Martin Placek
Research expert covering transportation and electronics
Parker Hannifin - Statistics & Facts
Parker Hannifin Corporation (formerly Parker Appliance Company) started out in Cleveland, Ohio in 1917 as a small manufacturer of pneumatic break systems for trucks, trains, buses, and industrial machinery. Some years later, the company expanded its business into the aviation sector. The Second World War triggered the USAF's (U.S. Air Force) increasing need for equipment, and soon became a driver of growth. However, despite growing demand, the company nearly went bankrupt after its founder Arthur Parker passed away in 1945. His wife Helen assumed control and refocused its operations on civilian manufacturing, saving the company from closing down.
Throughout the remainder of the 20th century, Parker Hannifin focused its efforts on becoming the leader in fluid power technologies. After economic troubles in the 1970s, it expanded into the automotive aftermarket and aerospace industries - the company also designed parts used in the Apollo 11 moon landing in 1969. Furthermore, the company was called upon to provide equipment used inside the mechanical shark in Jaws (1975) as well as the Titanic replica used in the film of the same name (1997).
Today, Parker Hannifin is one of the largest makers of motion control technologies, offering a wide range of diversified industrial and aerospace products. It is ranked on the Fortune 500 with net sales of some 14.3 billion U.S. dollars in its 2018 fiscal year.
Throughout the remainder of the 20th century, Parker Hannifin focused its efforts on becoming the leader in fluid power technologies. After economic troubles in the 1970s, it expanded into the automotive aftermarket and aerospace industries - the company also designed parts used in the Apollo 11 moon landing in 1969. Furthermore, the company was called upon to provide equipment used inside the mechanical shark in Jaws (1975) as well as the Titanic replica used in the film of the same name (1997).
Today, Parker Hannifin is one of the largest makers of motion control technologies, offering a wide range of diversified industrial and aerospace products. It is ranked on the Fortune 500 with net sales of some 14.3 billion U.S. dollars in its 2018 fiscal year.
