Vought was sold from LTV and owned in various degrees by the Carlyle Group and Northrop Grumman in the early 1990s.

It was then fully bought by Carlyle, renamed Vought Aircraft Industries, with headquarters in Dallas, Texas.

In 1928, the company was acquired by the United Aircraft and Transport Corporation, but stayed its own separate division among the lines of Pratt & Whitney and Boeing.

Chief engineer Rex Beisel began in 1938 to develop the XF4U, recognized by its distinctive inverted gull wings.

The move was pushed by the Navy, who believed that having both of its main aircraft suppliers on the East Coast was an unnecessary risk.

The same basic design was later heavily revised and shortened to produce Vought's A-7 Corsair II, a carrier-borne close-air-support and attack plane.

Entering service in 1965, the Corsair II was heavily engaged in a close support and strike missions during the Vietnam War, beginning in 1967.

The A-7 served in limited numbers with three foreign air forces, including Greece (A-7H/TA-7H), Portugal (A-7P/TA-7P) and Thailand (ex-USN A-7E/TA-7E).

In 1992, LTV sold Vought to Northrop and the Carlyle Group, each owning roughly half of the company.

In 2000, Carlyle Group established Vought Aircraft Industries, Inc.[clarification needed] It is primarily an aerostructures subcontractor.