A similar trophy, the Gray Owl Award, is also presented to the Naval Flight Officer on continuous active duty in the U.S. Navy or Marine Corps who has held that designation for the longest period of time.
"We suggest that it be determined from official records who, at all times, is the senior aviator in point of service in flying; that a baton or similar token be awarded him, and that, with due ceremony, this symbol be handed on down to the next man with the passing years.
The design from the Chance Vought Aircraft Company (later LTV Corporation, Ling-Temco-Vought) was selected, and the Gray Eagle Award was brought into reality.
While Admiral Brown was the first "active" aviator to receive the Trophy, replicas of the award were presented to all previous holders of the distinction, or their representative, during the ceremony.
In recognition of a clear eye, a stout heart, a steady hand, and a daring defiance of gravity and the law of averages".Names of those who have held the title, either actively or prior to the 1961 ceremony, are inscribed on the trophy's plaque.
Eligibility for the Gray Eagle Award is determined by the official active-duty precedence list for Naval Aviators, on continuous service, not recalled, who has held that designation for the longest period of time.