The aerospace industry generated nearly half a trillion U.S. dollars in revenue during 2015 with key markets in the United States, Europe, Russia and Canada. Two of the largest aerospace and defense manufacturers in the world are Boeing and Airbus with revenues of 94.57 billion U.S. dollars and 71 billion U.S. dollars (or 67 billion euros), respectively.
The Boeing Company was incorporated in 1916 by William E. Boeing out of Seattle, Washington as "Pacific Aero Products Co". Boeing's background in wooden structure design is believed to have inspired his future design and assembly of airplanes. To benefit from the abundance of spruce wood in the area, Seattle remained as the primary manufacturing location. Since then, Boeing has become one of the largest manufacturers of commercial aircraft and an important defense contractor for many countries worldwide. In November 2017, Boeing announced that Fly Dubai had committed to buy 175 jets.
Airbus Group serves as Europe's counterpart to the Boeing Company. During the mid-1990s, several European aerospace and defense contractors, such as DaimlerChrysler Aerospace and Aérospatiale-Matra, were looking to take advantage of the newly formed European Union and eurozone by merging into a single entity. The resulting merger took place in July of 2000 and led to a newly formed company known as the European Aeronautic Defence and Space Company (EADS). After 14 years of operation, EADS reorganized the company into the Airbus Group, with three primary divisions in aircraft, airspace, and helicopter manufacturing. Today, the Airbus Group has several manufacturing sites across Europe, while employing almost 133,800 people globally. In November 2017, Airbus notched up an order from Indigo Partners, who agreed to buy 430 aircraft valued at about 50 billion U.S. dollars.
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