1, 1997. Former Boeing chair and CEO Philip M. Condit continued as the chair and CEO of the new Boeing, while Harry Stonecipher, former CEO of McDonnell Douglas, became the president and chief operating officer of the newly merged company.
William Edward Boeing was an American aviation pioneer who founded The Boeing Company in 1916.
Seattle is a seaport city on the West Coast of the United States. It is the seat of King County, Washington. With an estimated 744,955 residents as of 2018, Seattle is the largest city in both the state of Washington and the Pacific Northwest region of North America. According to U.S. Census data released in 2018, the Seattle metropolitan area's population stands at 3.94 million, and ranks as the 15th largest in the United States. In July 2013, it was the fastest-growing major city in the United States and remained in the top 5 in May 2015 with an annual growth rate of 2.1%. In July 2016, Seattle was again the fastest-growing major U.S. city, with a 3.1% annual growth rate. Seattle is the northernmost large city in the United States.
Washington, officially the State of Washington, is a state in the Pacific Northwest region of the United States. Named for George Washington, the first U.S. president, the state was made out of the western part of the Washington Territory, which was ceded by Britain in 1846 in accordance with the Oregon Treaty in the settlement of the Oregon boundary dispute. It was admitted to the Union as the 42nd state in 1889. Olympia is the state capital; the state's largest city is Seattle. Washington is often referred to as Washington State to distinguish it from the nation's capital, Washington, D.C..
The Boeing Company has its corporate headquarters in Chicago, Illinois. The company is led by President and CEO Dennis Muilenburg. US$93.3 billion in sales, ranked 24th on the Fortune magazine "Fortune 500" list (2018), ranked 64th on the "Fortune Global 500" list (2018), and ranked 19th on the "World's Most Admired Companies" list (2018).Boeing is organized into five primary divisions: Boeing Commercial Airplanes (BCA); Boeing Defense, Space & Security (BDS); Engineering, Operations & Technology; Boeing Capital; and Boeing Shared Services Group. In 2017, Boeing recorded
Chicago, officially the City of Chicago) is the most populous city in Illinois, as well as the third most populous city in the United States. With an estimated population of 2,705,994 (2018), it is the most populous city in the Midwest. Chicago is the principal city of the Chicago metropolitan area, often referred to as Chicagoland, and the county seat of Cook County, the second most populous county in the United States. The metropolitan area, at nearly 10 million people, is the third-largest in the United States.
Illinois is a state in the Midwestern and Great Lakes regions of the United States. It has the fifth largest gross domestic product (GDP), the sixth largest population, and the 25th largest land area of all U.S. states. Illinois has been noted as a microcosm of the entire United States. With Chicago in northeastern Illinois, small industrial cities and immense agricultural productivity in the north and center of the state, and natural resources such as coal, timber, and petroleum in the south, Illinois has a diverse economic base, and is a major transportation hub. Chicagoland, Chicago's metropolitan area, encompasses over 65% of the state's population. The Port of Chicago connects the state to international ports via two main routes: from the Great Lakes, via the Saint Lawrence Seaway, to the Atlantic Ocean and from the Great Lakes to the Mississippi River, via the Illinois Waterway to the Illinois River. The Mississippi River, the Ohio River, and the Wabash River form parts of the boundaries of Illinois. For decades, Chicago's O'Hare International Airport has been ranked as one of the world's busiest airports. Illinois has long had a reputation as a bellwether both in social and cultural terms and, through the 1980s, in politics.
Dennis A. Muilenburg is an American businessman who is the president, chairman and chief executive officer of The Boeing Company since July 1, 2015.
The Boeing Company was started in 1916 when American timber salesperson William E. Boeing founded Aero Products Company. Shortly before doing so, he and Conrad Westervelt created the "B&W" seaplane. In 1917, the organization was renamed Boeing Airplane Company, with William Boeing forming Boeing Airplane & Transport Corporation in 1928. In 1929, the company was renamed United Aircraft and Transport Corporation, followed by the acquisition of several aircraft makers such as Avion, Chance Vought, Sikorsky Aviation, Stearman Aircraft, Pratt & Whitney, and Hamilton Metalplane.
