Boeing Industries Inc.
The Boeing Company can trace its roots from the combined contributions of two men of immense foresight and pioneering skills, namely, William Edward Boeing and naval engineer George Conrad Westervelt. In 1916, the duo began the designing and manufacture of the B&W, a twin-float seaplane, in earnest. The same year, Boeing, now the sole operator following Westervelt's posting in the East, incorporated his fledgling company as Pacific Aero Products company. In 1917, he changed the name to Boeing Airplane Co.
The operations were notably inclined for Navy orders initially. The role of Boeing airplanes through World War -I and later in World War -II is marked. The first commercial aircraft took flight by end of 1919. By 1927, Boeing had secured a contract with the US Postal Dept to fly airmail. It was in 1939 that the 'Clipper' by Boeing forayed into civil aviation. In 1958, Boeing partnered with NASA to launch the 'Pioneer -I' spacecraft 79173 miles into space, the farthest distance till then for an Earth launched object.
By 1959, Boeing engineers were developing 'Dyna-Sore' the first manned orbiting craft. This was the start of the development and manufacture of many satellites and space vehicles by Boeing. The first object to land on lunar surface in 1967, the 'Surveyor 3' was a Boeing product. In 1964 the first Hughes Model XV9A Hot Cycle helicopter was flown by Boeing.
Today, Boeing is the world's leading aerospace company and manufacturer of commercial jetliners and military craft. Its expertise also extends to rotor craft, electronic and defense systems, missiles, satellites, launch vehicles and advanced information and communication systems.
With over 90 international customers, and operations at 264 locations worldwide, the company has its headquarters in Chicago and employs 158,000 people across the US and in 70 other countries. It is currently organized into 2 business units; Boeing Commercial Airplanes and Boeing Defense, Space and Security. At Boeing, President and CEO W James McNerney, Jr. reigns at the helm of affairs, and was instrumental in mobilizing $160 million for charity worldwide.
India is one of the key markets that Boeing is looking at to strengthen its presence. With a single enterprise approach in this segment, an MOU between Boeing and HAL (Hindustan Aeronautical Limited) was signed for 10 years in Dec 2007.In Feb 2008, Boeing formed a joint venture with TATA Industries India to work towards more than $550 million worth aerospace components in India. An investment of$ 300 million by Boeing in Indian Defense Industry has been reported in 2011.
Israel is another important partner in future plans for Boeing. In addition, a ramp up in delivery capacity is planned by 2014, to be able to discourage new entrants in the market, by upping the production rate to one commercial craft every 12 hours. Boeing is also optimistic about its bottom line growth in the air cargo segment catalyzed by the rising GDP globally in 2011.