The Model 38P (Pressurized) (also known as the model PD.336) was created by installing a Garrett AiResearch TPE-331-9 engine in the nose of a Beechcraft Baron 58P fuselage, which was mated to a Beechcraft B36TC Bonanza wing in place of the Baron's wing with two engines.

[2] After 133 flights over almost 18 months the aircraft was temporarily grounded so that the TPE331 could be removed and a Pratt & Whitney Canada PT6A-40 engine fitted in its place.

[2] The aircraft flew in this configuration for the first time on March 9, 1984 and the last flight was on August 8 the same year.

[2] Beechcraft originally planned to put the Lightning into production but the economic downturn among general aviation manufacturers in the United States in the 1980s led to the project being shelved[3] shortly after the first flight with PT6A power.

[2] Several Model 38Ps were pre sold to customers by the Beechcraft dealer network, but the purchase deposits collected were returned when the decision was made not to produce the aircraft.