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Concept
Boeing
Summary
The Boeing Company (ˈboʊɪŋ) 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 third-largest defense contractor in the world based on 2020 revenue, and is the largest exporter in the United States by dollar value. Boeing's stock is a component of the Dow Jones Industrial Average.
Boeing was founded by William Boeing in Seattle, Washington, on July 15, 1916. The present corporation is the result of the merger of Boeing with McDonnell Douglas on August 1, 1997. Then–chairman and CEO of Boeing, Philip M. Condit, assumed those roles in the combined company, while Harry Stonecipher, former CEO of McDonnell Douglas, became president and COO.
As of 2023, the Boeing Company's corporate headquarters is located in Crystal City, Arlington, Virginia. The company is organized into four primary divisions: Boeing Commercial Airplanes (BCA); Boeing Defense, Space & Security (BDS); Boeing Global Services; and Boeing Capital. In 2021, Boeing recorded $62.3 billion in sales. Boeing is ranked 54th on the Fortune magazine "Fortune 500" list (2020), and ranked 121st on the "Fortune Global 500" list (2020).
In 2019, Boeing's global reputation, commercial business, and financial rating suffered after the 737 MAX fleet was grounded worldwide following two fatal crashes in late 2018 and early 2019.
History of Boeing
The Boeing Company was started in 1916, when American lumber industrialist William E. Boeing founded Pacific Aero Products Company in Seattle, Washington. 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.
Official source
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