Boeing is the world's largest aerospace company and leading manufacturer of commercial jetliners and defense systems. It produces commercial and military aircraft, satellites, weapons, electronic systems, and provides related services. In 2008, Boeing's annual turnover was $60.9 billion. Founded in 1916, Boeing pioneered commercial aviation and has played a major role in U.S. space programs and defense contracting. It now employs over 70,000 people globally and has major operations across the U.S., Europe, and Asia.