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Boeing

Boeing

Tagline

We are truly Building Something Better, and the details matter.

Net Worth

$152,136,000,000

Started in (City)

Illinois

Started in (Country)

USA

Incorporation Date

16th December, 1916

Bankruptcy Date

-

Founders

  • William E. Boeing

About

Boeing Company, American aerospace company, world’s largest and the foremost manufacturer of commercial jet transports. It is also a leading producer of military aircraft, helicopters, space vehicles, and missiles, a standing significantly enhanced with the company’s acquisition of the aerospace and defence units of Rockwell International Corporation in 1996 and its merger with McDonnell Douglas Corporation in 1997. Formerly Boeing Airplane Company, the firm assumed its current name in 1961 to reflect its expansion into fields beyond aircraft manufacture. Headquarters were in Seattle until 2001, when Boeing relocated to Chicago.

Beginning

William Edward Boeing, born in Detroit in 1881, graduated from Yale University in 1904. He went to the west to do job in the lumberjack. In the same year, he was observing that what was happening to with Kitty Hawk and he saw an opportunity to make flight as the means of transport. Boeing began to fly in 1911 under the tutelage of Glenn L. Martin, who would later found an airplane manufacturing company of his own. Martin developed the B-10 bomber series, including the 123, 139, and 166 models, which set the standard in the 1920s. The company also developed a streamlined monocoque fuselage, variable-pitch propellers, metal wings with lift-enhancing flaps, and retractable landing gear. The Boeing Company was established by aviation pioneer William Edward Boeing on July 15th, 1916. The company was located in Seattle, and was called Pacific Aero Products Co., but the name was changed one year later in honour of the founder. The company’s first airplane, Model C two-place training seaplane, was designed in November 1916. The Model C had a single main pontoon and small auxiliary floats under each wing and was powered by a Curtiss OX-5 engine. When the U.S. entered the First World War in 1917, the Navy purchased 51 out of 56 seaplanes built, making the model company’s first financial success and establishing a long-standing partnership with the U.S. military. Throughout the 1920s, Boeing developed many aircraft models, both for the military and transportation purposes. However, its first commercial airplane, the B-1, was not used to carry passengers, as coast to coast journeys often took more than 24 hours to commence. The aircraft delivered mail instead and Boeing won several major delivery contracts from the US Post Office. In order to manage business, the company founded Boeing Air Transport in 1927, which gave birth to United Airlines four years later. At Last, Boeing now become one of the largest manufacturer and seller of the aerospace equipment having branches more than 1 million in 53 countries.

Road to Success

In 1930, Boeing made their 1st biplane model, it is being introduced in the line of monoplanes, used for mail and cargo carrying and the company’s first single-winged fighter, the XP-9, the predecessor to the P-26 "Peashooter," which flew 27 mph faster than any of Boeing’s bi-winged models. The Monomail design was destined to become the precursor to the Model 247 airliner, and became a mainstay of United Airlines in 1933. The 247’s design was so successful that its sleek exterior was adapted to produce Boeing’s first monoplane bomber, the B-9, which was shaped like a cigar and given the moniker, "Flying Panatela." As the Cold War ground on, the Ground-to-Air Pilotless Aircraft (GAPA) produced during World War II in response to German “buzz bombs,” set the stage for such defensive weapons as the 45-foot Bomarc missiles, built in 1957. That experience prompted the military to award Boeing the contract for the Minuteman intercontinental ballistic missile project that included design and installation of missile bases and the maintenance support system. A growing family The 707, now with turbofan engines designed to reduce noise and increase efficiency, became the standard bearer for an entire family of jet planes built for specific purposes. The 727 was Boeing’s entry into the smaller airport/runway market. It was the only tri-jet built by the company. The enormous 747 jumbo jet was built to carry more passengers and help to relieve crowded airports. When U.S. president John F. Kennedy announced to the world in 1961 that America would put a man on the moon by the end of the decade, Boeing president William M. Allen loaned 2,000 executives to the National Aeronautics and Space Administration (NASA) to organize the venture, including the entire Apollo Program. Boeing was involved in the construction of the lunar orbiters, which photographed the moon’s surface and sent the images back to earth for NASA to choose the most advantageous landing sites for the astronauts. The lunar roving vehicles used by the astronauts also were built by Boeing.

Challenges

Boeing Co. ’s $2.5 billion agreement to end a criminal investigation by the Justice Department into the 737 MAX debacle resolves one of its highest-profile problems, but the plane maker still faces other legal and business challenges. Federal Aviation Administration officials have said Boeing faces potential civil penalties stemming from its alleged lack of candor in its dealings with regulators before and after two MAX crashes that claimed 346 lives. Ever since those crashes, Boeing has touted the overall safety of its 737 family of single-aisle jets. An older model of the jet, a 737-500, carrying 62 people crashed into the Java Sea Saturday. The cause of the accident was unknown. Boeing said it was monitoring the situation. Pilot errors and airline maintenance lapses generally have been responsible for major crashes of such earlier-model 737 aircraft.

Failures

The list of accidents and incidents involving the Boeing family of jet airliners, including the Boeing 737 Original (737-100/200), Boeing 737 Classic(737-300/-400/-500), Boeing 737 Next Generation (737-600/-700/-800/-900) and Boeing 737 MAX (737 MAX 7/8/200/9/10) series of aircraft. The 737 series was the best-selling commercial jetliner in history until this achievement was surpassed by the Airbus A320 series in 2019 mainly due to the Boeing 737 MAX groundings, with the first unit having first entered airline service in February 1968 and the 10,000th unit entering service in March 2018. The first accident involving a 737 was on July 19, 1970, when a 737-200 was damaged beyond repair during an aborted takeoff, with no fatalities; the first fatal accident occurred on December 8, 1972, when United Airlines Flight 553 crashed while attempting to land, with 45 (43 onboard plus 2 on the ground) fatalities; and, as of August 2020, the greatest loss of life aboard a 737 occurred on October 29, 2018, when Lion Air Flight 610, a 737 MAX 8, crashed into the Java Sea shortly after takeoff, with 189 fatalities. The most recent crash was on August 7, 2020, when Air India Express Flight 1344, a 737-800, skidded off the runway into a 9-10.5 metre (30-35 feet) gorge, killing eighteen including both pilots at Calicut International Airport in Kerala, India.

Achievements

  • In 2019, Boeing won innovation award winners
  • In 2016, Boeing won Performance Excellence Award (Consumables)
  • In 2013, Boeing won Performance Excellence Award (Lighting)

Subsidies

  • United Launch Alliance
  • Boeing Defense, Space & Security
  • Aviall Inc.
  • foreflight
  • Aurora Flight Sciences

CEOs

  • Dave Calhoun
  • Harry C. Stonecipher
  • James McNerney