The squadron deployed to France as part of the American Expeditionary Force during World War I and served as a training unit until returning to the US for demobilization.

After a short spell at Étampes (18–23 September), it settled at the Issoudun Aerodrome,[6] participating at the installation of the Third Aviation Instruction Center.

Reaching Bordeaux c. 6 January 1919, the squadron stayed there until 18 March, when it board a transport to bring it back to the United States where it was demobilized.

[8] In August, it received the updated B-25B, that had a much heavier defensive armament, dictated by the results of combat reports coming in from Europe.

It moved to Lexington County Airport, South Carolina, on 9 February 1942 in order to meet the greater threat from German submarines operating off the East Coast.

[3] Planning for a retaliatory bombing raid on Japan began in December 1941, and twenty-four B-25Bs were diverted from the 17th Bombardment Group, which was the only B-25 unit in the Air Corps, and volunteers from its four squadrons, including the 37th, were recruited, the crews being told only that this was a secret and dangerous mission.

Upon completion of training, they left Eglin for McClellan Field, California for final modifications to the B-25s before moving to Naval Air Station Alameda, where the bombers were loaded on the USS Hornet (CV-8) for the raid.

[10] The remainder of the squadron remained in Columbia, flying antisubmarine patrols until 23 June when it moved to Barksdale Field, where it began transitioning into the Martin B-26 Marauder.

[3] In November 1942, the squadron deployed to North Africa, arriving at Telergma Airport, Algeria in December 1942 following Operation Torch's initial landings, becoming part of XII Bomber Command.

The squadron flew interdiction and close air support, missions, bombing bridges, rail lines, marshalling yards, harbors, shipping, gun emplacements, troop concentrations and other enemy targets in Algeria and later Tunisia supporting American and later Allied ground forces as they moved east, contributing to the defeat of Axis forces in Africa by May 1943.

From airfields in Corsica, the 432d supported Allied ground forces during Operation Dragoon, the invasion of southern France in August 1944.

It earned a second Distinguished Unit Citation for bombing attacks on enemy defenses near Schweinfurt, Germany just before the end of the war on 10 April 1945.

It participated in Operation Spring Thaw and starting in March, attacked southbound routes along the East Coast of North Korea.

[3][11] Re-equipped with Martin B-57 Canberra jet bombers and conducted evaluation testing of the aircraft at Eglin Air Force Auxiliary Field No.

Deployed to RAF Sculthorpe, England briefly in 1958 before returning to Eglin and performing more testing on B-66s with Jet Assisted Take Off (JATO) and until being inactivated later in the year.