Company WASP Aircraft Ltd is developing tilt rotor aircraft with unique propulsion system based on jet thrust of the rotor (tip jet technology). Aircraft WASP-500 takes off and lands vertically like a helicopter, and in-flight rotor goes into horizontal position and the aircraft flies on wings like an airplane (transformation is similar to Boeing/Bell Osprey and AW609 by Alenia Aeronautica). The WASP Aircraft tilt rotor aircraft can compete on the helicopter and airplane markets, as well as in the market of heavy (payload over 100 kg) drones for cargo transportation, exceeding them due to its unique capabilities: • payload - 300 kg, MTOW – 500 kg • VTOL, cruising speed of 470 km/h • flight range of more than 2,000 km • use of eco-friendly fuel - LPG (propane-butane) • has manned and unmanned versions. The aircraft has a moderate manufacturing costs and low maintenance costs due to absence of complex rotor shafts and drivers.