Walt C. Meloon created the Florida Variety Boat Company in 1925. During the early days, the company built a variety of craft ranging from sailboats to powerboats to race boats. By 1936, the primary focus of the company was the construction of power boats and the company name was officially changed to Correct Craft. Despite the Great Depression, the company continued to grow, developing a reputation for building boats of superior quality and excellent performance.

In the early 1940s through 1957, the recreational boat business prospered and Correct Craft operated an additional manufacturing facility in Titusville, Florida, building boats from 18–55 feet. The advent of fiberglass brought new possibilities to the marine industry in the 1960s and Correct Craft worked with an innovative designer named Leo Bentz to bring the fiberglass Ski Nautique to market in 1961.

In the 1970s, Correct Craft produced an array of runabouts, cuddy-cabin and center console models including the Southwind, Martinique, Cuddy Nautique and Fish Nautique. During the 1980s, towed water sports surged and the company’s Ski Nautique 2001 and Barefoot Nautique pulled many tournaments around the world.

In the 1990s, the focus on having no wake suddenly shifted to creating mountains of water behind the boat for kneeboarding and wakeboarding. Correct Craft caught the wave and invented an innovative tower to add even more height to these extreme sports. The patented Flight Control Tower, combined with factory installed ballast tanks, led to the creation of the Air Nautique.

In the 2000's Nautique constructed a new manufacturing plant, located on the outskirts of Central Florida, a 217,000-square-foot (20,200 m2) facility. Nautique also introduced an advanced new saltwater capable package, the Coastal Edition available for select models. Nautique also introduced the innovative Ski Nautique 200, available in open or closed bow.

After more than eight decades of experience and with members of the fourth and fifth generations of the Meloon family active in the business, Correct Craft is the oldest family-owned boat company in the United States.