Maybe your bike is fuel injected.
I believe an on/off petcock is required on carbureted bikes because the tank is positioned above the carb, so that when parked the engine could flood with gas, if the fuel is not positively blocked by turning the petcock to the off position.
Not sure, but maybe in a high wing plane with gravity feeding fuel to the carb, the mixture knob serves a similar purpose for shutoff.
The bike lacks the mixture knob.
The petcock in many carbureted bikes had a reserve setting, which you could engage by reaching down just below your tank, even while riding. I'm not sure, but maybe this requires that the small reserve tank be located above the carb, which is easy to arrange on the bike, with the tank immediately above the petcock, which is immediately above the carb. Would the same configuration be awkward in a plane?