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Northrop Corporation was an American aircraft manufacturer from its formation in 1939 until its 1994 merger with Grumman to form Northrop Grumman. The company is known for its development of the flying wing design, most successfully the B-2 Spirit stealth bomber.
Northrop was the prime contractor on the radical YF-23 which was one of two candidates for the Advanced Tactical Fighter but would eventually lose to the F-22 Raptor. [45] Northrop later partnered with Lockheed on the F-35 and serves as a principal member of the Lockheed Martin industry led team. [12]
The end of the Cold War at the beginning of the 1990s reduced defense spending and led to a wave of mergers as aerospace companies shrank in number; in 1994 Northrop bought Grumman for $2.1 billion to form Northrop Grumman, [22] after Northrop topped a $1.9 billion offer from Martin Marietta. [23]
Lockheed Martin abandoned plans for an $8.3 billion merger with Northrop Grumman on July 16, 1998, due to government concerns over the potential strength of the new group; Lockheed/Northrop would have had control of 25% of the Department of Defense's procurement budget. [23]
Following Boeing's 1996 acquisition of Rockwell's North American division, McDonnell Douglas merged with Boeing in August 1997 in a US$13 billion stock swap, with Boeing as the surviving company. [ 1 ] [ 55 ] Boeing introduced a new corporate identity based on the McDonnell Douglas logo, which showed the globe being encircled in tribute to the ...
Airline stocks are down in what has turned out to be a bumpy start to 2024 spurred by Boeing's mid-air accident and a blocked merger. Boeing lost $35 billion in market cap this year, dragging down ...
Boeing introduced a new corporate identity with completion of the merger, incorporating the Boeing Stratotype wordmark introduced in 1947, and a stylized version of the McDonnell Douglas symbol, which was the adoption of the Douglas Aircraft logo from 1962. It was done by graphic designer Rick Eiber followed a request from Boeing.
If Boeing is looking for a transitional CEO who can bring continuity and credibility from the pre-Calhoun era, few would be better suited than Conner. 5. Marc Allen, the former president of Boeing ...