Air pressure measured in In Hg. the engine is rated to give it's maximum rated horsepower when operated with in it's limits.
as the barometric pressure changes or the temperature changes it will also change the 'pressure' measured in In Hg.
Less pressure = less performance . Hot , high = less air pressure( and oxygen) to enter the cylinder on the intake stroke when the air craft is tested the limits are established for sea level performance , thus the red line on the manifold gage,
Laps rate of 2" per a thousand feet... = high altitude 13,000 max for most normally aspirated engines, The air pressure is so low the power is almost nonexistent.