Vertical Take-Off and Landing

From SpaceWiki

Vertical Take-Off and Landing is a method of launching vehicles that launches similar to most traditional rockets, however instead of landing through the use of parachutes, the vehicle uses thrust from rockets as the principal deceleration mechanism to reduce speeds to landing speeds. In practice has been used on very few vehicles until recently, with a traditional example being the Lunar Lander Module used during the Apollo Program by NASA. Recently several companies have begun using this technology again, including several vehicles from the Northrop Grumman Lunar Lander Challenge.