What is the story about?
What's Happening?
Joby Aviation is currently leading its competitor Archer in the advanced air mobility sector, with significant progress in flight testing and manufacturing. Joby has been flying piloted aircraft in Dubai, performing full transitions between hover and cruise, and is assembling the first Type Inspection Authorization (TIA) aircraft for certification flight testing. In contrast, Archer is flying uncrewed aircraft and taking off and landing from a runway, focusing on Conforming Aircraft. This suggests Joby is gaining valuable real-world flight test data and is ahead by at least a year, possibly several years, in its development and certification efforts with the FAA.
Why It's Important?
The advancements by Joby Aviation in the eVTOL sector are significant as they position the company ahead in the race to commercialize air taxi services. Joby's progress in flight testing and manufacturing could lead to earlier market entry, providing a competitive edge in the burgeoning urban air mobility market. This development impacts stakeholders such as investors, urban planners, and potential customers who are looking forward to the integration of eVTOLs into transportation systems. Archer's slower progress may affect its market positioning and investor confidence, highlighting the competitive nature of the industry.
What's Next?
Joby Aviation appears on track to launch into TIA flight testing later this year or early next, while Archer has yet to roll out and fly the aircraft it plans to certify. A difference of one year appears likely, if not conservative, and some industry-watchers now believe two years could be realistic. Archer can still work to close the gap if it moves quickly, but there is no alternative to racking up flight test hours, and Joby’s lead in that department is simply far too large to close.
Beyond the Headlines
While Archer appears to be trailing its rival, it is also important not to understate the very real progress it has achieved. The company has built multiple prototypes and has performed something close to a true transition. It has cemented hugely important alliances with major companies like Stellantis, Anduril, United Airlines, and Southwest Airlines, while also putting together a fortress balance sheet that currently leads the industry.
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