The Boeing Model 1, also known as the B & W Seaplane, was a United States single-engine biplane seaplane aircraft. It was the first Boeing product and carried the initials of its designers, William Boeing and Lt. Conrad Westervelt USN.
In 1931, the group merged its four smaller airlines into United Airlines. In 1934, the manufacture of aircraft was required to be separate from air transportation. Therefore, Boeing Airplane Company became one of three organizations to arise from dissolution of United Aircraft and Transport. The other two groups that emerged were United Aircraft Corporation (now United Technologies Corporation) and United Airlines.
United Airlines, Inc., commonly referred to as United, is a major American airline headquartered at Willis Tower in Chicago, Illinois. United operates a large domestic and international route network, with an extensive presence in the Asia-Pacific region. United is a founding member of the Star Alliance, the world's largest airline alliance with a total of 28 member airlines. Regional service is operated by independent carriers under the brand name United Express. United was established by the amalgamation of several airlines in the late 1920s, the oldest of these being Varney Air Lines, which was founded in 1926.
In 2019, two crashes of the Boeing 737 MAX caused many countries and airlines to ground dozens of 737 MAX aircraft.
Aviation regulators and airlines around the world grounded the Boeing 737 MAX passenger airliner in March 2019 after two nearly new airplanes crashed within five months, killing all 346 aboard. The accidents befell Lion Air Flight 610 on October 29, 2018, and Ethiopian Airlines Flight 302 on March 10, 2019. Ethiopian Airlines was first to ground the aircraft, effective the day of its crash. On March 11, China's Civil Aviation Administration was the first government regulator to order grounding, leading most other aviation agencies and airlines to ground the aircraft in the next two days. The U.S. Federal Aviation Administration, the airplane's certifying agency, publicly affirmed its airworthiness on March 11, but grounded it on March 13, citing evidence of accident similarities. In all, 387 aircraft were grounded.
The two largest divisions are Boeing Commercial Airplanes and Boeing Defense, Space & Security (BDS).
In 2006, the UCLA Center for Environmental Risk Reduction released a study showing that Boeing's Santa Susana Field Laboratory, a site that was a former Rocketdyne test and development site in the Simi Hills of eastern Ventura County in Southern California, had been contaminated by Rocketdyne with toxic and radioactive waste. The study found that air, soil, groundwater, and surface water at the site all contained radionuclides, toxic metals, and dioxins; air and water additionally contained perchlorate, TCE, and hydrazines, while water showed the presence of PCBs as well.Clean up studies and lawsuits are in progress.
The airline industry is responsible for about 11% of greenhouse gases emitted by the U.S. transportation sector.Aviation's share of the greenhouse gas emissions is poised to grow, as air travel increases and ground vehicles use more alternative fuels like ethanol and biodiesel. Boeing estimates that biofuels could reduce flight-related greenhouse-gas emissions by 60 to 80%. The solution blends algae fuels with existing jet fuel.
Boeing executives said the company is informally collaborating with Brazilian biofuels maker Tecbio, Aquaflow Bionomic of New Zealand and other fuel developers around the world. So far, Boeing has tested six fuels from these companies, and will probably have gone through twenty fuels "by the time we're done evaluating them".Boeing was also joining other aviation-related members in the Algal Biomass Organization (ABO) on June 2008.
Air New Zealand and Boeing are researching the jatropha plant to see if it is a sustainable alternative to conventional fuel.A two-hour test flight using a 50–50 mixture of the new biofuel with Jet A-1 in a Rolls Royce RB-211 engine of a 747-400 was completed on December 30, 2008. The engine was then removed to be studied to identify any differences between the Jatropha blend and regular Jet A1. No effects on performances were found.
On August 31, 2010, Boeing worked with the U.S. Air Force to test the Boeing C-17 running on 50% JP-8, 25% Hydro-treated Renewable Jet fuel and 25% of a Fischer–Tropsch fuel with successful results.
