Cliff Secord, a struggling stunt pilot in 1938 Los Angeles, dreams of greatness alongside his mechanic and mentor, Peevy. Their lives are upended when Cliff discovers a sleek, experimental rocket-pack hidden in his biplane by fleeing gangsters who stole it from eccentric billionaire Howard Hughes. Motivated by a desire to impress his
aspiring actress girlfriend, Jenny Blake, Cliff secretly repairs the device and takes to the skies, accidentally saving a pilot from a burning crash. Dubbed "The Rocketeer" by the press, Cliff becomes an overnight sensation, unaware that his newfound fame has placed a massive target on his back.The stolen rocket-pack is actually a prototype weapon desired by the Nazi regime, who have dispatched the brooding, Hollywood movie star and secret operative Neville Sinclair to retrieve it. Sinclair uses his romantic past with Jenny to lure her to his opulent estate, where he discovers Cliff is the enigmatic flying man. Armed with this knowledge, Sinclair kidnaps Jenny and blackmails Cliff into handing over the device, desperate to secure the technology to aid the Axis powers before the FBI closes in.Driven by fierce love and desperation, Cliff teams up with Howard Hughes, who confirms the rocket's dangerous flaws—specifically, its tendency to explode if punctured. Knowing the odds are stacked against him, Cliff crafts a makeshift flight suit and infiltrates Sinclair’s private airfield to rescue Jenny. A chaotic confrontation unfolds on the tarmac and eventually spills onto a massive Zeppelin airborne overhead. Cliff outsmarts Sinclair’s heavily armed thugs, utilizing his wits and the volatile nature of the rocket-pack to turn the tide.During the climactic showdown aboard the blazing airship, Jenny manages to fight back against Sinclair, while Cliff confronts
the treacherous actor. Sinclair attempts to escape using the rocket-pack, unaware that Peevy sabotaged the ignition mechanism. As Sinclair takes flight in a desperate bid for freedom, the rocket malfunctions mid-air, causing a catastrophic explosion that consumes the villain and sends him plummeting into the Hollywood Hills.With the Nazi threat neutralized and the stolen technology recovered, Cliff and Jenny share a passionate reunion just as the Zeppelin goes down in flames. Howard Hughes arrives with the FBI to cover up the incident, rewarding Cliff for his bravery and helping him clear his name. Ultimately, Cliff and Jenny embrace their future together, riding off into the sunset with Peevy in tow, leaving their days of desperate stunt flying behind for a life of quiet heroism and enduring romance.