Gulfstream Aerospace Corporation. In New Georgia Encyclopedia. Gulfstream Aerospace Corporation, based in Savannah, is a wholly owned subsidiary of General Dynamics. Since the company has produced more than 2, aircraft for…. The New Georgia Encyclopedia does not hold the copyright for this media resource and can neither grant nor deny permission to republish or reproduce the image online or in print. All requests for permission to publish or reproduce the resource must be submitted to the rights holder.
Leroy Grumman left congratulates pilots Fred Rowley center and Carl Alber after their successful initial flight of the new Gulfstream I model in The aircraft, which seated twelve, could reach a maximum speed of miles per hour. On August 14, , the business aircraft Gulfstream I took its maiden flight. The plane represented a shift away from a sole focus on military aircraft for the Grumman Aircraft Engineering Company, which later became Gulfstream Aerospace Corporation, based in Savannah.
The G is Gulfstream Aerospace Corporation's most advanced passenger jet, boasting a range of 6, nautical miles at. The G is the largest, most technologically advanced aircraft in the Gulfstream fleet. The plane is capable of traveling 7, nautical miles at 0. View on source site. Gulfstream I, the first aircraft of the Gulfstream fleet, was designed in by the Grumman Aircraft Engineering Company and took its maiden flight in Today the fleet is produced by the Gulfstream Aerospace Corporation, based in Savannah.
Moss was appointed president in and served until his retirement in The company introduced the Gulfstream fleet of aircraft in and in moved its headquarters to Savannah. Author Phillip Bellury , Storyline Group. Originally published Aug 12, Last edited Aug 19, G Courtesy of Gulfstream Aerospace Corporation. G Image from Charly W. Article Feedback Why are you reaching out to us? Share this Article. Facebook Twitter Email. Share this Snippet.
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Paulson, head of his own holding company in California, American Jet Industries a company that converted planes into propjets , had longed for the moment when he could become owner of his own aircraft manufacturing company. Paulson had grown up in humble circumstances. As an adult he became an aircraft mechanic for TWA and eventually learned enough about aviation to do business in aircraft parts, the basis of his early fortune.
Despite recessionary times, plans were in the works to create an even better, more sophisticated business jet, the Gulfstream III. Paulson's entrepreneurial daring paid off, and the early years of his company were surprisingly profitable. Under its dynamic new owner, Gulfstream transformed itself in the first year and a half from what had been largely an aircraft assembly plant to a major manufacturing center.
Aircraft parts that had formerly been purchased from numerous vendors were manufactured by Gulfstream, increasing the company's production capacity. Paulson saw to it that the company transformed itself into a high-tech establishment with state-of-the-art manufacturing equipment and the latest computers. The company also expanded outside of Savannah, acquiring in a large ,square-feet plant in Oklahoma City, the Gulfstream Aerospace Technologies.
The new corporate jet was in such demand that production continued until Its popularity was due to many factors, including its long flight capability. Times were changing for aircraft manufacturers, however. Over the previous ten years, the cost of developing a new jet had risen ninefold, and competition from foreign companies--whose aircraft industries were often government subsidized--was keen. In the mids, despite boom economic times, the aviation industry stagnated; was perhaps the worst year in the industry.
Gulfstream's profits shrank, and Paulson offered eight million shares of the company's common stock for sale out of 33 million shares, 70 percent of which he still owned. At the same time, the domestic auto industry was experiencing flush times. The nation's third largest automaker, Chrysler Corporation, headed by Lee Iaccoca, was casting about for ways to diversify.
Paulson as chair of the new subsidiary. That same year, General Dynamics Corporation acquired Cessna Aircraft an even bigger company than Gulfstream , which had been suffering financially for some of the same reasons.
Production of the GS III was brisk and plans were in the works for the premier business jet of the 21st century, the GS IV, yet Paulson chafed under what he considered to be Chrysler's ignorance of the aviation industry. Nonetheless, Chrysler's purchase of Gulfstream enabled the subsidiary to move forward and prosper, establishing record profitability in the years of Chrysler ownership. In that year the GS IV set a world record for speed as it flew around the world.
Gulfstream Aerospace had a backlog of orders for the new GS IV, the biggest backlog in company history. In the company again expanded, acquiring a plant at Long Beach, California. With the onset in of another recession, however, Chrysler decided to divest its non-automaking subsidiaries. Once again, Gulfstream was for sale to the highest bidder, and Paulson was eager to repurchase the company and develop it. Gulfstream Aerospace Corporation once more was an independent private company under Paulson's ownership, and again he purchased the company, as in , at the height of a recession.
Paulson had big plans for the now independent company. William C. Lowe was named president and CEO of the company, while Paulson retained his position as chair of Gulfstream. Whereas the joint project with the Soviet Union fell through and the supersonic jet was placed on the back burner, Paulson's other plans materialized under Lowe's management. Lowe was highly experienced, having served more than 25 years as a manager at IBM and as president for development and manufacturing at the Xerox Corporation.
At Gulfstream, Lowe endeavored to diversify and streamline the company, though aircraft and aircraft parts continued to be Gulfstream's chief manufactures.
The international market became increasingly important to Gulfstream Aerospace; by the fall of , well over 60 percent of GS sales were abroad. Gulfstream evolved after its inception in from an aircraft assembly plant in Savannah, Georgia, to a major manufacturer of highly sophisticated jet aircraft, a world pacesetter. The company downsized in terms of employees from 5, to 4, while at the same time expanding its facilities considerably. It grew to include not only the original plants in Savannah, but also its engineering support center, Gulfstream Technologies in Oklahoma City, and assembly plants in Long Beach, California.
In the fall of , the new Gulfstream V, complete with computer workstation aboard and state of the art telecommunications, was unveiled at the National Business Aircraft Association Conference in Dallas; featured also was the upgraded GS IV-SP Special Performance business jet, production of which began in
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