Boeing is the world's biggest manufacturer of jet aircraft, and one of only two companies - the other is Europe's Airbus - currently producing planes capable of carrying 100 passengers or more. Boeing's dominance is demonstrated by the fact that almost 75% of all commercial jets currently in service were manufactured by the company or one of its subsidiaries. However, the sharp contraction of the airline industry from 2008 onwards posed a new set of challenges, combined with long delays on completion of Boeing's hotly anticipated Dreamliner 787 jet, which finally entered commercial service at the end of 2011 more than three years behind schedule. That project was initially plagued by safety concerns over its battery-powered control systems and all Dreamliner flights were temporarily suspended at the beginning of 2013 following several non-fatal accidents. Those problems were resolved and the company delivered its 500th Dreamliner in 2016. Despite the popularity of the long-range Dreamliner with airline customers, the biggest seller in the portfolio, accounting for two-thirds of all deliveries, is the smaller short- to medium-range 737 jet. An updated and more fuel-efficient version of that plane, the 737 Max, began shipping to customers in 2017. In 2016, Boeing took total new orders for 668 aircraft at a combined value of $94bn. That was behind Airbus's 731 orders at $105bn in value, but the American company delivered more planes during the year. Separately, the company is also one of the US Government's leading suppliers of military hardware, ranging from aircraft and helicopters to missiles and weapons systems. That division alone generates revenues of around $30bn a year. Group revenues topped $96bn for the first time in 2015, boosted by strong sales of the Dreamliner, before slipping back the following year to $94.6bn. James McNerney stepped down as CEO in 2015 in favour of former COO Dennis Muilenberg. The company was originally founded by William Boeing in 1916 to make seaplanes, and was an early pioneer in commercial travel and freight. The company's transportation division was demerged in 1934, to become United Air Lines. Boeing later absorbed several other aircraft manufacturers including its main US rival McDonnell Douglas in 1997. Adbrands no longer profiles this company but subscribers may access account assignments and contact information. The searchable account assignments database is available to full subscribers to Adbrands.net premium services. Click here to access Adbrands account assignments (subscribers only); or see here for information on how to subscribe.
Capsule checked 31st March 2017
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