Started in 2004, originally named Corvus Aircraft Ltd and based in Ballószög, Hungary,[1][2] the company consisted of five employees including Managing Director Tamás Gecse and Chief Engineer Andras Voloscsuk.

[3] The company developed the Corvus Corone Mk 1 aircraft.

[4] Corvus Aircraft began development of the ultralight Corvus Corone MK II in 2006 and had its first company presence at EAA AirVenture Oshkosh airshow in Oshkosh, Wisconsin, USA.

[4] Corvus Aircraft also signed a contract with Red Bull for developing a new airplane, the Corvus Racer 540, for Péter Besenyei designed especially for air racing.

[6] In 2012 the company established a joint venture, called Corvus Aerospace (Suzhou) in Suzhou, China, to manufacturer parts and develop the Corvus Racer 312, a smaller version of the Corvus Racer 540 for the European microlight and American light sport aircraft categories.