Industry Overview - The electric aviation industry is positioned to disrupt traditional air travel, offering sustainable and cost-effective alternatives to fossil fuel-powered aircraft as concerns about climate change grow [1] - Electric aviation stocks are expected to experience significant growth, particularly for early investors with a high risk tolerance and a long-term investment horizon [1] Joby Aviation (JOBY) - Joby Aviation is a leader in the eVTOL market, nearing the final stages of its FAA certification process and generating revenue through government and military contracts [2] - The company has completed three of the five required stages of FAA type certification, marking a significant milestone towards commercialization [2] - Joby reported having $1 billion in cash and short-term investments at the end of 2023, providing sufficient capital for its certification and commercialization goals [2] Archer Aviation (ACHR) - Archer Aviation is progressing well with its eVTOL development and expects to start commercial operations by 2025 [4] - The company has completed essential testing phases and announced presales of its vehicles, with strategic partnerships to build infrastructure in key markets like New York City and Los Angeles [4] - Archer is constructing its first three conforming Midnight aircraft for FAA "for credit" testing, crucial for its certification process [4] Surf Air Mobility (SRFM) - Surf Air Mobility focuses on regional air mobility through the development of electric seagliders, which combine aircraft speed with boat convenience [6] - The company has entered a collaborative agreement with Electra to bring hybrid-electric eSTOL aircraft to market, suitable for smaller regional airports [6] - Surf Air Mobility reported fourth quarter revenue of $26.84 million, slightly above consensus estimates, and anticipates first quarter 2024 revenues between $28.5 million and $29.5 million [6]
3 Electric Aviation Stocks to Own Before eVTOL Really Takes Off