Abstract Selection of flow stress models and fracture models to model sheet deformation at high strain rates is of great concern. The same is attempted in the present work during shock tube impact forming of 1-mm-thick AA 5052-H32 sheet using a rigid nylon striker. Lab scale experiments and finite element simulations using DEFORM 3D are conducted for the purpose. Johnson–Cook flow stress model and Modified Johnson–Cook flow stress model along with fracture models like normalized Cockcroft and Latham model, Rice and Tracey model, Oyane model, and McClintock model are tested for their accuracy and consistency. The fracture strain and fracture pattern evaluation suggest that the modified Johnson–Cook flow stress model and Rice and Tracey fracture model are suitable for fracture prediction, and it is better to use these together for fracture evaluation. An alternate method of evaluating rate-dependent tensile properties of sheet at higher strain rates is proposed and delivered acceptable fracture prediction results. Finite element simulations using Hollomon power law predict a strain rate of 1925/s at a striker velocity of 49.79 m/s, which is in the range of values in literature for explosive forming. Systematic shock tube forming experiments for calibrating the fracture models are acceptable.