RAF Cosford opened in 1938 as a joint aircraft maintenance, storage and technical training unit. It has remained mainly a training unit to this day. The Fulton Mess barrack block was constructed just before WW2 as the largest single building barrack block in the UK. It is now used for technical training.

Cosford became part of the Defence College of Aeronautical Engineering (DCAE), which was formed on 1 April 2004. Other units located at Cosford include elements of the Defence College of Communications and Information Systems (DCCIS), the Defence School of Photography (DSOP) and the RAF School of Physical Training.

In 1962 the Air Force Board formed a committee, under the chairmanship of Marshal of the Royal Air Force Sir Dermot Boyle, to advise the Board on historical and museum matters. Arising from the committee's deliberations came a recommendation to establish a Royal Air Force Museum. Hendon in London was chosen as the most suitable site for the Museum as it had a long aviation history and, on 15 November 1972, Her Majesty the Queen officially opened the Royal Air Force Museum in London.

Over the following years, however, some 130 aircraft had been acquired for the Museum. Aircraft not on display were held in what were called reserve collections at a number of RAF stations around the country including RAF Cosford. Other than on Battle of Britain Open Days at various RAF stations, these stored aircraft were seldom available for public display.

RAF Cosford was selected as a site to be a branch of the Royal Air Force Museum, and the Aerospace Museum at Cosford was opened on 1 May 1979. Amongst the large collection of military aircraft is a unique collection of research and development aircraft, including one of two existing examples of the TSR2, a multi-role combat aircraft, controversially scrapped by the Wilson Government, and still a point of discussion within the RAF.

There are also collections of missiles and airliners. Exhibits include the only collection of three V bombers (Valiant, Victor and Vulcan) in the same place in the world. Other aircraft were added to the collection from the RAF's Reserve Collections of Historic Aircraft scattered about the Country.

The Aerospace Museum was not Government funded directly but enjoyed rent and rates free accommodation on the Station at Royal Air Force Cosford. The Museum continued to grow until 1995 when forward plans indicated that expenditure would overtake income by 1998 if public facilities were not improved and visitor numbers increased.

Applications were made to the Heritage Lottery Fund, the European Regional Development Fund and an appeal was launched to build a Visitor Centre in which to accommodate first class public facilities and a conference centre.

In addition, an art gallery, a temporary exhibitions gallery and two other subject galleries were built making in all, a total project value of £3.6m and the new project was opened by His Royal Highness The Duke of Gloucester on 21 June 1998.

On 13 May 2002, Marshal of the Royal Air Force Sir Michael Beetham opened a new Conservation Centre named after him. This Centre is the culmination of seven years of planning to move the RAF Museum's Reserve Collection to Stafford and the Conservation Centre to Cosford, from Cardington in Bedfordshire.