This paper presents the design of an asymmetrically variable wingtip anhedral angles morphing aircraft, inspired by biomimetic mechanisms, to enhance lateral maneuver capability. Firstly, we establish a lateral dynamic model considering additional forces and moments resulting during the morphing process, and convert it into a Multiple Input Multiple Output (MIMO) virtual control system by importing virtual inputs. Secondly, a classical dynamics inversion controller is designed for the outer-loop system. A new Global Fast Terminal Incremental Sliding Mode Controller (NDO-GFTISMC) is proposed for the inner-loop system, in which an adaptive law is implemented to weaken control surface chattering, and a Nonlinear Disturbance Observer (NDO) is integrated to compensate for unknown disturbances. The whole control system is proven semi-globally uniformly ultimately bounded based on the multi-Lyapunov function method. Furthermore, we consider tracking errors and self-characteristics of actuators, a quadratic programming-based dynamic control allocation law is designed, which allocates virtual control inputs to the asymmetrically deformed wingtip and rudder. Actuator dynamic models are incorporated to ensure physical realizability of designed allocation law. Finally, comparative experimental results validate the effectiveness of the designed control system and control allocation law. The NDO-GFTISMC features faster convergence, stronger robustness, and 81.25% and 75.0% reduction in maximum state tracking error under uncertainty compared to the Incremental Nonlinear Dynamic Inversion Controller based on NDO (NDO-INDI) and Incremental Sliding Mode Controller based on NDO (NDO-ISMC), respectively. The design of the morphing aircraft significantly enhances lateral maneuver capability, maintaining a substantial control margin during lateral maneuvering, reducing the burden of the rudder surface, and effectively solving the actuator saturation problem of traditional aircraft during lateral maneuvering.