While the aircraft it builds is a longstanding design, WACO Classic Aircraft has upgraded many systems, such as the brakes, to newer and safer technology. They are built with much of the original hand construction methods and are sought after as a classical open-cockpit aircraft, but with modern digital electronics. To date, Waco Classic only offers one of several models of Wacos that were built. Over 100 new YMF-5C aircraft had been completed by 2007.
In June 2009 the company announced the improved YMF-5D version, powered by a Jacobs R-755-A2 300 hp (224 kW) engine. The type was to be type certified in October 2009 and features a new MT-Propeller, a deluxe leather interior, new lightweight carbon fiber wheel pants and fairings, an upgraded avionics package and a cup holder.
In January 2011 the company announced that it would put the Great Lakes Model 2T-1A-1/2 biplane back into production. The aircraft had not been available since 1980. The aircraft will incorporate several changes including a larger cockpit and advanced avionics. At the time it was announced the aircraft was forecast to be shown at Sun 'n Fun in 2011, production commenced in the summer of 2011 and deliveries were initially expected early in 2012. It will be offered in two models, the Touring model with a Lycoming IO-360-B1F6 and a Sport model with the Lycoming AEIO-360-B1F6 engine. In May 2012 the company announced that the first production Great Lakes was being constructed and it was completed in June 2013.