Hughes establishes the Hughes Aircraft Company, initially focusing on developing custom aircraft and pushing the limits of aviation technology.

Hughes pilots his custom-built H-1 Racer to a new world air speed record of 352 mph (566 km/h), showcasing his engineering and piloting skills. He designs and builds the H-1 Racer specifically for this purpose.

Hughes breaks the record for the fastest circumnavigation of the world in a Lockheed Model 14 Super Electra, completing the journey in 91 hours and 14 minutes. He is celebrated as a national hero. He used the flight to also test new navigation equipment.

Hughes acquires a controlling interest in TWA, marking his entry into the commercial airline industry. He aims to improve the airline's efficiency and competitiveness.

Hughes Aircraft Company secures government contracts to develop and produce military aircraft during World War II. This includes experimental designs that are often plagued by delays and technical challenges.

Hughes pilots the Hughes H-4 Hercules, nicknamed the 'Spruce Goose,' a massive wooden flying boat designed to transport troops across the Atlantic. This becomes the only time it ever flies, amid much scrutiny and controversy over the project's cost and effectiveness. The flight is intended to demonstrate the aircraft's airworthiness.