At 06:11 on 26 May 1954, while cruising off Narragansett Bay, the fluid in one of her catapults leaked out and was detonated by the flames of a jet, causing the forward part of the flight deck to explode.
A series of secondary explosions occurred, killing 103 crewmen (predominantly senior NCO's) and injuring 201 others.
Bennington proceeded under her own power to Naval Air Station Quonset Point, Rhode Island, to land her injured.
This tragedy caused the Navy to switch from hydraulic catapults to steam catapults for launching aircraft.
 A monument to the sailors who died in this tragic event was erected near the southwest corner of Fort Adams State Park in Newport, Rhode Island, on May 26, 2004.

Moving to New York Naval Shipyard for repairs, she was completely rebuilt from 12 June 1954 – 19 March 1955.
On 22 April, the Secretary of the Navy came aboard and presented medals and letters of commendation to 178 of her crew in recognition of their heroism on 26 May 1954.
As of 1 August 1955, she was part of Carrier Division 2, along with Lake Champlain.
Bennington returned to operations with the United States Atlantic Fleet (including a two-month shake-down cruise to Guantanamo Bay with ATG-201) until departing Mayport, Florida, for the Pacific on 8 September.
She steamed by way of Cape Horn and arrived at San Diego one month later.
The carrier then served with the Pacific Fleet making two Far Eastern cruises.

The 1955–56 air wing was Air Task Group 201, composed of VF-13, flying F9F-6, VA-36 (The US Navy's first operational light jet Attack Squadron) flying F9F-5; VA-105.
flying AD-6, VC (later VFAW)4, flying F2H3, VC (Later VAAW)33, flying AD-5N. This deployment represented the Fleet evaluation of the combination of the angled deck and the mirror landing system, which reduced the US Navy's Carrier Landing Accident rate by 75%.
During 1956 the ship was administratively part of Carrier Division Five, though operationally directed at times by Carrier Division One.

The 1956–57 air wing consisted of one squadron each of the following: FJ3 Fury, F2H Banshee, F9F Cougar fighters, AD-6 Skyraider, AD-5N Skyraider, and AD-5W attack aircraft, AJ2 Savage bombers, and F9F-8P photo reconnaissance planes.
At 06:11 on 26 May 1954, while cruising off Narragansett Bay, the fluid in one of her catapults leaked out and was detonated by the flames of a jet, causing the forward part of the flight deck to explode. A series of secondary explosions occurred, killing 103 crewmen (predominantly senior NCO's) and injuring 201 others. Bennington proceeded under her own power to Naval Air Station Quonset Point, Rhode Island, to land her injured. This tragedy caused the Navy to switch from hydraulic catapults to steam catapults for launching aircraft.  A monument to the sailors who died in this tragic event was erected near the southwest corner of Fort Adams State Park in Newport, Rhode Island, on May 26, 2004.
Moving to New York Naval Shipyard for repairs, she was completely rebuilt from 12 June 1954 – 19 March 1955. On 22 April, the Secretary of the Navy came aboard and presented medals and letters of commendation to 178 of her crew in recognition of their heroism on 26 May 1954. As of 1 August 1955, she was part of Carrier Division 2, along with Lake Champlain. Bennington returned to operations with the United States Atlantic Fleet (including a two-month shake-down cruise to Guantanamo Bay with ATG-201) until departing Mayport, Florida, for the Pacific on 8 September. She steamed by way of Cape Horn and arrived at San Diego one month later. The carrier then served with the Pacific Fleet making two Far Eastern cruises.
The 1955–56 air wing was Air Task Group 201, composed of VF-13, flying F9F-6, VA-36 (The US Navy's first operational light jet Attack Squadron) flying F9F-5; VA-105. flying AD-6, VC (later VFAW)4, flying F2H3, VC (Later VAAW)33, flying AD-5N. This deployment represented the Fleet evaluation of the combination of the angled deck and the mirror landing system, which reduced the US Navy's Carrier Landing Accident rate by 75%. During 1956 the ship was administratively part of Carrier Division Five, though operationally directed at times by Carrier Division One.
The 1956–57 air wing consisted of one squadron each of the following: FJ3 Fury, F2H Banshee, F9F Cougar fighters, AD-6 Skyraider, AD-5N Skyraider, and AD-5W attack aircraft, AJ2 Savage bombers, and F9F-8P photo reconnaissance planes.
USS Bennington (CV-20)