Mysterious drone sightings in New Jersey, New York and the Northeast have attracted media attention and sparked speculation around the world. Although it is easy to group them into one category, there are huge differences between types of observations. There have been reports ranging from bright colors changing glowing orbs to flashing drones. The Federal Aviation Administration (FAA) required red, white and green lights at night.
While there has been no clear answer to the source and nature of the unidentified drone sightings, it is clear that many of these sightings may in fact be manned aircraft and regular drones. When the description of a car-sized flying drone is mentioned, it tends to resemble an electric vertical take-off and landing (eVTOL) aircraft, also called an air taxi. Here are two air taxi companies in the aerospace sector with eVTOL that match the observations described.
Joby: Leading the Air Taxi Revolution
Joby Aviation Today
(As of 5:19 p.m. ET)
- 52 week range
- $4.50
▼
$9.33
- Target price
- $8.35
Leading eVTOL manufacturer Joby Aviation Inc. NYSE: JOBS has been designing aircraft since 2009 with the goal of finally making its air taxis compliant with FAA regulations and entering commercial service in 2025. The company has flown more than 30,000 miles in its eVTOL prototypes over the past four years and has more trained pilots than any other company. another eVTOL player. Joby’s flagship S4 is a five-seater aircraft that can accommodate a pilot and four passengers flying at speeds of up to 200 mph. The goal of the air taxi network is to replace 45-minute car journeys with a seven-minute air taxi ride, safely and economically bypassing traffic congestion on zero-emission roads. The company has $710 million in cash and short-term investments and is in the pre-revenue stage.
Partnership with major players and investors
Joby Aviation stock forecast today
$8.35
-0.60% DisadvantageModerate purchase
Based on ratings of 5 analysts
| High forecast | US$10.00 |
|---|---|
| Average forecast | $8.35 |
| Low forecast | US$5.00 |
Joby Aviation Stock Forecast Details
Domestically, Joby has selected New York and Los Angeles as the first cities for its air taxi service. Joby collaborates with Delta Air Lines Inc. New York Stock Exchange: DAL Integrate your air taxi service with your booking platform to provide air taxi transportation to and from the airport. In October 2022, Delta invested $50 million with an option for an additional $200 million. Joby acquired Elevate from Uber Technologies Inc. New York Stock Exchange: UBER to create a complete ElevateOS software ecosystem that customers can use to book air taxis, flights and Uber rides directly through the mobile app.
Toyota Motor Company. New York Stock Exchange: TM is Joby’s largest investor, having already committed $394 million as a supplier of powertrain and driveline components. Toyota has committed to invest an additional $500 million in two tranches to support certification and commercial production of its air taxis.
Dubai closes to air taxis
Joby has partnered with Dubai’s Roads and Transport Authority (RTA) to launch air taxi services in 2026, with first operations to begin in 2025. The company also opened its first four vertiport locations in Dubai near Dubai International Airport, Dubai Marina and the city centre. Dubai and Palm Jumeirah. The company has also acquired exclusive rights to operate air taxis in Dubai for six years.
Archer Aviation: Race to Launch Air Taxi
Archer Aviation today
(As of 5:19 p.m. ET)
- 52 week range
- US$2.82
▼
$11.06
- Target price
- $10.63
Hot on the heels of Joby – the main competitor Archer Aviation Inc. New York Stock Exchange: ACHR and its flagship Midnight eVTOL, which can also carry a pilot and four passengers at speeds of up to 150 mph over a range of 100 miles. Auto giant Stellantis N.V. New York Stock Exchange: STLA is the main investor with a stake of $330 million. Stellantis is a contract manufacturer, with proceeds going towards building a 250,000 square foot high-volume manufacturing facility in Covington, Georgia. Stellantis has agreed to contribute up to $400 million in labor costs to enable Archer to reach its goal of producing 650 eVTOLs annually by 2028. Archer has $051.7 million in cash and cash equivalents.
Archer has negotiated contracts with the U.S. Department of Defense worth up to $142 million. They delivered the first Midnight eVTOL to the US Air Force under the Ability Prime program for testing to validate operational and military applications at their facility in Salinas, California.
Partner airlines: United, Southwest, Emirates and ADIO.
Archer Aviation stock forecast today
$10.63
-1.16% DisadvantageModerate purchase
Based on 8 analyst ratings
| High forecast | US$15.00 |
|---|---|
| Average forecast | $10.63 |
| Low forecast | $4.50 |
Archer Aviation Stock Forecast Details
Not to be outdone, Archer also has airline partners for its air taxi network. Southwest Airlines Inc. New York Stock Exchange: LOVE will help Archer develop an air taxi network in California. United Airlines Holdings Inc. NASDAQ: UAL has a conditional air taxi order of up to $1 billion (100 branded and 200 non-branded) and $500 million in options under its air taxi partnership. Archer hopes to launch an air taxi service by the end of 2025, initially in New York, San Francisco and Los Angeles. Archer is partnering with the Abu Dhabi Investment Office (ADIO) for eVTOL commercial operations. It is also the manufacturer of eVTOL aircraft for the Emirate’s planned electric air taxi operations.
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