The aircraft's model number indicates that it was designed to comply with the Federal Aviation Administration FAR 103 ultralight rules.

[8][9] The aircraft was designed to meet the requirements of FAR 103 Ultralight Vehicles, including maximum 254 lb (115 kg) empty weight.

[3][7][9] The Aerolite 103 features a high wing with half-span flaps that are extended by use of an overhead bellcrank to a maximum of 40 degrees.

[10] Since its introduction the Aerolite 103 has won many awards, including:[5] In December 2004 the company reported that 150 aircraft were flying, the majority as unregistered US ultralights.

[3][14] On 15 September 2019, former NASCAR driver Mike Stefanik was killed in the crash of an Aerolite 103 at Riconn Airport near Greene, Rhode Island.