The company was founded in 2006 by two Stanford graduates, aviator Kirk Hawkins and product designer Steen Strand, to develop and certify the ICON A5 amphibious light sport aircraft (LSA).

ICON is known for having brought significant excitement and publicity to the LSA industry since the A5's debut in 2008, although legal, financial and developmental issues, as well as a string of early accidents, have slowed company production and growth since 2016.

Strand's background is in product design, marketing, and finance, and he founded Freebord, a skateboard company.

[9][10] ICON has also acknowledged the possibility of releasing additional models in the future, but maintains that it will focus on the light-sport aircraft market.

Customer deliveries were announced as being delayed until 2017 at the earliest, due to the need to improve the manufacturing processes to build the aircraft design.

[15][16] In May 2017, a factory-owned ICON A5 crashed on the shore of Lake Berryessa in Napa County, California, near the company's training facility.

[17][18][19][20] The National Transportation Safety Board determined that the cause was "the pilot's failure to maintain clearance from terrain while maneuvering at a low altitude."

In a statement, Condit wrote, "I believe strongly that good governance is at the very heart of a trustworthy economic system.

ICON denied the accusation, saying "the plane is loaded with stylistic and safety features that make the plane wholly unsuited for military application" and indicated the move was just an attempt by former CEO Kirk Hawkins to regain control of the company after having invited Chinese investment by PDSTI.

[29][30] Four months later, the firm reported that SG Investment America had completed the purchase of its assets, as well as creating a new entity to manage them.

Its folding wings facilitate transportation and storage,[6] and it will have a range of approximately 300 nautical miles (560 km) and a top speed of 105 knots (120 mph).

[15][36] ICON Aircraft's headquarters are located in Vacaville, California, where all manufacturing, engineering, design, training, sales, and service functions are consolidated.

ICON formerly operated an engineering and manufacturing facility in Tehachapi, California, where the A5 was initially developed and tested.