and started making jet planes, like the famous F-8 Crusader. In the 1960s, the company was acquired by James Ling, formed part of Ling-Temco-Vought , and shifted gears into the missile and space industries under the umbrella of LTV Aerospace. In 1992, the division containing Vought was purchased 50-50 by Northrup and the Carlyle Group, and both these interests were purchased in 1994 by Northrup Grumman.
This is for various reasons, but one of the main ones is that they either went bankrupt or were subject to acquisitions and mergers throughout the 1950s and 1960s. This indicates, for the most part, that these companies were outcompeted by their competitors in some shape or form.gsmudger/iStockFor companies operating in countries on the "losing" side in the war, like Japan and Germany, most were either devastated by bombing or were restricted from making aircraft by the Allies.
Boeing is one of the most well-known companies in the world. It has an order backlog of about $500 billion and has been a top United States exporter for over a decade. But how and why did Boeing become such an aviation powerhouse? The impacts of this on post-war economies cannot be understated. With a lot of cash investment needed to get back up and running, it was simply not feasible for many European economies to get all of the independent aviation industries back on their feet again quickly. Many of these businesses also lost all of their orders following the cessation of conflict.
Rather than focusing on a small number of distinctive goods, Boeing adjusted as the market changed. Boeing went from manufacturing light aircraft to large ones when the War Department needed heavy bombers during World War Two. After the war, the civil aviation industry proliferated. Expertise in making big military planes was now used to make commercial airliners.
Despite all the pressures and setbacks of operating in a highly competitive sector, Boeing starts its second century in excellent form.