The video shows the airplane striking each other at a low elevation, breaking one of the airplanes down the middle. A fireball should be visible as it stirs things up around town.
The planes - one of them a Boeing B-17 Flying Fort - were partaking in a memorial aviation expo close to Dallas.
It was not quickly clear the number of individuals that were in the two airplanes, or on the other hand, assuming anybody made due.
The Government Flight Organization said it will examine the accident at the Wings Over Dallas Airshow on Saturday, which depicts itself as the US's debut WW2 airshow.
The three-day occasion was being held to pay tribute to Veterans Day, which was on Friday.
Dallas City chairman Eric Johnson considered it a "horrible misfortune".
"The recordings are tragic," he tweeted. "If it's not too much trouble, say a request for the spirits who took to the sky to engage and instruct our families today."
The number of setbacks is not yet affirmed, he said, yet included that no one on the ground had been accounted for harmed.
The occasion's site expresses that a few planes had been booked to do a flyover show on Saturday.
The B-17 plane assumed a significant part in winning the air battle against Germany in WW2.
The subsequent plane, a P-63 Kingcobra, was a contender airplane utilized in a similar conflict, however, utilized in battle simply by the Soviet Flying corps.