The Gulfstream brand first appeared in 1957, when Grumman Aircraft Engineering Corp. completed the design for the turboprop-driven Gulfstream I, Grumman's first marketable business aircraft; up until this point Grumman was primarily known for its military aircraft production. The Gulfstream I turboprop, which had its maiden flight on August 14, 1958, was so successful that Grumman developed a turbojet-powered corporate aircraft, the Gulfstream II.
In 1967, Grumman separated its civil and military divisions, and moved the Gulfstream corporate jet operation to Savannah. The new facility, located at the Savannah airport, housed both production and flight testing for the Gulfstream II, with a 100-person workforce. By the end of 1968, employment had grown to over 1,000.
In 1978, Grumman sold the Gulfstream aircraft line and all operations in Savannah to American Jet Industries, headed by Allen Paulson (whose printed signature appears on this piece). Paulson became CEO, and renamed the company Gulfstream American. Paulson pushed heavily for the development of the Gulfstream III, which had its first flight in 1979. The purchase of Rockwell
's Aero Commander program completed the formation of the new Gulfstream Aerospace. The Savannah facility grew to employ 2,500 people by 1982, when the company's name was changed to Gulfstream Aerospace Corporation.
On April 8, 1983, Gulfstream stock was offered publicly for the first time. The company debuted on the Fortune 500 list at No. 417 in 1985, and that same year Chrysler
acquired Gulfstream as part of its drive for diversification. In 1989, however, Paulson teamed up with Forstmann Little & Co. to buy the company back for $825 million.
The company continued to grow throughout the 1990s, signing a five-year contract with NetJets in 1994. In 1995 Gulfstream introduced the Gulfstream V, and two years later, began to produce the Gulfstream IV-SP alongside the Gulfstream V.
In 1999, General Dynamics
made a $5 billion bid for Gulfstream, and the acquisition was approved by the shareholders. In 2001, Gulfstream acquired Galaxy Aerospace and rebranded Galaxy's then-current aircraft model line. The mid-size Astra SPX was named the G100 and the super mid-size Galaxy became the G200. The following year the company rebranded all its products using Arabic numerals: the Gulfstream V became the G550, while the Gulfstream IV was branded G300 and the Gulfstream IV-SP was renamed the G400.
In 2004, Gulfstream was awarded the Collier Trophy for the development of the G550. The G550 is the first civil aircraft to include an Enhanced Vision System (FLIR) as standard equipment. In March of the same year the G350, a short-range version of the G450, was introduced.
In 2005, Gulfstream became the first business-jet manufacturer to offer an in-flight, ultra-high-speed internet connection, dubbed BBML (Broad-Band Multi-Link). In partnership with Lockheed-Martin
and NASA, Gulfstream developed and patented the Quiet Spike, a telescopic nose device to reduce the sonic boom caused by an aircraft breaking the sound barrier.
Close Up of Vignette
Common Stock, specimen, late 1900’sPrinter: Security-Columbian / United States Bank Note Company Dimensions:
8” (h) x 12” (w)State: GA-Georgia Subject Matter: Aviation and Aerospace
| Airplane Manufacturers
| Specimen Pieces Vignette Topic(s): Allegorical Featured
| Allegorical Truth
| Globe Featured
| Aviation Theme
| Airplane Featured
| Astronomy Featured Condition:
No fold lines, punch hole cancels in the signature areas and body, very crisp.