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About The Boeing Company

Boeing has built a big name for itself as one of the world's largest aerospace companies. Its commercial jet aircraft models include the 737 narrow body; the fuel efficient 737 MAX; the 747, 767, and 777 wide bodies; and the 787 Dreamliner. Serving the military, science, and space and sea exploration sectors, the company also produces KC-46 aerial refueling aircraft, the AH-64 Apache helicopter, the 702 family of satellites, CST-100 Starliner spacecraft, and the Echo Voyager unmanned undersea vehicle. Major customers include the US Department of Defense and NASA. Additionally, Boeing provides airplane financing and leasing services to both commercial and military customers.

Operations

Boeing's operations are divided into three business units: Commercial Airplanes; Defense, Space & Security (DSS); and Boeing Global Services (BGS), which began operations in mid-2017. Supporting these segments is Boeing Capital, its global financing operations.

Boeing Commercial Airplanes designs, manufactures, and services commercial jet aircraft for both passengers and cargo. Models include the 737 narrow body, the fuel efficient 737 MAX, and the 747, 767, 777, and 787 families. New product development initiatives include the Boeing 787-10 Dreamliner, the 737 MAX, and the 777X.

DSS provides design, modification, and support services for large-scale systems, including missiles, munitions, aerial refuelers, transporters, and spacecraft. It acts as a systems integrator on several programs, including NASA's International Space Station and Missile Defense Agency's Ground-based Midcourse Defense.

The newly formed BGS division caters to aerospace and defense needs across the following four areas: supply chain management, engineering, aircraft modification, digital analytics and training, and professional services. The division is also tasked with expanding Boeing's data analytics and information-based services capabilities.

Geographic Reach

Boeing's principal operations are in the US, Canada, and Australia, with some key suppliers and subcontractors located in Europe and Japan. Boeing makes about 40% of its total revenues in the US and about 60% from international markets (primarily Europe, Asia/Pacific, and the Middle East).

Sales and Marketing

Boeing's main customer is the Department of Defense, with approximately 65% of revenues (excluding foreign military sales through the US government). Other significant revenues are derived from international defense markets, civil markets, and the commercial satellite market.

Financial Performance

After posting record-setting revenues of $96 billion in 2015, Boeing saw its revenues slip 2% to $95 billion in 2016. This was attributed to declines across the majority of its segments.

Commercial Airplanes revenues decreased 1% in 2016 primarily due to lower deliveries. The DSS segment also experienced decreased revenues related to its Commercial Crew program, lower milestone revenue related to fewer C-17 aircraft deliveries, and lower volume on proprietary programs. In addition, Boeing Capital's revenues plummeted due to lower lease income and lower end of lease settlement payments during 2016.

Boeing's profits fell 5% from $5.2 billion in 2015 to $4.9 billion in 2016 due to higher research and development costs related to 787 aircraft flight tests. Despite the revenue and profit declines, Being's operating cash flow climbed from nearly $9.4 billion in 2015 to $10.5 billion in 2016. The rise in cash flow was largely due to lower expenditures on commercial airplane program inventory, primarily for its 787.

Strategy

Boeing's growth strategy is centered around its new product development initiatives. Flight testing of the 787-9 Dreamliner variant occurred in 2014, and its first delivery was in mid-2014. The 787-10 is on plan for first delivery in 2018 and will incorporate a high degree of shared design elements and parts commonality with the 787-9 to likewise minimize risk and lower development and fleet maintenance costs. The 777X (Boeing's newest twin-engine jet, with 12% lower fuel consumption and 10% lower operating costs than its competitors) is slated for its first delivery in 2019.

In a significant move to make it less reliant on suppliers, Boeing in 2017 created a new avionics and aircraft computer system manufacturing division that will produce aircraft electronics systems such as navigation, flight controls, communications, sensors, and displays. The move is part of Boeing’s strategy of growing its aftermarket services segment from $14 billion to $50 billion within five to 10 years. By creating its avionics components and systems itself, Boeing can continue to reap sales from maintenance and upgrade contracts of its planes for years after they’re sold.

Mergers and Acquisitions

Boeing achieves growth by acquiring businesses that focus on specific technology products and target the needs of emerging markets.

In late 2018, Boeing completed its acquisition of KLX Aerospace Solutions allowing Boeing to compete in the aerospace services market. KLX is a provider of aviation parts and services in the aerospace industry distributing products for approximately 2,400 manufacturers and offers approximately 1 million catalog items. It will continue to operate from Miami with customer service centers located in more than 15 countries.

Also in 2018, it formed a partnership with Brazil-based Embraer to take over its commercial aircraft operations (Embraer's defense division and business jet unit were not part of the deal). Boeing acquired an 80% interest in the venture and expects costs synergies of about $150 million by 2020.

Another 2018 acquisition was small-satellite developer Millennium Space Systems, based in El Segundo, Calif. Millenium will operate as a subsidiary of Boeing Phantom Works and further adds to Boeing's investment in the aerospace market.

