The FP-303 was designed by Fisher Aircraft in the United States in 1982 and was intended to meet the requirements of the US FAR 103 Ultralight Vehicles category, including that category's maximum 2540NaN0 empty weight. The design goal was to provide ultralight pilots with an aircraft that was as portable as possible. To this end the aircraft's wings fold along the fuselage to rest on the horizontal stabilizer allowing trailering or storage in a small hangar or with other aircraft. The aircraft can be field assembled from its travelling state in ten minutes. The FP-303 has a standard empty weight of 2350NaN0 when equipped with a two-stroke 280NaN0 Rotax 277 engine.
The construction of the FP-303 is similar to the Fisher FP-202 Koala. The aircraft's structure is entirely made from wood, with the wooden fuselage built from wood strips arranged in a geodesic form, resulting in a very strong and light aircraft with redundant load paths. Both the wings and fuselage are covered with doped aircraft fabric. The wings are strut-braced underneath to the landing gear and utilize bottom jury struts. The wing is positioned aft enough that the pilot has adequate downward visibility. Flaps and brakes are optional. The company claims it takes an amateur builder between 300–500 hours to build the FP-303.