For NASA's N+3 future airliner program, Boeing has determined that hybrid electric engine technology is by far the best choice for its subsonic design. Hybrid electric propulsion has the potential to shorten takeoff distance and reduce noise.
In both 2008 and 2009, Boeing was second on the list of Top 100 US Federal Contractors, with contracts totaling US$22 billion and US$23 billion respectively. Since 1995, the company has agreed to pay US$1.6 billion to settle 39 instances of misconduct, including US$615 million in 2006 in relation to illegal hiring of government officials and improper use of proprietary information.
Boeing secured the highest ever tax breaks at the state level in 2013.
Boeing's spent US$16.9 million on lobbying expenditures in 2009. In the 2008 presidential election, Barack Obama "was by far the biggest recipient of campaign contributions from Boeing employees and executives, hauling in US$197,000 – five times as much as John McCain, and more than the top eight Republicans combined".
Boeing has a corporate citizenship program centered on charitable contributions in five areas: education, health, human services, environment, the arts, culture, and civic engagement. [ better source needed ] In 2011, Boeing spent US$147.3 million in these areas through charitable grants and business sponsorships. In February 2012, Boeing Global Corporate Citizenship partnered with the Insight Labs to develop a new model for foundations to more effectively lead the sector that they serve. [ better source needed ]
The company is a member of the U.S. Global Leadership Coalition, a Washington D.C.-based coalition of over 400 major companies and NGOs that advocates for a larger International Affairs Budget, which funds American diplomatic and development efforts abroad.A series of U.S. diplomatic cables show how U.S. diplomats and senior politicians intervene on behalf of Boeing to help boost the company's sales.
In 2007 and 2008, the company benefited from over US$10 billion of long-term loan guarantees, helping finance the purchase of their commercial aircraft in countries including Brazil, Canada, Ireland and the United Arab Emirates, from the Export-Import Bank of the United States, some 65% of the total loan guarantees the bank made in the period.
In December 2011, the non-partisan organization Public Campaign criticized Boeing for spending US$52.29 million on lobbying and not paying taxes during 2008–2010, instead getting US$178 million in tax rebates, despite making a profit of US$9.7 billion, laying off 14,862 workers since 2008, and increasing executive pay by 31% to US$41.9 million in 2010 for its top five executives.
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For the fiscal year 2017, Boeing reported earnings of US$8.191 billion, with an annual revenue of US$93.392 billion, a 1.25% decline over the previous fiscal cycle. Boeing's shares traded at over $209 per share, and its market capitalization was valued at over US$206.6 billion.
in million US$
|Net income |
in mil. US$
|Price per Share |
Between 2010 and 2018, Boeing increased its operating cash flow from $3 to $15.3 billion, sustaining its share price, by negotiating advance payments from customers and delaying payments to its suppliers. This strategy is sustainable only as long as orders are good and delivery rates are increasing.
The company's employment count is listed on its website below.
Approximately 1.5% of Boeing employees are in the Technical Fellowship program, a program through which Boeing's top engineers and scientists set technical direction for the company.The average salary at Boeing is $76,784, reported by former employees.
Board of directors
Chief executive officer
Chairman of the board
Lockheed Martin Corporation is an American global aerospace, defense, security and advanced technologies company with worldwide interests. It was formed by the merger of Lockheed Corporation with Martin Marietta in March 1995, and Loral Federal Systems in 1996. It is headquartered in North Bethesda, Maryland, in the Washington, DC, area. Lockheed Martin employs approximately 100,000 people worldwide as of December 2017.
Alaska Airlines is a major American airline headquartered in SeaTac, Washington, within the Seattle metropolitan area of the state of Washington. It is the fifth largest airline in the United States when measured by fleet size, scheduled passengers carried, and number of destinations served. Alaska, together with its regional partners, operates a large domestic route network, primarily focused on connecting from the state of Alaska to over one hundred destinations in the contiguous United States, Hawaii, Canada, Costa Rica, and Mexico. Alaska Airlines is not a member of any of the three major airline alliances. However, it has codeshare agreements with 17 airlines, including member airlines of Oneworld, SkyTeam, Star Alliance, and unaffiliated airlines. Regional service is operated by sister airline Horizon Air and independent carrier SkyWest Airlines.
