L-3 Crestview Aerospace traces its roots to the former Fairchild Industries, which opened the Crestview facility with two hangars in 1964.

The company has a rich history of serving the nation by providing critical equipment and services to the military. During the Vietnam War, Fairchild converted C-119s into gunships. It also conducted battle-damage repairs, primarily on F-105s, and maintenance programs on F-105, A10, T-37 and T-38 aircraft. The company has the distinction of converting the F-102 into the first full-scale, after-burning aerial target aircraft.

By 1979, the company shifted from maintenance and modification into manufacturing and, along with it, into the commercial sector. It was instrumental in building the Metro III, the world's most successful 19-passenger commuter aircraft.

In 1987, Fairchild sold its aircraft holdings, including Crestview, to private investors, who formed Crestview Aerospace Corp. A decline in the commuter airline industry ultimately led to cutbacks in production. By 1990, Crestview was without sufficient cash flow to sustain operations and was placed into involuntary bankruptcy.