Core Insights - Joby Aviation and Archer Aviation are currently prominent in the eVTOL market, but Boeing's subsidiary Wisk poses a significant long-term threat due to its focus on autonomous eVTOL technology [1] Group 1: Company Strategies - Archer Aviation aims to be an original equipment manufacturer (OEM) selling its aircraft to third-party users, utilizing an asset-light business model that relies on partners' technology and components [2] - Joby Aviation is positioning itself as a vertical transportation services company, planning to use its own eVTOL aircraft in partnership with Delta Air Lines and Uber Technologies to provide air taxi services [3] - Wisk, like Joby, aims to be a transportation services company but is focused on developing an autonomous eVTOL with its Generation 6 aircraft, which could directly compete with Joby's air taxi services [4] Group 2: Certification and Market Dynamics - The certification process for autonomous eVTOLs is complex, leading Wisk to not expect commercial service until at least 2030, which gives Joby and Archer a first-mover advantage [5] - Boeing is proposing a new "Concept of Operations for Automated Flight Rules (AFR)" to facilitate the certification of automated flight, aiming to promote system automation across the industry [6]

Core Viewpoint - The electric vertical takeoff and landing (eVTOL) market presents significant upside potential, particularly for Joby Aviation, but it also carries substantial risks that need to be addressed before investment decisions are made [1]. Company Overview - Joby Aviation aims to create a vertically integrated transportation services company, focusing on making, owning, and operating its aircraft, unlike Archer Aviation, which plans to sell eVTOL aircraft to third parties [2]. - Joby Aviation's current market capitalization is $9.6 billion, with a current stock price of $10.57, and it has experienced a gross margin of -11490.90% [3]. Certification and Technology - Joby is leading in the certification process, developing its own technology and components, while Archer relies on established companies for technology [4]. - Joby is in the final stage of FAA certification, where pilots test the aircraft, but there is no guarantee of receiving approval [5]. Financial Considerations - Joby needs to invest significantly in manufacturing capacity, vertiports, and operational fleet development before generating revenue from air taxis [7]. - Wall Street consensus suggests that Joby will need to raise cash in 2026, likely through equity, as it is projected to burn through $646 million in 2026, starting the year with only $710 million in net cash [8][9]. Competitive Landscape - Joby faces long-term threats from Boeing's subsidiary, Wisk, which is developing autonomous eVTOLs that could undercut Joby on pricing due to not requiring a pilot [10]. - Despite the risks, Joby has strong partnerships with Delta Air Lines, Uber, and Toyota, which enhance its manufacturing capabilities and market position [11]. Future Outlook - Joby is likely to have a first-mover advantage over Wisk, as autonomous eVTOLs face greater technical, regulatory, and cost challenges [12]. - The vertically integrated business model of Joby presents significant upside potential, despite the inherent risks [12].

Key Takeaways ACHR is highlighted as a key contender as demand grows for cleaner, faster urban air mobility solutions.ACHR is advancing FAA approval, adding NVIDIA-powered AI and expanding in Europe through a Serbia partnership.EHang secured autonomous eVTOL certification in China and completed a 22 km pilotless cross-strait flight.Rising demand for cleaner and more efficient travel is driving growth in the electric vertical takeoff and landing eVTOL industry, which is expected to play an important role in ...

相关报告： 2026年全球激光通信终端（LCT）行业总体规模、主要企业国内外市场占有率及排名 QYResearch的观点和数据因被众多国内外知名企业、证券公司及媒体频繁引用与转载，而享有高度的品牌知名度。 其权威认证确保了所提供的行业分析及定制报告的可信度与专业度，是业界信赖的优选。 【2026年行业数据引用案例持续更新中，敬请关注】 PART 0 1 企业引用部分 氦星光联科技有限公司引用了QYResearch出版的激光通信终端市场报告 https://www.qyresearch.com.cn/reports/6451318/laser-communications-terminals--lcts 近2亿元A1轮融资完成，氦星光联加速构建天地一体化光通信网络 同时，据QYResearch统计，全球激光通信终端市场规模在2031年将激增至29.48亿美元，2025-2031年复合增长率（CAGR）高达 45.0%。 来源：面包板网 更多：https://www.eet-china.com/mp/a471383.html 浙江恒道科技股份有限公司在招股书中引用了QYResearch出版的热流道市场报告 | | ...

