General Dynamics has its roots in John Phillip Holland’s Holland Torpedo Company, which he founded in the late 1800’s. Holland Torpedo Company developed the U.S. Navy’s first submarine, which was commissioned in 1900.
The company, now renamed the Electric Boat Company, grew, developing new and better submarines and selling to governments all over the world. After World War II the company needed new areas to invest in, and purchased Canadair for $10 million in 1946 from the Canadian government.
Canadair went on to become a major aerospace company with many Canadian government contracts. This was due in part to increased military spending from the Cold War.
In 1952 the company changed its name to General Dynamics. This was because with the increased importance of aircraft production, management believed that Electric Boat was no longer appropriate.
General Dynamics began to bid and win military contracts, such as the Lightweight Fighter in 1972 and the F-16 in 1974.
Today General Dynamics is the fifth-largest defense contractor in the United States. It is part of the S&P 500, has over 90,000 employees worldwide, and had revenue of $31.513 billion in 2012.
General DynamicsGeneral Dynamics has its roots in John Phillip Holland’s Holland Torpedo Company, which he founded in the late 1800’s. Holland Torpedo Company developed the U.S. Navy’s first submarine, which was commissioned in 1900.
The company, now renamed the Electric Boat Company, grew, developing new and better submarines and selling to governments all over the world. After World War II the company needed new areas to invest in, and purchased Canadair for $10 million in 1946 from the Canadian government.
Canadair went on to become a major aerospace company with many Canadian government contracts. This was due in part to increased military spending from the Cold War.
History
In 1952 the company changed its name to General Dynamics. This was because with the increased importance of aircraft production, management believed that Electric Boat was no longer appropriate.
General Dynamics began to bid and win military contracts, such as the Lightweight Fighter in 1972 and the F-16 in 1974.
Today General Dynamics is the fifth-largest defense contractor in the United States. It is part of the S&P 500, has over 90,000 employees worldwide, and had revenue of $31.513 billion in 2012.