Plain English Meaning
Engines that swing or tilt on the aircraft so their thrust can be aimed downward for takeoff, gradually angled forward for the change to normal flight, and pointed straight back for cruising.
Full Definition
Aircraft engines that can be rotated relative to the airframe to redirect their thrust in different directions, allowing the same engines to provide vertical lift, transitional thrust, or forward propulsion depending on their angle.
Context Anchor
Seen in discussions of thrust on aircraft that can take off or land in very short distances, or lift off nearly straight up.
Derivation
Pivot comes from the Old French pivot, meaning a fixed around which something . Calling these engines pivoting tells you the engine itself around a mounting point, rather than the thrust being deflected by a separate or vane.