Mooney was a self-taught aircraft designer and the founder in 1929 of the Mooney Aircraft Company (now known as Mooney International Corporation) of Kerrville, Texas. One of his designs, the M-18 Mite, was the first new single-seat, retractable gear general aviation aircraft available on the market after World War II. Current Mooney aircraft, which hold numerous general aviation speed records, owe much to his original designs. Mooney was also responsible for several advances in the field of aircraft design while chief engineer for the Alexander Company, including his design of the Bullet, a low-wing, high speed aircraft with a patented retractable landing gear. He also spent time as a designer for Bellanca Aircraft Company, Culver Aircraft and the Monocoupe Corporation. After Mooney Aircraft was sold in 1955, Mooney finished his career with Lockheed where his aircraft designs eventually became the Lockheed JetStar, one of the first successful corporate jets.