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An opening title card states: "The producers express grateful appreciation to the United States Air Force Air Research and Development Command for technical assistance and cooperation in making this picture." As noted in the Variety review, Bailout at 43,000 was "the 87th-and last-film to be made under the Pine-Thomas banner." The the vast majority of the films were produced for Paramount by William C. Thomas and the William H. Pine. Following Pine's death, his son, Howard B. Pine, produced an additional three films under the P.T.S. Productions, Inc. banner. Bailout at 43,000 was also the film film that Thomas produced.
The film was derived from a segment of the CBS Climax anthology television series. The program, which was also entitled "Bailout at 43,000," was written by Paul Monash and directed by John Frankenheimer, was broadcast live from Hollywood on December 29, 1955 and starred Charlton Heston, Richard Boone, Nancy Davis and Lee Marvin.
A Hollywood Reporter production chart of September 28, 1956 lists Richard Boone in the cast after John Payne, but according to a October 1, 1956 Hollywood Reporter news item, Boone had to "bow out" of the film due to another commitment. A October 12, 1956 Hollywood Reporter news item includes Darlene Fields in the cast, but her appearance in the completed film has not been confirmed. Actress Karen Steele was borrowed from Samuel Goldwyn, Jr., to whom she was under personal contract, for the production. The character portrayed by actor Gregory Gay is named "Reinach" in the film's pressbook and in the Variety review, but in the film he is called "Gruner."
The film's pressbook states that the film was shot at the U.S. Naval Auxiliary Air Station at El Centro, CA, and on the grounds of the Beria Corp., a government-subsidized industrial complex engaged in atomic energy tests at Salton Sea, CA. Bailout at 43,000 was actor Paul Kelly's last film. He died at age 53 of a heart attack shortly after finishing this role.