Introduced in 1964, it was Learjet's first model and created a new market for fast and efficient small business aircraft.

Recognizing the potential of the Swiss-designed single-engine ground-attack FFA P-16 fighter jet, William (Bill) Powell Lear, Sr. established Swiss American Aviation Corporation (SAAC) to produce a two-engined passenger version: the SAAC-23 Execujet.

The company moved to Wichita, Kansas and was renamed Lear Jet Corporation.

The first flight took place on 7 October 1963 with test pilots Hank Beaird and Bob Hagen.

[4] In 2013, the FAA modified 14 CFR part 91 rules to prohibit the operation of jets weighing 75,000 pounds or less that are not stage 3 noise compliant after 31 December 2015.