Joby and Archer Aviation in eVTOL Market
Joby Aviation (NYSE: JOBY) and Archer Aviation (NYSE: ACHR) are early contenders in the electric vertical takeoff and landing (eVTOL) market, with their first commercial flights still pending Federal Aviation Administration (FAA) approval, expected by late 2026 or 2027. Both companies went public through SPAC mergers in 2021 but are currently trading below their opening prices amid rising interest rates and lack of operational capacity.
Joby’s S4 can travel up to 150 miles at 200 mph and is backed by investors including Toyota and Delta Air Lines. In contrast, Archer’s Midnight has a range of 100 miles and maximum speed of 150 mph, with support from Stellantis and United Airlines. Analysts project Joby’s revenue to grow from $53 million to $458 million from 2025 to 2028, while Archer is anticipated to increase from under $1 million to $482 million in the same period. Notably, Joby has a market cap of $9.2 billion, trading at 20 times its estimated 2028 sales, whereas Archer’s $4.0 billion valuation corresponds to just eight times its 2028 sales.
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