That's what a Valkyrie is. It's a tranforming fighter. The Valkyrie has 3 basic forms, Fighter, Gerwalk, and Battroid. Hasagawa's kits are 1/72 and only the fighter and Battroid are available so far. We can only hope for the Gerwalks.
Fighter= Aircraft
Gerwalk= A plane with arms and legs
Battroid= A humanoid mecha
There are several different VFs. (Valkyrie Fighter)
VF-1A All around soldier, AKA cannon fodder, single laser head
VF-1J A Special Japanese version, Officer, 2 Laser head
VF-1D 2 seat Valkrie, 2 laser head
VF-1S Commanding Officer, 4 laser head
VT-1 2 seat trainer, unarmed (The 'T' is Valkyrie Trainer)
VE-1 EWAC bird (The 'E' is Valkyrie Electronics)
Each of these VFs can have the addition of extra armor, weapons, and boosters. They are used only in space though. That's known as a Super Valkrie. FAST packs are equipped to the arms and legs along with 2 big back mounted boosters.
Another version adds a big double barrle cannon to a booster pack. This version is known as a Heavy Weapons Type (HEWAT) or more commonly as a Strike Valkrie.
This covers all the Hasagawa kits that would be found in Robotech. There are other Macross series Valkyries from newer animes about Macross. Macross Plus, Macross 7, and Macross 0 all have Hasagawa models now, but do not have any ties to Robotech, or Revell's Robotech.