In recent years Gulfstream, part of the General Dynamics company, has built and marketed a range of executive jets to meet customer demands and has brought examples of the various models to Australasia on demonstration tours.

After the success of the MU-2 series, Mitsubishi decided to proceed further into the world of light executive transports and designed the MU-300 Diamond, two prototypes of which were built, the first flying on 29 August 1978.