Before the economic downturn of 2008 put on a damper on any visions of futuristic taxi-like air travel, Cirrus Design was well on their way to becoming one of the most successful small aircraft design companies on the planet.

They're still a popular aircraft manufacturer today, and they're continuing to push toward a future where light aircraft are far more commonplace in the skies.

Cirrus Design is located in Duluth, Minnesota. They're strong employers in a region that desperately needs it. The Northern United States was all but abandoned by auto manufacturers, so the 1,300 people employed by Cirrus are a blessing to the entire community. There are also manufacturing facilities in North Dakota, the Isle of Wight, England, and in Brisbane, Australia.

Cirrus has been around since 1984. The company was founded by Alan and Dale Klapmeier in order to produce the VK-30 small airplane. Alan and Dale first conceived of the VK-30 while in college. They began working on a kit airplane design that would function well and be a big hit with kit enthusiasts. The VK plane first launched in 1989, but only 13 were built.

The VK-30 wasn't necessarily as popular as the brothers wanted it to be, but it did open the doors for bigger projects that the company would start working on. Cirrus began by taking a long-thought idea and realizing it in their aircraft. They installed a ballistic parachute system on the back of their planes.

The Cirrus SR series plans, featuring the SRV, SR20 and SR22, are all equipped with the parachute – called (CAPS) Cirrus Airframe Parachute System. In an emergency, unless something catastrophic happens to the airplane while in the air, the parachute will deploy and allow the plane to descend safety to the ground.

NASA worked with Cirrus to develop a wing system that would allow the airplanes equipped with the parachute to gently glide back to Earth instead of spinning out of control. The FAA approved the system and now all Cirrus-developed aircraft plan on carrying the life-saving system.

Cirrus Design was doing well throughout the 1990s. However, in August of 2001, Crescent Capital stepped up with a lucrative offer. They paid an estimated $100 million for a 58% share of Cirrus Design. Crescent Capital is the United States' branch of the First Islamic Investment Bank of Bahrain – Arcapita today. Arcapita is looking to sell their shares to date.

The most popular planes produced by Cirrus Design are the SR Series. The SR (Single Reciprocating) Series is very unique in that, in place of vacuum systems, only electronics are used. The controls of the aircraft are also different and more suitable to comfortable flying. Instead of the traditional steering device, a single side yoke is used.

SR Series' jets are extremely lightweight due to their composite construction and minimalist approach in avionic equipment. Although there are some management disputes, Cirrus plans to work on a sport model jet, the Cirrus SR Sport, and other projects in the future.