Lancair 320/360 / Legacy / IV-P / Evolution

Lancair (founded 1985 by Lance Neibauer in Redmond, Oregon) produced some of the fastest piston homebuilt aircraft ever designed. The Lancair IV-P cruises at 291 KTAS — faster than most certified turboprops — from a 350HP piston engine in a sleek composite airframe. The Lancair Evolution takes this further with a PT6 turboprop producing 300 KTAS at FL280.

The Lancair product line spans from modest two-seat speedsters (235/320/360) to pressurized four-seat cross-country machines (IV-P, Evolution) that blur the line between homebuilt and high-performance certified aircraft. Total Lancair production across all models exceeds 2,000 kits sold, with approximately 1,000+ completed and flying.

Safety warning: Lancair aircraft, particularly the IV-P, have a disproportionately high fatal accident rate. The FAA has noted that Lancairs represent approximately 3% of the amateur-built fleet but account for over 10% of fatal amateur-built accidents. Approximately 40% of Lancair IV accidents result in fatalities — nearly double the rate for the overall homebuilt fleet. The high wing loading, high approach speeds (62+ KIAS stall), and demanding handling characteristics require extensive training and currency. This is not a forgiving airplane.

Production status: The Lancair 320/360 kits are discontinued. The IV-P kit production ended in 2012. The Evolution was produced by Evolution Aircraft through 2017. Lancair International continues parts and builder support.

Two-Seat Models (low-wing, composite, retractable):

Four-Seat Models (low-wing, composite, retractable, pressurized option):

The Lancair 320 is a speed demon for its power class — 210 KTAS on just 160HP with retractable gear, representing extraordinary aerodynamic efficiency. The IV-P and Evolution represent the pinnacle of homebuilt performance, competing with certified pressurized singles costing 2-3x more.

Lancair 320 (O-320, 160HP): 210 KTAS cruise on 8 GPH — the best speed-per-HP of any homebuilt. The retractable gear, smooth composite surfaces, and efficient airfoil produce speeds that match 200HP Van's RVs on 40HP less. 1,260 nm range (no reserve) from 43 gallons is extraordinary. Stall at 55 KIAS reflects the high wing loading.

Lancair IV-P (TSIO-550, 350HP): 291 KTAS at FL240 on 18 GPH. The twin-turbocharged Continental maintains sea-level power to high altitude, where the thin air allows extraordinary true airspeeds. The 3,000 FPM climb rate gets to altitude quickly. With 90 gallons (110 with extended tanks), range exceeds 1,090 nm at cruise with reserves. Pressurization allows comfortable FL240 operations.

Lancair Evolution (PT6A, 750HP): 300 KTAS at FL280, pressurized cabin, and Jet-A fuel. This is a homebuilt that performs like a Pilatus PC-12 at a fraction of the price. Range of 1,027 nm from 168 gallons. The 4,000 FPM climb rate is turboprop territory.

The performance comes with risk: High wing loading means stall speeds of 62-72 KIAS — well above training aircraft. Approach speeds of 80-90 KIAS require precise technique. The composite construction provides clean lines but also means accident survivability is lower than metal aircraft in crash scenarios.

Lancair IV-P (TSIO-550, 350HP, 90 gal fuel):

Lancair 320 (O-320, 160HP, 43 gal fuel):

The Lancair IV-P's 1,350 lbs useful load and 90-gallon fuel capacity enable true long-range four-seat travel. Four 180-lb adults with 90 lbs total baggage and full fuel — 1,090 nm range at 291 KTAS. This means coast-to-coast in two legs, arriving in half the time of most GA aircraft. With extended tanks (110 gal), two occupants can fly 1,350 nm nonstop — New York to Denver without stopping. The Lancair 320 trades seats for efficiency — two people with full fuel and 1,000 nm range from 43 gallons at 210 KTAS on 8 GPH.

• Flight Training (1): Completely inappropriate. High wing loading, demanding handling, expensive to operate. Multiple fatal accidents have involved pilots transitioning to Lancair from slower aircraft.
• Backcountry (1): Low wing, retractable gear, high stall speed. The opposite of a backcountry aircraft.
• Business Travel (8): The IV-P and Evolution are legitimate business travel machines. 291 KTAS (IV-P) or 300 KTAS (Evolution) with pressurized cabins and four seats. Experimental category prevents commercial charter use, but owner-flown business travel is the primary mission.
• Aerobatics (1): Not aerobatic. The composite structure and design are optimized for high-speed cruise, not aerobatic loads.
• Cross-Country (10): THE Lancair mission. Nothing in the homebuilt world matches the Lancair IV-P for speed and range — 291 KTAS with 1,090 nm range, pressurized to FL240. The Evolution extends this to 300 KTAS and FL280. These aircraft routinely complete 1,000+ nm legs nonstop.
• Cargo Hauling (3): The IV-P has 1,350 lbs useful load, but the low-wing retractable configuration isn't designed for cargo loading.
• Local Fun Flying (5): Fast and smooth, but the demanding handling and high operating cost make it more serious than fun. The two-seat 320/360 is more practical for fun flying.
• Surveying (1): Low wing, high speed minimum, retractable gear. Not applicable.

