That's plane is P-47D 42-75855 5F-A "Tony", the CO's plane from the 5th Emergency Rescue Squadron in the ETO.
What you see mounted on the belly, behind the drop tank, is a flare pack and mounted on the wings are dinghy packs. The 5th ERS planes would take off during bombing missions and loiter over the water (in the Channel or North Sea) and wait in case a call came in of a downed crew in the water. The P-47s would then mark the target with flares, drop the dinghy and loiter until either relieved by another P-47 or rescue boats picked up the downed crew.
