Project ST11H-M2 (code "Falcon-M2") is a concept project of a hydrofoil boat based on the implemented project ST11H. The main technological differences from the base vessel are a predominantly welded structure instead of riveted and alternative exterior.

Falcon-M2 can be used as a high-speed crew boat, a pleasure boat, a water taxi (capacity of 11 passengers). The boat can be equipped with fixed or lifting hydrofoils/bow foil.