What is Boeing?
Boeing is a US-established company that manufactures commercial aeroplanes and military aircraft, helicopters, weapons, launch systems, satellites, electronic and defence systems and more. It’s the largest aerospace company in the world, and America’s biggest manufacturing exporter. The company serves customers in over 150 countries.
Boeing is organised into three business units: Commercial Airplanes; Defense, Space & Security; and Boeing Global Services. Boeing Capital Corporation, a global provider of financing solutions, supports these units.
Boeing is probably best known as the manufacturer of commercial jetliners used by air travellers around the world for decades. Today the company manufactures the 737, 747, 767, 777 and 787 families of airplanes as well as the Boeing Business Jet range. But Boeing faces some stiff competition in aircraft manufacturing. Rivals seeking to increase their market share include Airbus, Embraer and Bombardier.
Who are the key people at Boeing?
Dennis Muilenburg is Chairman of the Board, President and Chief Executive Officer of Boeing, and oversees its strategic direction. He has worked at Boeing since 1985, so it’s fair to say that he really knows the company inside out.
Another leading figure is Marc Allen. He’s President of Boeing International – a role that gives him responsibility for the company’s international strategy and operations outside the US, overseeing 18 regional offices in key global markets.
What is the modern history of Boeing?
Boeing has been around for over a century, and it’s been a household name for much of that time. Among its many landmark achievements, the company designed and built the first stage of the Saturn V rocket for the Apollo expeditions to the moon. The Boeing 747, which came into service in 1970, was the largest civilian aircraft in the world at the time. And Boeing’s newest aircraft, the 787 Dreamliner, consumes a fifth less fuel than comparably sized planes. After its maiden flight in 2009, the Dreamliner reached 1,000 orders faster than any other plane in history. However, a series of problems affected its engines and lithium-ion batteries.
What are the latest developments at Boeing?
At the end of 2017, Boeing CEO Dennis Muilenburg predicted that Boeing would beat Elon Musk’s SpaceX to Mars. In an interview, he said Boeing was in the final assembly stages of constructing a rocket called the Space Launch System with NASA. The company would be the first to bring humans to the red planet, he declared.
Meanwhile, in December 2017 it was reported that Boeing had been in takeover talks with Brazilian aerospace conglomerate Embraer, valuing it over its $3.7 billion market value. The companies both confirmed discussions over a potential "combination", though any deal would be subject to approval by the Brazilian government and regulators, and both companies’ boards and shareholders. In February 2018, Embraer’s CEO said he expected tie-up talks with Boeing to be finalised in the first half of the year.
The Boeing share price climbed slowly but steadily from 2013 to 2017, and the company was ranked #24 on the 2017 Fortune 500 list. Boeing shares rose sharply amid the Embraer takeover talk in January 2018, and on 2 March 2018 they stood at $341.50, giving the company a market capitalisation of around $202.2 billion.
Our BA chart tracks the ups and downs of the company’s share price over recent weeks and months.
Where does Boeing operate?
Boeing is headquartered in Chicago, Illinois, and employs over 140,000 staff in the USA and in more than 65 countries around the world. The company has regional executives in offices on every continent to extend its global reach and local market focus. More than 70 per cent of Boeing’s total order book is represented by customers outside the US.
Where is Boeing traded?
Boeing is listed on the New York Stock Exchange (NYSE) and is a member of the Dow Jones Industrial Average. Check out Capital.com for the latest BA chart.