The opening prologue of Raiden Fighters 2 hints at a plot from this game.

Raiden Fighters 2 indicates that its story takes place four years after the events of this game.

Depending on a particular machine's settings, ships from the earlier Seibu Kaihatsu titles Raiden II and Viper Phase 1 can be chosen.

These two ships (given the names Raiden mk-II and Judge Spear respectively) have different mechanics from the five regular craft, such as different bombs and the ability to use Laser and Missile weapons simultaneously.

The Slave plane is playable, inheriting the bomb and movement speed of the fighter craft they normally accompany.