Became the Wichita State University’s first aeronautical engineering graduate in 1933.
Reorganized the Cessna Aircraft Company which was forced to shut down during the Great Depression. Clyde Cessna (enshrined 1978) was named President while Dwane, at age 23, volunteered as General Manager.
Developed the C-34 Airmaster in 1934 which was soon crowned the world’s most efficient airplane. Wallace often piloted a C-34 in races to boost company fame and sales â and sometimes used winnings to meet the payroll.
Became Cessna Aircraft Company’s President at age 25 and also served as the company salesman and test pilot.
Produced aircraft for both the American and Canadian governments during World War II.
Introduced the FanJet 500, a reasonably priced business aircraft, in 1968. Later renamed the “Citation,” the line would eventually dominate the global market, making Cessna the largest producer of business jets worldwide.
In 1972, the company Wallace had rescued from bankruptcy became the first in the world to manufacture over 100,000 airplanes.