Boeing is a multinational corporation in the USA which is known for manufacturing and selling aircraft, satellites, and rockets across the world. It was founded in 1916 and has become a popular name in aircraft manufacturing. Its stock is a component of Dow Jones Industrial Average. The headquarters of Boing is located in Chicago. Keep reading to know more about net worth of Boeing in 2020.
William E. Boeing created the first airplane factory after buying a shipyard in 1910. In 1916, it was named as the ‘Pacific Aero Products Co.’. It was founded in Seattle. The company’s maiden flight took place in the same year.
In 1917, his company was named as the ‘Boeing Airplane Company’. They first manufactured the Model C for the U.S. Navy. After the end of World War I, Boeing started to manufacture other products.
In 1919, Boeing made ‘Boeing B-1’. This was followed by ‘Boeing Model 8’ in 1920. In the 1920s, it manufactured PW-9 fighter and was involved in a competition with Curtiss. The company introduced many new aircraft in the 1930s and 1940s.
The 1950s saw the coming of B-47 Stratojet, B-52 Stratofortress, Boeing 707, and KC-135 Stratotanker. It became a major producer of turbine engines during the 1960s. In 1970, the company launched its first commercial flight in the United States. Named as the 747, it went on to change the airline industry.
With the arrival of Airbus in the 1980s, Boeing started to manufacture new products. In 1994, the company started the double-engine ‘777’. They acquired the defence and aerospace units of Rockwell in 1996.
Boeing moved its headquarters to Chicago from Seattle in 2001. In 2004, they produced 1,050 ‘757’ aircraft. The company then came up with ‘Boeing 787 Dreamliner’. In 2007, Boeing was selected by NASA for Ares I rocket.
The company acquired Fairfax in 2010. In 2015, Dennis Muilenburg was named as the CEO of Boeing after James McNerney stepped down. He was later selected as the Chairman of the Board. In 2017, it sold 48 CH-47F Chinooks to Saudi Arabia which was worth $3.51 billion.
In 2018, The Boeing Company appeared in the list of “World’s Most Admired Companies” by Fortune. It has also appeared in the list of “Fortune 500” in 2017. Also in 2017, it appeared in the list of “Fortune Global 500”.
Net Worth & Earnings
The estimated net worth of Boeing is more than $95 billion. It is the largest manufacturer of aircraft in the world. It has been in operation for over a century. The company has got more than 140,000 employees across the world. Its net income in 2017 was $8.197 billion. The revenue collected for the same year was $93.39 billion. Additionally, it has got other primary divisions like Boeing Commercial Airplanes, Boeing Capital, Boeing Shared Services Group, Boeing Defense, Space & Security, and Engineering, Operations & Technology.
Boeing is a top name in the world of aircraft. It is the largest aircraft manufacturer and is the world’s second-most defence contractor. The company has seen many ups and downs since its inception. Apart from aircraft, it is also a popular name in manufacturing satellites.