The Heinkel He 112 was the main competitor to the Bf 109 in the race to become the Luftwaffe’s primary production fighter. Despite successful trials in Spain, where He 112 pilots supported the Nationalists as part of the Condor Legion, the Bf 109 ultimately took the lead — primarily because Messerschmitt’s design was cheaper and simpler to produce. Although the Heinkel was aerodynamically superior and only required a new engine to reach its full potential, the Bf 109 entered production first, and all new engines were reserved for it. As a result, the He 112 was effectively “put on the back burner.” However, Ernst Heinkel continued to refine his creation, and eventually several aircraft were exported to Romania and Hungary. The plane also attracted Japanese interest, and four units were sent to Japan for testing. Only the Romanian He 112s saw active combat, but due to their use primarily as ground-attack aircraft, their effectiveness was low and losses were high.

The V-5 version was prepared as an export model, and in 1937–1938 it was demonstrated to delegations from Austria, Hungary, Spain, Romania, Yugoslavia, and Japan. It was the most advanced variant in the prototype line. The following “B” series featured a radically redesigned airframe and bore little resemblance to the earlier machines.

The He 112 V-5 has been in the game since the start of the Open Beta Test prior to Update 1.27. It is a good, manoeuvrable, low-altitude fighter. Against the numerous biplanes encountered at these battle ratings, it can excel using its speed advantage — the aircraft has a very high flutter threshold and retains energy well. Against monoplanes, the He 112 V-5 also performs well thanks to its excellent horizontal manoeuvrability. Its main drawbacks are high vulnerability to damage and modest armament.