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The Boeing Company is an aerospace and defense corporation headquartered in Chicago, Illinois. Boeing is the largest global aircraft manufacturer by revenue, the second largest by deliveries and the second-largest defense contractor in the world.
Boeing has long been one of the world’s largest civil aircraft companies. In 2006 it took 55% of global commercial aircraft orders for the first time since 2000. The largest exporter in the United States, Boeing’s stock is a component of the Dow Jones Industrial Average.
Boeing was incorporated in Seattle, Washington by William Boeing, on July 15, 1916, as the "Pacific Aero Products Co." following the June 15 maiden flight of one of the two "B&W" seaplanes built with the assistance of George Conrad Westervelt, a U.S. Navy engineer. On May 9, 1917, the company became the "Boeing Airplane Company". William E. Boeing had studied at Yale University and worked initially in the timber industry, where he became wealthy and acquired knowledge about wooden structures. This knowledge would prove invaluable in his subsequent design and assembly of airplanes.
Boeing has achieved above projected orders for its 787 Dreamliner, outselling the rival Airbus A350. A large blow to Airbus came as Emirates Airlines president Tim Clark stated that his airline must be convinced that the 250 to 290-seat A350 would not repeat the "misses" by Airbus in performance and delivery. Emirates has held off ordering either airplane as it tries to convince Boeing to build a larger version of the 787, the 787-10 - which is the airline’s preferred option. Air Canada also dealt Airbus a blow by replacing its entire A330 and A340 fleet with 96 Boeing 777s and 787s.
Boeing officially announced in November 2005 that it would produce a larger variant of the 747, the 747-8, in two models, commencing with the Freighter model for two cargo carriers with firm orders for the aircraft. The second model, dubbed the Intercontinental, would be produced for passenger airlines that Boeing expected would place orders in the near future. Both models of the 747-8 would feature a lengthened fuselage, new, advanced engines and wings, and the incorporation of other technologies developed for the 787.