In 1934 he designed a universal radio amplifier. The Radio Corporation of America purchased the plans, giving Lear the capital he needed to expand his operations. He founded the Lear Avia Corporation in 1934 to make radio and navigational devices for aircraft.
In 1939 he founded Lear, Inc. By 1939 more than half the private airplanes in the United States were using Lear radio and navigational equipment. In World War II, the company manufactured cowl-flap motors and other precision devices for Allied aircraft. After World War II, Lear, Inc. introduced a new, miniaturized autopilot that could be used on small fighter aircraft.
Between 1950 and 1962 the sales of Lear, Inc., rose to $90,000,000. New plants were added in the Midwest and on both coasts, and the company embarked on the manufacture of stereophonic sound systems and miniature communications satellites.
Lear himself wanted to expand into low-priced, small jet aircraft for businessmen. When his board of directors would not approve the expenditure, Lear sold his share of the company and formed Lear Jet, Inc., which produced its first compact jet in 1963. The new company’s jets became among the world’s most popular private jet aircraft.
|