The Archer Daniels Midland Company (ADM) is an American global food processing and commodities trading corporation, headquartered in Chicago, Illinois. The company operates more than 270 plants and 420 crop procurement facilities worldwide, where cereal grains and oilseeds are processed into products used in food, beverage, nutraceutical, industrial, and animal feed markets worldwide.
Thai Airways International Public Co., ltd., trading as THAI (SET: THAI, Thai: บริษัท การบินไทย จำกัด is the flag carrier airline of Thailand. Formed in 1988, the airline has its corporate headquarters in Vibhavadi Rangsit Road, Chatuchak District, Bangkok, and primarily operates from Suvarnabhumi Airport. THAI is a founding member of the Star Alliance. The airline is the second-largest shareholder of the low-cost carrier Nok Air with a 21.80 per cent stake, and it launched a regional carrier under the name Thai Smile in the middle of 2012 using new Airbus A320 aircraft.
The Boeing 787 Dreamliner or Boeing 787 is an American long-haul, mid-size wide-body, twin-engine jet airliner manufactured by Boeing Commercial Airplanes. Its variants seat 242 to 335 passengers in typical three-class seating configurations. It is the first airliner with an airframe constructed primarily of composite materials. The 787 was designed to be 20% more fuel-efficient than the Boeing 767, which it was intended to replace. The 787 Dreamliner's distinguishing features include mostly electrical flight systems, raked wingtips, and noise-reducing chevrons on its engine nacelles.
EVA Air Corporation, of which "EVA" stands for Evergreen Airways, is a Taiwanese international airline based at Taoyuan International Airport near Taipei, Taiwan, operating passenger and dedicated cargo services to over 40 international destinations in Asia, Australia, Europe, and North America. EVA Air is largely privately owned and flies a fully international route network. It is a 5-star airline, rated by Skytrax. It is the second largest Taiwanese airline. EVA Air is headquartered in Luzhu, Taoyuan City, Taiwan.
Ethiopian Airlines, formerly Ethiopian Air Lines (EAL) and often referred to as simply Ethiopian, is Ethiopia's flag carrier and is wholly owned by the country's government. EAL was founded on 21 December 1945 and commenced operations on 8 April 1946, expanding to international flights in 1951. The firm became a share company in 1965 and changed its name from Ethiopian Air Lines to Ethiopian Airlines. The airline has been a member of the International Air Transport Association since 1959 and of the African Airlines Association (AFRAA) since 1968. Ethiopian is a Star Alliance member, having joined in December 2011.
Air Tanzania Company Limited (ATCL) is the flag carrier airline of Tanzania based in Dar es Salaam with its hub at Julius Nyerere International Airport. It was established as Air Tanzania Corporation (ATC) in 1977 after the dissolution of East African Airways and has been a member of the African Airlines Association since its inception. The airline was wholly owned by the Tanzanian Government until 2002 when it was partially privatised as per the directive of the Bretton Woods Institutions to implement the country's Structural Adjustment Program. The government therefore reduced its shareholding to 51 percent and entered into a partnership with South African Airways.
Boeing Commercial Airplanes (BCA) is a division of the Boeing Company. It designs, assembles, markets, and sells jet airliners and business jets ; it also provides product-related maintenance and training to customers worldwide. It operates from division headquarters in Renton, Washington, with more than a dozen engineering, manufacturing, and assembly facilities located throughout the U.S. and internationally. BCA includes the assets of the Douglas Aircraft division of the former McDonnell Douglas Corporation, which merged with Boeing in 1997. In late 2016, BCA was home to some 78,000 employees.
Singapore Airlines Cargo is a cargo airline based in Singapore. It was a subsidiary of Singapore Airlines and was incorporated in 1988. SIA Cargo operated seven dedicated freighter aircraft and also manages the bellyhold of all NokScoot, Singapore Airlines, Scoot and SilkAir aircraft. Its head office is on the fifth floor of the SATS Airfreight Terminal 5 at Singapore Changi Airport.
