Industry Overview - The eVTOL (flying car) industry is in its early stages, with companies focusing on achieving aviation certification for commercialization [1] - The industry is projected to be worth 1trillionby2040and9 trillion by 2050, accounting for 6% of global GDP [2] - The US eVTOL market is expected to grow at a CAGR of 53% from 2024 to 2030, reaching 920.5millionby2030[2]ArcherAviation′sPosition−ArcherAviationisidentifiedasapotentialvaluecreatorintheeVTOLspace,witha"StrongBuy"ratingat3.8 per share [1] - The company's stock has corrected by 41% in the last 12 months, presenting an accumulation opportunity [1] - Archer is well-positioned as an early mover in the industry, with significant potential for growth and value creation [2] Business Progress and Certification - Archer is progressing towards FAA certification, with commercialization expected in the second half of 2025 [4] - The company has achieved key milestones, including final airworthiness criteria for its Midnight flight and Part 135 Air Carrier & Operator Certificate from the FAA [4] - Archer has also received a Part 145 certificate, allowing it to perform specialized aircraft repair services [4] Order Book and Revenue Potential - Archer has an indicative order book of 6billionforthedeliveryof1,141aircraft[6][7]−TheorderbacklogisprimarilyfromtheUS,India,UAE,andKorea,with89.8500 million in 2026 [9] - By 2028, Archer targets revenue of over 3billionwithapotentialoperatingmarginof20300 million and signed a 400millioncontractmanufacturingagreement[10]−ThecompanyhaspartnershipswithUnitedAirlinesandSouthwestAirlinesforeVTOLroutesandoperationalplans[10]−Archerwillhavetworevenuestreams:aircraftOEM(20−306 billion order book is 4.5x its current market valuation of 1.3billion[12]−Analystshaveamedian12−monthpricetargetof9, implying a 152.8% upside from current levels [12] Future Growth and Opportunities - Archer is expected to achieve EBITDA breakeven by 2027, with significant revenue and margin growth projected beyond 2028 [9] - The company delivered its first Midnight aircraft to the US Air Force in Q2 2024, opening opportunities in defense sectors such as medical evacuation, cargo, and surveillance [14] - Archer's strong liquidity profile and partnerships are expected to drive further growth and order backlog expansion [14]