As WW2 drew to a close, American airplane manufacturers eagerly anticipated selling thousands of light planes to returning military veterans. Older companies like Aeronca, Bellanca, Callair, Cessna, Grumman, Interstate, North American Aviation, Piper, Rearwin, Stinston, Waco, etc. all built dozens of airplanes on speculation. A variety of new manufacturers: Erco, Globe, Johnson, etc. started up.
Unfortunately, few returning airmen wanted - or could afford - private airplanes, so the market crashed. Interstate, Johnson, Rearwin, Stinston, Waco, etc. soon closed, while larger manufacturers: Grumman, Lockheed, North American, Republic, etc. abandoned private airplane production to focus on re-arming the USAF for the Cold War.