The Boeing Company

100 N RIVERSIDE PLZ
Chicago, IL 60606-2016
Phone: 1 (312) 544-2000

Stats

Employer Type: Publicly Owned
Stock Symbol: BA
Stock Exchange: , NYSE
Vice Chairman: Raymond L. Conner
Chairman, President, and CEO: Dennis A. Muilenburg
EVP, Business Development and Strategy and CFO: Gregory D. Smith
Employees (This Location): 277
Employees (All Locations): 153,000

Major Office Locations

Chicago, IL

Other Locations

Anchorage, AK
Homer, AK
Eva, AL
Huntsville, AL
Mesa, AZ
Phoenix, AZ
Yuma, AZ
Canoga Park, CA
Cerritos, CA
Costa Mesa, CA
Cypress, CA
Edwards, CA
El Segundo, CA
Garden Grove, CA
Huntington Beach, CA
Lemoore, CA
Long Beach, CA
Los Angeles, CA
March Arb, CA
Mission Viejo, CA
Mountain View, CA
Palmdale, CA
Pleasanton, CA
Rancho Cucamonga, CA
San Diego, CA
San Jose, CA
San Luis Obispo, CA
San Mateo, CA
Santee, CA
Seal Beach, CA
Torrance, CA
Travis Afb, CA
Van Nuys, CA
Victorville, CA
Whittier, CA
Centennial, CO
Colorado Springs, CO
Englewood, CO
East Windsor, CT
Dover, DE
Cape Canaveral, FL
Crestview, FL
Davie, FL
Eglin Afb, FL
Fort Myers, FL
Fort Walton Beach, FL
Hurlburt Field, FL
Jacksonville, FL
Kennedy Space Center, FL
Lauderdale Lakes, FL
Miami Springs, FL
Orlando, FL
Tampa, FL
Titusville, FL
Virginia Gardens, FL
Atlanta, GA
Forest Park, GA
Kings Bay, GA
Macon, GA
Warner Robins, GA
Hickam Afb, HI
Honolulu, HI
Kihei, HI
Bedford Park, IL
Saint Charles, IL
Scott Afb, IL
Swansea, IL
Crown Point, IN
Kansas City, KS
Wichita, KS
Frankfort, KY
Broussard, LA
Cambridge, MA
Concord, MA
California, MD
Hanover, MD
Patuxent River, MD
Bangor, ME
Bath, ME
Bloomfield Hills, MI
Waterford, MI
Saint Paul, MN
Florissant, MO
Hazelwood, MO
Saint Charles, MO
Saint Louis, MO
Saint Peters, MO
Troy, MO
Bay Saint Louis, MS
Columbus, MS
Jackson, MS
Glasgow, MT
Goldsboro, NC
Havelock, NC
Morrisville, NC
Offutt A F B, NE
Omaha, NE
Berkeley Heights, NJ
Mullica Hill, NJ
Parsippany, NJ
Shrewsbury, NJ
Swedesboro, NJ
Albuquerque, NM
Fallon, NV
Las Vegas, NV
New York, NY
Cincinnati, OH
Fairborn, OH
Newark, OH
Wright Patterson Afb, OH
Altus, OK
Oklahoma City, OK
Tulsa, OK
Portland, OR
Wilsonville, OR
Lafayette Hill, PA
Pittsburgh, PA
Ridley Park, PA
Wallingford, PA
Ladson, SC
North Charleston, SC
Goodlettsville, TN
Memphis, TN
Abilene, TX
Austin, TX
Conroe, TX
Dallas, TX
El Paso, TX
Houston, TX
Irving, TX
Laughlin Afb, TX
Plano, TX
Richardson, TX
San Antonio, TX
Universal City, TX
Clearfield, UT
Layton, UT
Ogden, UT
Salt Lake City, UT
West Jordan, UT
Arlington, VA
Chantilly, VA
Chesapeake, VA
Fairfax, VA
Herndon, VA
Norfolk, VA
Auburn, WA
Bellevue, WA
Bingen, WA
Bothell, WA
Everett, WA
Kent, WA
Kirkland, WA
Maple Valley, WA
Mukilteo, WA
Puyallup, WA
Renton, WA
Seatac, WA
Seattle, WA
Spokane, WA
Tukwila, WA
Bridgeport, WV
Brasilia, Brazil
Rio De Janeiro, Brazil
Salvador, Brazil
Sao Jose Dos Campos, Brazil
Sao Paulo, Brazil
Calgary, Canada
Mirabel, Canada
Mississauga, Canada
Ottawa, Canada
Richmond, Canada
Winnipeg, Canada
Domodedovo, Russia
Moscow, Russia
Tyumen, Russia
Ankara, Turkey
Bruxelles, Belgium
Bristol, England
Hounslow, England
Knaresborough, England
Leighton Buzzard, England
Berlin, Germany
Bogota, Colombia
Seoul, South Korea