A multi-agency response, which involved a number of partners and specialist resources, was launched on Sunday evening and continued today.
Officers have conducted extensive enquiries and are now treating the incident as a well intentioned false alarm.
Inspector Anton Stephenson, from Stirling Police Station, said: “I would like to thank our colleagues from Killin, Ochils and Lomond Mountain Rescue Teams, Scottish Fire and Rescue Service and the Scottish Ambulance Service who have helped with the comprehensive search.
“We have carried out a number of enquiries and are satisfied that the report was made with good intent.
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“I would like to thank those members of the public who supported the teams and those who have contacted us with information to help with our investigations.”
The alarm had been raised late on Sunday evening after two members of the public travelling on the M80 motorway saw what they believed to be a microlight aircraft descending into a wooded area to the south of Cambusbarron at around 4pm and contacted police.
A search took place last night, before it was stood down, and resumed this morning at first light.