John Deere: World’s Largest Agricultural Tractor Company in 2019
Deere and Company is a leading tractor and heavy equipment company with well-known brands i.e. “John Deere”. This company comes from Moline, Illinois, United States. In 2020, according to the Fortune 500 ranking, Deere and Company is the largest producer and marketer of agricultural heavy equipment in the world based on sales and profit at that time from Its Annual Report. According to the company’s 2019 revenue performance, this company stands in 84th position in the world between 500 world’s largest companies. In 2019, based on data from the annual report published by the company, the company’s total revenue reached 39 billion US dollars and the earned profit was 3.2 billion US dollars.
Table of Financial Structure and Performance of Deere and Company in 2019
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Source : Annual Report, 2019
To become a prominent heavy equipment player in agriculture, it takes a long and winding process and struggle. Historically, John Deere found this company. His job is a blacksmith in 1837. He was originally only making plows for agricultural tractors and at 1848, he formed a business partnership and moved to the Moline region, Illinois. From time to time, he had experienced in ups and downs of its business related to problems with his business partners, but this company could survive.
In 1863, the company introduced its first innovative conventional plow, the Hawkeye Riding Cultivator. All plowing tools at that time utilize the horses as a power. In 1864, the company obtained its first patent regarding a mold for the manufacture of steel plows. This company ended up making a lot of innovations with agricultural tractors. Many inventions and breakthroughs were created and marketed such as The Gilpin Sulky Plow, which he produced and were able to beat plow products from other companies and this product is able to win 1,000 Francs prizes related to the innovations.
Along with the development of time and influence of the industrial revolution, many tractors used oil fuel as a power. In response to the dynamics that happened, this company later bought the engine tractor company Waterloo Gasoline Engine Company and then developed an engine-based tractor business unit. Until now, various types of machine tractors for agricultural activities have been produced, ranging from tillage tractors, planting, plant treatment, harvesting tractors. These various tractors are certainly able to increase efficiency and effectiveness in agricultural activities. Here are some types of tractors from the breakthrough of Deere and Company i.e.
- Tillage (Cultivator, tandem disk, seedbed finisher, Rotary Tiller, and other types)
- Planting Tractor (Row Crop tractor, air seeding equipment, drawn planter)
- Management Tractor (Fertilizer spreader, Manure spreader, and Sprayer)
- Tractors for Harvesting (Cotton Harvesting, Sugarcane harvesting, Corn and wheat harvesting)
Until 2019, this company has become one of the world’s largest companies and In the Fortune 500 ranking of companies in 2020, the company is place 84th from all ranked company. The company’s assets reach 33 billion US Dollars with the profit generated in 2019 reaching 3.2 billion US Dollars. The product of Deere Can be found in many countries in the world but the main market still the American and Europe .
Fortune 500. Retrieved from https://fortune.com/fortune500/2020/search/?f500_revenues=desc
Deere.2020. Deere Annual report 2019. Retrieved from https://investor.deere.com/home/