Ten years later, the manufacturer was acquired by China Aviation Industry General Aircraft (CAIGA), which is a division of the Chinese state-owned AVIC.

[23] By 1984, they founded the Cirrus Design Company and along with spouses Jeff and Sally Viken, started developing the VK-30 as a kit aircraft project in the basement of the Klapmeier family's barn in rural Baraboo, Wisconsin.

[24] After a few years in the design phase, the brothers borrowed money to construct their own hangars on the Baraboo–Wisconsin Dells Airport, where they began flight testing.

[30] In August 2001, Cirrus sold 58% of the company for $100 million to Crescent Capital, the U.S. arm of the First Islamic Investment Bank of Bahrain (now called Arcapita).

[32][24][33][34] In July 2002, the company announced that it would collaborate with the University of North Dakota Aerospace Foundation to provide a new Cirrus Customer Training program.

It cited economic conditions, that the aircraft required development, an expanded flight-training strategy and that the LSA rules were expected to change over time to allow LSAs with a broader mission profile.

Todd Simmons, vice president of marketing, stated: "These are challenging days for Cirrus, but the decision made is in the best interest in the entire company.

"[73] In mid-March 2011, aviation industry analyst Brian Foley indicated that he was trying to organize a group of US investors to make a counter-offer to the Chinese buy-out to keep Cirrus as a US-owned company.

"[75] On 30 March 2011, at the Sun 'n Fun airshow, company co-founder Dale Klapmeier provided reassurances that Chinese ownership would not result in production being moved out of the US.

"[83] On the first anniversary of Chinese government ownership in 2012, company CEO Dale Klapmeier indicated that Cirrus was financially in a much better position and progress was being made with certifying the Vision SF-50 jet.

[84] In July 2013, Cirrus president and COO Pat Waddick indicated that the ongoing Chinese government investment would allow it to continue to develop new models of aircraft with innovative powerplants.

[90][91] In May 2015, Dale Klapmeier announced plans for the company to expand to the McGhee Tyson Airport in Knoxville, Tennessee and establish a customer delivery center there, which officially opened on 12 January 2017 with a focus on aircraft maintenance and support, design personalization, fixed base operations (FBO), flight training and more.

[92][93] On 28 October 2016, Cirrus received FAA type certification for the Vision SF50 very light jet,[16] with deliveries beginning in December of that year in the company's new Duluth aircraft finishing facility.

[101] Since the start of the pandemic, the company has experienced supply chain problems resulting in a backlog of almost 700 SR aircraft (as of March 2022[102]) or nearly two years (as of January 2023[103]).

[107] In June 2023, Cirrus filed an application for an initial public offering (IPO) on the Hong Kong Stock Exchange with the aim of raising around US$300 million for expansion[108] and selling up to 20% of the company.

[109] The company ultimately raised HK$1.4 billion in net proceeds, or about US$180 million, and began trading in Hong Kong on Friday, July 12, 2024.

[4] In February of that year, the company rebranded to highlight its broadened focus from manufacturing to "flight training, product services and support, aircraft management, upgrades and accessories, sales, finance, insurance, and more”, with CEO Zean Nielsen saying, "Cirrus continues its legacy of delivering innovative products and services that make aircraft ownership easy and synonymous with premium car ownership...

[114] On 27 December 2007, the company secured a lease for a hangar formerly owned by Northwest Airlines (who opened the facility in 1996 and closed it in 2005[115]) at Duluth International Airport.

[115] In February 2022, Minnesota's St. Louis County approved plans for the company to expand back into the building (formerly used by AAR Corp. from 2012 to 2020[116]) as it ramps up production,[117] with the city of Duluth selling it to Cirrus in September of that year for just $1 in exchange for 80 additional jobs at an hourly rate of at least $36.05.

[116][118] Cirrus invested US$20M into the facility as its flagship "Innovation Center" to support engineering, design, testing, product development and other technical operations by the company.

[120] On 6 May 2015, Cirrus announced that it will establish a new facility campus called the "Vision Center" in Knoxville, Tennessee on the city's McGhee Tyson Airport.

The facility will focus on all customer interactions and aircraft service including training (with a full level-D flight simulator), maintenance & repair, personalization, and deliveries for both the Vision Jet and SR-series.

[121][122] In May 2019, the company announced that it will open its first factory-direct satellite service facility outside of Knoxville, at McKinney National Airport near Dallas, Texas, where it will expand its flight training, maintenance, and aircraft management operations.

[128] On 1 August 2009, Cirrus Aircraft CEO Brent Wouters announced that Alan Klapmeier's contract as chairman would not be renewed when it expired at the end of that month.

[132][133] On 12 March 2013, early Cirrus employee Patrick Waddick, who originally became hired as an intern by the Klapmeier brothers in 1988 to sweep floors for the company, was named president, adding this to his COO position.

[136][137] On 4 June 2019, Cirrus announced that former Tesla Inc., James Hardie and Bang & Olufsen executive Zean Nielsen has been selected as its next CEO, marking the first time in the company's 35-year history without a Klapmeier at the helm.

[138][139] The Cirrus SR (Single Reciprocating) Series aircraft (including the SRV, SR20, SR22 and SR22T) are produced with "Cirrus Perspective" by Garmin (and previously Avidyne Entegra) integrated digital flight displays and modern avionics as standard equipment since 2008,[140] a first in the light general aviation (GA) manufacturing industry when the Entegra instrument panel became available on the series starting in 2003.

[146][147] Cirrus was the first manufacturer to receive FAA certification for production aircraft with ballistic parachute systems, and remains the only aviation company to implement the device as a standard equipment on all its models.

[148] The Klapmeier brothers decided to make CAPS standard after Alan survived a deadly mid-air collision in 1985, which inspired them to develop a new safety system for future Cirrus models that would give the pilot and passengers a way out in the worst-case scenario.

[153] In June 2021, Garmin won the Collier Trophy for its development of autoland, an award Cirrus had been honored with three years prior for the SF50, as the first certified single-engine civilian jet.