[4] The airport has a Class 1 Federal Aviation Regulation (FAR) Part 139 operating certificate allowing passenger airline flights.

Annually, around March–April, the airport hosts the Sun 'n Fun Aerospace Expo, a six-day fly-in, airshow and aviation convention.

The U.S. Army Corps of Engineers improved the three existing runways and built a training facility for bombers and fighters.

After the war ended, the Army Airfield was left unused due to the size of the facility far exceeding the needs of the city as well as the costs involved of converting it to civil use.

Drane Field had deteriorated and languished underutilized for many years following the departure of the U.S. Army Air Forces in 1945.

[7] In 2021 the airport had 128,576 aircraft operations, averaging 352 per day: 92% general aviation, 2% military, 1% air taxi, and 6% airline.

[9] From 2006 to 2008 the airport had limited air service under FAR Part 135 (AirTaxi) provided by DayJet utilizing Eclipse 500 very light jet (VLJ) aircraft.

Scheduled airline flights returned to the airport in June 2011, when Direct Air flying Boeing 737s began service to Myrtle Beach, SC; Niagara Falls, NY, and Springfield, IL.

On July 23, 2020, Amazon Air commenced operations following the opening of a brand new 285,000 square foot cargo processing facility.

On December 18, 2023, the airport announced that Avelo Airlines will commence commercial flights from Lakeland Linder beginning in Spring, 2024.

On July 24, 2024, Avelo announced flights to 7 additional destinations from Lakeland, as well as plans to make the airport an operating base.

The National Oceanic and Atmospheric Administration′s (NOAA) Aircraft Operations Center (AOC) relocated to Lakeland from MacDill Air Force Base in June 2017.

Draken provides training support to the US Military with their fleet of privately owned tactical aircraft, which includes Douglas A-4 Skyhawk, General Dynamics F-16, Mikoyan-Gurevich MiG-21, Aermacchi MB-339, Aero L-39 Albatros, and Dassault Mirage F1, the Atlas Cheetah, and the Aero L-159 Alca aircraft.

The company also recently entered a partnership with Sun 'n Fun with a percentage of their fuel sales supporting aviation education.

From the 1970s until 2001, the airfield was a joint civil-military facility when it hosted Army Aviation Support Facility #2 of the Florida Army National Guard, operating since-retired UH-1 Huey helicopters, followed by the locally based UH-60L Blackhawk helicopters of Detachment D, 171st Aviation Battalion (TA).

The airport's principal fixed-base operator (FBO) also continues to provide DoD contract jet fuel services for transient military aircraft.

Runway 10/28, its associated taxiway system, and the current airport terminal ramp area can accommodate up to Boeing 747 and 777 aircraft.

This new lodging accommodates the expansion of nearby corporate parks, distribution centers, and the increasing capacity of the airport facilities.

The restaurant, Waco Kitchen, which is based out of Battle Creek, Michigan is considered “farm to table,” meaning that the ingredients served are locally sourced.