Gulfstream G550 airplane model. Gulfstream Aerospace first announced it was studying a stretched ultra-long range corporate transport based on the Gulfstream IV at the annual NBAA convention in October 1989, while the program was officially launched at the 1992 Farnborough Airshow. First flight was on November 28, 1995, with certification and first deliveries planned for late 1996. Provisional FAA certification was awarded in December 1996, full certification was granted in April 1997. The first customer delivery was on July 1, 1997.
Underscoring its high-speed, long-range abilities, by September 1997 the G-V had set no less than 36 world city pair, class time to climb and altitude records.
The Gulfstream V is based on the Gulfstream IV but features a number of substantial changes to suit its different design objectives. The most obvious change is the stretched fuselage, the G-V is 2.49m (8ft 2in) longer overall than the G-IV.