Plain English Meaning
An imaginary 50-foot-tall obstacle the chart pretends is sitting at the end of the runway. The takeoff distance shown is how far it takes the airplane to get off the ground and climb up over that 50-foot mark.
Full Definition
A standard 50-foot obstacle used as the reference height for measuring takeoff distance in aircraft performance charts. Takeoff distance is calculated from the start of the takeoff roll to the point where the aircraft has climbed to 50 feet above the runway surface, simulating clearance over a typical obstacle at the end of the runway.