Plain English Meaning
How much runway your aircraft needs to land and stop, given the conditions on the day. The heavier the aircraft, the hotter the day, the higher the airport, or the more tailwind you have, the more runway you need.
Full Definition
The measurable ability of an aircraft to land safely under given conditions, expressed primarily as the runway distance required to touch down and bring the aircraft to a full stop. Landing performance depends on aircraft weight, airport elevation, air temperature, wind, runway surface and slope, and pilot technique, and is calculated from data published in the aircraft's Pilot's Operating Handbook (POH) or Aircraft Flight Manual ().