How Much Did The Boeing 747 Cost To Build?

Summary Developing the Boeing 747 went massively over budget at nearly $1 billion and jeopardized Boeing. Boeing borrowed heavily to fund the project, totaling almost $2 billion, causing delays and debts. Compared to other aircraft projects, the Boeing 747's $1 billion cost in the 1960s was significant.

The Boeing 747 cost around a billion dollars to build in the 1960s. That was a massive sum back then and represented a major investment for the company. Airliners require an extensive amount of precision to develop and fly, and more often than not, the development of new projects frequently goes massively over budget .

The development of the Boeing 747 was no different, and it was one of the mega projects of its time. A new airliner development project gone wrong can mean the end of the company. Delays, cost overruns, and debt In the early 1960s, engineers from Boeing and Pan Am began working on the preliminary design of the 747.

In 1965, the design was finalized, keeping both the passenger and freight capabilities in mind. At the time, Boeing estimated the development cost of the 747 program to be around $700 million. The estimate included the development of a brand-new factory that could accommodate the double-decker airplane.

Boeing 747 Jumbo Jet Introduction: 1970 Produced: 1968-2023 Number produced (all variants): 1,574 (including prototypes) Boeing 747-8s produced: 155 Primary users today: cargo airlines Boeing faced numerous delays during the testing phase for various r.