The crash occurred around 12.45 p.m. at the 39th Vectren Dayton Air Show near Dayton, Ohio, Xinhua reported citing the Dayton Daily News.
A 450 HP Stearman plane carrying a wing-walker burst into flames as it hit the ground, killing both the pilot and the stunt walker. The wing walker was identified as Jane Wicker.
Terrence Slaybaugh, director of aviation for the city, confirmed the two fatalities.
Witnesses said they heard screaming and saw a fire ball. A fire truck was at the crash site within seconds and the flames were extinguished. No spectators were reported injured.
The stunt act was the third of the day, while the air show was scheduled to run Saturday and Sunday at the Dayton International Airport. Organisers cancelled the show for the remainder of the day following the crash.
In 2007, a veteran stunt pilot named Jim LeRoy was also killed at the Dayton show when his stunt plane crashed and burned.