Aces: Iron Eagle III is a 1992 aviation action film directed by John Glen and written by Kevin Alyn Elders. It serves as the second sequel to the 1986 film Iron Eagle and is the third installment in the four-film Iron Eagle franchise.
The film features Louis Gossett Jr. returning to his role as Charles "Chappy" Sinclair. The plot follows Sinclair as he investigates the murder of a friend, leading him to uncover a drug-smuggling operation in Peru run by a former Nazi officer. To dismantle the operation, Sinclair enlists the help of three veteran pilots from different international backgrounds: Anna (Rachel McLish), a Peruvian villager; Horikoshi (Sonny Chiba), a Japanese pilot; Leichman (Horst Buchholz), a German pilot; and Palmer (Christopher Cazenove), a British pilot. The group utilizes vintage World War II-era aircraft to conduct their mission.
The production was distributed by New Line Cinema and received a limited theatrical release in the United States on June 12, 1992. The film is noted for its use of practical aerial stunts and the participation of several well-known international actors. It was followed by a final installment, Iron Eagle on the Attack, in 1995.