• Lancair 320/360: Varied — some basic VFR, some well-equipped IFR. Smaller panel limits options.
• Legacy: Typically well-equipped with glass panels for the speed range. Garmin G3X or Dynon SkyView common.
• IV-P: Full glass panels are standard for the mission. Dual G3X Touch screens, GTN 750Xi, GFC 500 autopilot, weather radar capability. $25,000-$40,000 for avionics. Oxygen system standard for pressurized operations.
• Evolution (turbine): The most sophisticated avionics in homebuilt aviation. Garmin G3X or G500/G600 PFD/MFD, GTN 750Xi, GFC 500, weather radar, satellite weather. Many Evolutions have $50,000+ in avionics. Turbine operations at FL280 demand full IFR capability.

Experimental amateur-built — no STCs required.

• Engine upgrades: Some IV-P owners have converted from TSIO-550 to turboprop (Walter M601E or PT6). This is the ultimate Lancair modification — $150,000-$250,000 for the conversion but transforms performance.
• Extended fuel tanks: IV-P from 90 to 110 gallons. Extends range significantly.
• Oxygen systems: Built-in oxygen for pressurized models; supplemental for unpressurized.
• Speed modifications: Wheel fairings, gap seals, and surface polishing on two-seat models.

• Condition inspection: $1,500-$3,000/year (two-seat). $2,500-$5,000/year (IV-P, Evolution). Complex systems increase inspection scope.
• Engine overhaul: $25,000 for IO-360 (Legacy). $45,000 for TSIO-550 (IV-P) at 1,800-hour TBO. PT6 hot section $100,000+ at 3,500 hours.
• Turbocharger (IV-P): $4,000-$8,000 per turbo replacement.
• Parts availability: Fair. Lancair International maintains support but is a small operation. Composite airframe parts may require custom fabrication. Continental and Lycoming engine parts are available through standard channels.
• Mechanic familiarity: Specialist. Composite construction, retractable gear, turbocharging, and pressurization require experienced shops. Not every A&P can work on a Lancair IV-P.
• Annual all-in cost: $15,000-$25,000 (two-seat). $25,000-$40,000 (IV-P). $40,000-$60,000 (Evolution turbine).
• Operating cost: $80-$120/hour (two-seat). $150-$220/hour (IV-P). $250-$400/hour (Evolution turbine).

• Lancair 235 (O-235, 118HP): $40,000-$70,000. Rare; collector interest.
• Lancair 320/360 (O-320/O-360, 160-180HP): $70,000-$140,000. Retractable; composite condition critical.
• Lancair Legacy/Legacy RG (IO-360/IO-390): $150,000-$375,000. Premium two-seat high-performance.
• Lancair IV (unpressurized, TSIO-550): $200,000-$300,000.
• Lancair IV-P (pressurized, TSIO-550): $250,000-$375,000. Pressurization commands premium.
• Lancair Evolution (piston): Extremely rare (1 built). Pricing by negotiation.
• Lancair Evolution (turbine, PT6): $500,000-$1,350,000. The ultimate homebuilt. Engine condition and total time are primary factors.

Per valuation-methodology: Build quality is critical — even more so for Lancair than typical homebuilts due to the composite construction and high-performance envelope. Engine time matters enormously: TSIO-550 overhaul at $45,000, PT6 hot section at $100,000+. Avionics are a major value component on IV-P and Evolution. Pressurization system condition (IV-P) affects value. The Lancair IV-P's accident reputation depresses values somewhat relative to raw performance — informed buyers factor in higher insurance and training costs.

No ADs (experimental category).

Common Problems:

• FATAL ACCIDENT RATE: The most serious concern. Loss of control on approach and departure accounts for a disproportionate share of fatal Lancair accidents. High wing loading, high stall speed, and demanding handling characteristics are contributing factors. Angle of attack indicator installation and extensive transition training are strongly recommended.
• Composite construction quality: Build quality varies dramatically. Composite layup defects (voids, delamination, inadequate fiber orientation) can be hidden and catastrophic. Pre-buy inspection by a composite-experienced A&P is essential.
• Landing gear (retractable): The Lancair retractable gear system requires careful maintenance. Gear-up landings and gear collapse are documented accident causes.
• Engine cooling: High-performance engines in tight cowlings require precise baffling. CHT management at high power settings is critical.
• Turbocharger maintenance (IV-P): Twin turbochargers on the TSIO-550 require additional maintenance. Wastegate and turbo bearing inspection at regular intervals.
• Pressurization system (IV-P): Requires regular inspection and testing. Seal degradation and controller failures can affect cabin pressure at altitude.

Per insurance-underwriting:

• Lancair 320/360: $1,500-$2,500/year. Retractable gear increases premiums.
• Legacy/Legacy RG: $2,500-$4,000/year. High-performance composite.
• IV-P: $4,000-$7,000/year. High hull values, high performance, and the accident reputation all increase premiums. Some insurers add surcharges or require additional training.
• Evolution (turbine): $6,000-$12,000/year. Turboprop hull values ($500K+) and pressurized high-altitude operations.
• Pilot requirements: Insurers require extensive experience — 500+ total hours, instrument rating, complex/high-performance endorsements, and meaningful time in type. Low-time Lancair pilots face very steep premiums or may be uninsurable.
• Training requirements: Most insurers require factory or approved transition training before coverage begins.