Harley-Davidson was founded in 1903 in Milwaukee, Wisconsin by William S. Harley and the Davidson brothers. It began producing motorcycles with their signature V-twin engine and became the official bike supplier for the U.S. Army during World War I and World War II. While it struggled under new ownership in the 1970s, Harley-Davidson has grown to a value of $8.9 billion today. However, it now faces strong competition from other motorcycle manufacturers and must balance the loyal following of its classic brand with pressures from new technologies and customers.