What is the significance of the Battle of the Coral Sea?

The Battle of Coral Sea
was fought in May 1942 duringbetween the Japanese and Allied forces of Americans and
Australians. The four-day fight was the first air-sea battle in history, as it involved
launching aircraft from carriers at sea. 

The battle started when the
Japanese attempted to make an amphibious landing at Port Moresby in New Guinea and to thereby
gain control of the Coral Sea. Allied interception of Japanese messages had led to their advance
knowledge of the Japanese attack, and American aircraft carriers and other ships under the
command of Rear Admiral Frank J. Fletcher were waiting for the Japanese. The Japanese also had
aircraft carriers in the area, under the control of Vice Admiral Takagi Takao. The carriers of
both sides were damaged during the fight, but the battle was an Allied victory, as the Japanese
were then left without air cover for their ground assault on Port Moresby. They turned back in
defeat. 

The battle was also important because it left Japanese forces
diminished for the Battle of Midway, which occurred a month later and which resulted in an
Allied victory. The Battle of Midway is regarded as the turning point in the war in the Pacific
and the beginning of the path towards Allied victory in the region.