The environmental impact of aviation occurs because aircraft engines emit heat, noise, particulates and gases which contribute to climate change and global dimming. Airplanes emit particles and gases such as carbon dioxide, water vapor, hydrocarbons, carbon monoxide, nitrogen oxides, sulfur oxides, lead, and black carbon which interact among themselves and with the atmosphere.
Rossiya Airlines OJSC, sometimes branded as Rossiya—Russian Airlines, is a Russian airline headquartered in Saint Petersburg with its hub at Pulkovo Airport. It is based in Saint Petersburg, with additional hubs at Moscow Vnukovo International Airport, Rostov-on-Don Airport and Orenburg Tsentralny Airport. Rossiya is majority (75%) owned by Aeroflot.
The competition between Airbus and Boeing has been characterised as a duopoly in the large jet airliner market since the 1990s. This resulted from a series of mergers within the global aerospace industry, with Airbus beginning as a European consortium while the American Boeing absorbed its former arch-rival, McDonnell Douglas, in 1997. Other manufacturers, such as Lockheed Martin and Convair in the United States, and British Aerospace and Fokker in Europe, were no longer able to compete and effectively withdrew from this market.
Sustainable biofuel is biofuel produced in a sustainable manner.
Aviation biofuel is a biofuel used for aircraft. It is considered by some to be the primary means by which the aviation industry can reduce its carbon footprint. After a multi-year technical review from aircraft makers, engine manufacturers and oil companies, biofuels were approved for commercial use in July 2011. Since then, some airlines have experimented with using biofuels on commercial flights. The focus of the industry has now turned to second generation sustainable biofuels that do not compete with food supplies nor are major consumers of prime agricultural land or fresh water. NASA has determined that 50% aviation biofuel mixture can cut air pollution caused by air traffic by 50–70%.
Airbus SE, from 2000 to 2014 known as the European Aeronautic Defence and Space Company (EADS), is a European multinational aerospace corporation that stood as the world's second biggest aerospace and defence company in 2018. Registered in the Netherlands and trading shares in France, Germany and Spain, Airbus designs, manufactures and sells civil and military aerospace products worldwide and manufactures in the European Union and various other countries. The company has three divisions: Commercial Aircraft, Defence and Space, and Helicopters, the third being the largest in its industry in terms of revenues and turbine helicopter deliveries.
Avolon is an aircraft leasing company based in Dublin, Ireland. It was founded in May 2010 by Dómhnal Slattery, and a team from RBS Aviation Capital including John Higgins, Tom Ashe, Andy Cronin, Simon Hanson and Ed Riley with initial capital of US$1.4 billion. The equity commitment of US$1.4 billion was from four leading international investors: Cinven, CVC Capital Partners, Oak Hill Capital Partners and the Government of Singapore Investment Corporation. Between 2010 and 2014, Avolon also raised US$6.1 billion in debt from the capital markets and a range of commercial and specialist aviation banks including Wells Fargo Securities, Citi, Deutsche Bank, BNP Paribas, Credit Agricole, UBS, DVB, Nord LB and KfW IPEX-Bank. In 2017, Avolon entered the public debt markets and raised a total over US$9 billion in debt finance. In November 2018, Avolon announced that Japanese financial institution, ORIX Corporation had acquired a 30% stake in the business from its shareholder Bohai Capital. In April 2019, Avolon announced it had raised US$2.5 billion of additional unsecured debt which resulted in an investment grade credit rating from Fitch, Moody's and S&P Global.
Sustainable aviation fuel (SAF) is the name given to advanced aviation biofuel types used in jet aircraft and certified as being sustainable by a reputable independent third-party, such as the Roundtable on Sustainable Biomaterials (RSB). This certification is in addition to the safety and performance certification, issued by global standards body ASTM International, that all jet fuel is required to meet in order to be approved for use in regular passenger flights.
This is the history of American aerospace manufacturing company Boeing.
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Under CEO Dennis Muilenburg, the industrial giant has turned unapologetically hard-nosed.