Aerocar, Inc. was founded by Moulton B. "Molt" Taylor to produce the Aerocar aircraft he designed. The company was officially incorporated in 1951 and Taylor received official Civil Aviation Authority (CAA) Type Certificate approval for the Aerocar in 1956. Taylor then began searching for a manufacturer for the Aerocar. A contract was signed in 1961 with Ling-Temco-Vought, but it ultimately fell through. Some examples of the Aerocar were built and used as demonstrator models, but the aircraft never entered production.