If your RC plane, helicopter, multirotor, boat or glider needs a constant voltage to power the receiver, servos, flight-controller or FPV equipment then a voltage regulator (sometimes called a BEC) is essential.
In this video I review two products that I have found to be very handy:
The D-SUN buck regulator which can be had for under $1.50 a piece (including shipping) from places such as eBay. Here is an example:
The other regulator is the 12V boost-buck regulator from Pololu
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