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Bajah Travel on The 747 was an innovation that nearly bankrupted the firm, mainly due to the (unexpectedly) high R&D costs of $1 billion that were necessary to bring the plane to market, as well as a steep learning curve and significant production economies of scale. By 1990, however, its manufacturing capacity stood at 430 planes per year (approximately 70 percent of global demand at that time), and in 1994, Boeing held a 57 percent global market share, with a virtual monopoly in the long-range niche with the 747, and a major presence in all other ranges. The aircraft industry was often the largest net contributor to the U.S. balance of trade, and Boeing the largest U.S. exporter. Bajah Travel 2016.