Boeing

The Boeing Company is an American multinational corporation that designs and manufactures airplanes, rotorcraft, rockets, satellites, and missiles worldwide. The company also provides leasing and product support services. Boeing is among the largest global aerospace manufacturers and is the fourth-largest defense contractor in the world based on 2022 revenue.

Boeing was founded in 1916 by William E. Boeing in Seattle, Washington, and today it is one of the most important companies in the aerospace industry. The present corporation formed after Boeing merged with McDonnell Douglas on August 1, 1997.

As of 2023, Boeing's headquarters is located in the Crystal City neighborhood of Arlington County, Virginia. The company has three main divisions: Boeing Commercial Airplanes, Boeing Defense, Space & Security, and Boeing Global Services. In 2021, Boeing reported sales of $62.3 billion and was ranked 54th on the Fortune 500 list and 121st on the Fortune Global 500 list.

History

Main article: History of Boeing

The Boeing Company started in 1916 when William E. Boeing founded a small airplane company in Seattle, Washington. Over the years, Boeing grew by building many types of airplanes, helicopters, and even rockets. It also worked on projects for space travel and other industries.

In 1996, Boeing merged with another airplane company called McDonnell Douglas. Later, Boeing moved its headquarters from Seattle to Chicago and then to Arlington, Virginia. Despite many challenges, including job cuts and delays in airplane production, Boeing continues to be a major maker of airplanes and aerospace products around the world.

Divisions

Boeing has three main divisions. Boeing Commercial Airplanes builds popular airplanes like the Boeing 737, Boeing 767, Boeing 777, and Boeing 787 Dreamliner, along with special versions for business use. This division has many workers, especially in Everett and Renton, Washington, near Seattle, and also in South Carolina.

Boeing Defense, Space & Security makes military airplanes, helicopters, and missiles. It also creates space systems such as satellites, spacecraft, and rockets for both government and private customers. Finally, Boeing Global Services helps customers by providing support, maintenance, and upgrades for the airplanes and other equipment they have purchased.

Safety defects and airplane crashes

See also: Boeing manufacturing and design issues

Boeing 737 MAX crashes and groundings

Two Boeing 737 MAX airplanes crashed in separate incidents, leading to the grounding of all 737 MAX planes worldwide. This caused major problems for Boeing's reputation and business. Investigations found that Boeing had ignored some safety concerns to save time and money.

Alaska Airlines Flight 1282

Main article: Alaska Airlines Flight 1282

In 2024, a door on a Boeing 737 MAX 9 blew out during a flight, forcing the plane to make an emergency landing. This led to more inspections of similar planes and raised concerns about Boeing's quality control.

Potential replacement for the 737 MAX

In 2025, reports suggested Boeing was planning a new airplane to replace the 737 MAX and regain market share lost due to safety issues.

Environmental record

In 2006, a study showed that a Boeing site in Southern California had been contaminated with toxic and radioactive waste. Boeing agreed to a cleanup agreement with the EPA in 2017, and cleanup efforts are still ongoing.

Boeing produces a large amount of CO2 emissions, contributing to climate change. The company is working on solutions, such as sustainable aviation fuels, to reduce its environmental impact. By 2030, Boeing aims to make sustainable fuels suitable for all its planes and plans to reach net-zero carbon emissions by 2050. In 2022, Boeing partnered with Mitsubishi to develop carbon-neutral and sustainable solutions.

Jet biofuels

Main articles: Aviation biofuel and Algae fuel

Air travel creates a lot of greenhouse gases. Boeing believes that biofuels could lower these emissions by 60 to 80%. The company has worked with various fuel developers and tested different biofuels. Boeing and Air New Zealand also studied a plant called jatropha as a possible new fuel source.

Political contributions, federal contracts, advocacy and criticism

Boeing has received significant support and contracts from the U.S. government. In the late 2000s, it benefited from over $10 billion in loan guarantees to help buy airplanes in several countries. Boeing has also been among the top contractors for the U.S. federal government, with contracts worth billions of dollars.

The company has spent millions on lobbying efforts and has contributed to political campaigns. It also supports community programs in areas like education, health, and the environment. However, Boeing has faced criticism for its business practices, including accusations of unethical behavior and profiting from military conflicts.

Financials

Between 2010 and 2018, Boeing grew its operating cash flow from $3 billion to $15.3 billion. They kept their share price steady by getting advance payments from customers and waiting longer to pay their suppliers.

In 2020, Boeing's revenue dropped to $11.8 billion because of the pandemic. By 2021, revenue rose to nearly $17 billion as more jetliners were delivered. However, by the second quarter of 2024, revenues had fallen to $16.9 billion, with the company reporting losses and delivering fewer planes than the year before. Despite this, Boeing still had over 5,500 planes that customers had ordered but had not yet received.

Employment numbers

The Boeing Company has many employees around the world. About 1.5% of these employees are part of the Technical Fellowship program, where top engineers and scientists help guide the company's technical goals. In 2011, reports from former employees said that the average salary at Boeing was $76,784.

Corporate governance

In 2022, Rory Kennedy created a documentary film called Downfall: The Case Against Boeing, which was shown on Netflix. She talked about how Boeing used to be known for doing great work by focusing on safety and smart ideas, but later changed its focus.

In May 2022, Boeing decided to move its main office from Chicago to Arlington, Virginia, near Washington, D.C. In July 2024, the company chose a new leader named Kelly Ortberg. He met with officials to talk about Boeing's plans for the future and wants to help the company stay successful.