Battle of Midway is one of the main reasons why Japan not only lost its power to challenge US Navy but also the skilled pilots of Zero.The Zero was definitely an awesome design but it also had glaring weaknesses. It was fragile and flammable, the machine guns were ineffectual while the cannons, especially the early models, had limited ammo and low rate of fire and velocity so only the most skilled pilots could hit opposing fighters. The most glaring weakness though was the fact that the ailerons stiffened up at high speed to the point where they were nearly ineffectual at speeds over @300mph. American fighters were actually more maneuverable, especially in rate of roll, at high speeds and once they figured that out even the P-40 and F4F had very good kill ratios against the Zero.
The main reason for it's early success against American fighters was the skill of Japanese pilots compared to Americans at the beginning of the war. Plus, as the aggressor, the Japanese took advantage of greater preparation and the shock of American forces. Once USA got over the initial shock and took advantage of their greater manpower, production capacity, and logistical superiority the Japanese never had a chance. Keep in mind; the Japanese never produced a more modern carrier fighter and the later land-based fighters were only produced in limited number, suffered from production problems that meant few could achieve their design goals, and there were virtually no experienced pilots left to take advantage of the better performing planes.
That was pretty much it. Japan went into Midway on June 4th 1942 with 4 of its 6 mighty carriers that 6 months earlier, had pummeled Pearl Harbor. They operated 248 aircraft from their best A6m Zero pilots that were essentially tasked as protecting fighters and Val & Kate torpedo bombers. Even if luck played a small percentage in the US' victory in the battle, it was credit to the US pilots who flew the great Douglas SBD-3 Dauntless dive bombers that destroyed all 4 carriers in a remarkably short period.Battle of Midway is one of the main reasons why Japan not only lost its power to challenge US Navy but also the skilled pilots of Zero.