Work began on the drone in 1937 at the Argus-Flugmotorenwerke (Argus aero-engine factory) in Berlin-Reinickendorf. Apart from Argus, two other companies were involved in the production of the As 292: Deutsche Forschungsanstalt für Segelflug () supplied technical assistance with the airframe construction; C. Lorenz Company with the radio-control system.
The drone's development was initiated at the Argus-Flugmotorenwerke (Argus aero-engine factory) in Berlin-Reinickendorf in 1937, involving collaboration between Argus and two other companies: Deutsche Forschungsanstalt für Segelflug () for airframe construction and C. Lorenz Company for the radio-control system.