Two recent test failures of Hypersonic Technology Vehicle 2 impose a strike to the increasingly growing enthusiasm, not only on the United States side. It is important to find out the exact failure reason, otherwise a solution is impossible. In this Note, we propose a potential failure reason from the perspective of lateral stability analysis. We argue that the time variant pressure fluctuations, which are normally omitted in classical aircraft dynamics analysis, could not be neglected in dynamic analysis of hypersonic vehicles. To demonstrate the idea, a hypersonic model is imagined in this work and its aerodynamic parameters are estimated using fundamental fluid principles. Pressure fluctuations are thereafter estimated by an empirical formula. A lateral dynamic equation is set up, taking those time variant fluctuations into account. The resulted equation is a Mathieu differential equation. Numerical solutions of this equation show that the inclusion of fluctuation terms generates more complicated dynamics and should be considered in flight controller design.pitch, yaw momentum coefficients I = moment of inertia, kg · m 2 l = the wing span, m L = roll moment, N · m M = Mach number m = mass of aircraft, kg N = yaw moment, N · m (p, q, r) = roll, pitch and yaw rate, rad/s p rms = rms fluctuating pressure, Pā q = dynamic pressure, Pa S = aerodynamic surface area, m 2 (x, y, z) = coordinates, m V = speed of freestream, m/s α = angle of attack, deg β = angle of sideslip, deg (ϕ, θ) = Euler angles, deg ρ = density of air, kg/m 3 Subscripts e = properties local to aerodynamic shape f = time variant part ∞ = freestream conditions 0 = stationary parts