对于地方发展情况，记者获悉，据不完全统计，全国超20个省区市设立低空经济产业基金，总规模突破 1200亿元；上海市正在编制《上海市低空基础设施建设方案》和《上海市低空场景拓展方案》。 与会专家透露，预计到2027年，国内主要eVTOL企业可能会完成取证。eVTOL生产企业时的科技联合 创始人周龙超对此予以确认，时的科技正在积极推进取证工作，目前已进入国内验证阶段，预计最快 2027年可获得适航证。"随着技术持续成熟和规模化使用，未来eVTOL每座每公里费用预计将低至4 元。只有价格足够亲民，才具备广泛应用空间，以满足日常30至150公里的出行需求。" 近日，《经济参考报》记者从"'十五五'因地制宜发展新质生产力研修班"上获悉，除上述标准外，《民 用无人驾驶航空器飞行控制系统数据记录要求》《民用无人驾驶航空器感知与避让要求》《民用无人驾 驶航空器数据链路安全要求》等强制性国家标准已完成立项，《民用无人驾驶航空器电子围栏机载平台 技术要求》等强制性国家标准已在筹划中。 多位与会人士告诉记者，围绕低空经济，后续将会有十多项强制性国家标准陆续出台。强制性国家标准 作为事后监管手段，虽不影响产品上市，但被抽查发现产品不 ...

Archer Aviation is a leading developer in the urban air mobility sector, focused on pioneering electric aircraft for short-distance passenger transport. The company leverages innovative eVTOL technology to address urban congestion and provide sustainable transportation alternatives. With a strong emphasis on engineering and regulatory advancement, Archer aims to establish a competitive edge in the emerging market for electric air taxis.As of Jan. 26, 2026, shares of Archer Aviation were priced at $8.03. The ...

The proceeds will support Eve's research and development, including the integration of its eVTOL aircraft into a comprehensive urban air mobility ecosystem. This funding accelerates technological progress and strengthens partnerships with infrastructure providers and regulatory bodies. With these resources, the Company can advance aircraft certification and commercialization while ensuring compliance with global aviation standards. This transaction enhances Eve's capacity to meet rising global demand for su ...

Industry Overview - The electric vertical take-off and landing (eVTOL) industry is still in its early stages, with no flying taxis currently operating in major U.S. cities, presenting a potential growth opportunity for investors [1] Company Performance - Joby Aviation (NYSE: JOBY) has seen its stock price increase by approximately 360% since the beginning of 2023, providing significant returns for investors [2] - Joby's current market capitalization stands at $14 billion, which is substantial for a company with an unproven business model [6] Progress and Challenges - Joby Aviation is making strides towards certifying its aircraft and has been conducting test flights, aiming to launch commercial operations in the Middle East later this year, particularly in the United Arab Emirates [3] - Despite progress, investor interest has waned, with the stock losing over 5% in value in the past three months and trading volumes significantly decreasing [4][8] Future Potential - The potential launch of air taxi services this year could serve as a major catalyst for Joby's stock price, although concerns remain regarding the high valuation and the practicality and profitability of its eVTOLs [5][6] - Analysts currently have a consensus price target of $13.43 for Joby, indicating a potential downside of more than 10% from its current trading price, although this could change with regulatory approvals and service launches [7]

Group 1: Economic Data Releases - China will release its trade balance for December 2025 on January 14, with total goods trade value reaching 41.21 trillion yuan, a year-on-year increase of 3.6% for the first 11 months of 2025 [2] - In November 2025, China's goods trade showed a recovery with a total value of 3.9 trillion yuan, growing by 4.1%, including exports of 2.35 trillion yuan (up 5.7%) and imports of 1.55 trillion yuan (up 1.7%) [2] - The U.S. will announce its December 2025 CPI data on January 13, with November 2025 CPI showing a year-on-year increase of 2.7% and core CPI at 2.6% [4] Group 2: Financial Environment - November 2025 financial data in China indicated that M2 and social financing growth rates remained high, supporting a favorable monetary environment for economic recovery [3] - It is expected that China's monetary policy will continue to maintain a moderately loose stance in 2026, complemented by fiscal policy efforts [3] Group 3: Industry Conferences - The second China eVTOL Innovation Development Conference is scheduled for January 15-16, 2026, in Shanghai, focusing on "Innovation Leading, Smartly Opening the New Business Era of eVTOL" [5] - The fifth AIGC China Developer Conference will be held on January 17, 2026, in Beijing, themed "Ecology, Support, Domestic, Trend" [5] - The fourth China Petroleum and Chemical Industry Digital Transformation and Intelligent Development Conference will take place from January 13-15, 2026, in Beijing [5] Group 4: Stock Market Developments - Over 480 billion yuan in market value of restricted stocks will be unlocked in the A-share market from January 12-16, 2026, with 23 stocks facing unlocks [6] - Among these, Zhongke Lanyun has a restricted stock unlock value exceeding 10 billion yuan [6]

Core Insights - The eVTOL industry in China is at a critical juncture, where the ability to manufacture, deliver consistently, and operate compliantly will determine the future of companies like Volant [2][3] - Volant's approach involves a "hybrid supply chain" that integrates traditional aviation with new manufacturing technologies, aiming to create a sustainable ecosystem for low-cost delivery [3][5] Group 1: Supply Chain Dynamics - Volant's order numbers include both confirmed orders and expressions of interest, highlighting the pressure on the company to deliver despite not yet having type certification [3] - The hybrid supply chain connects traditional aviation and military systems with consumer electronics and drone technologies, but the real challenge lies in successfully integrating these diverse elements [3][4] - The conflict in operational rhythms between traditional aviation suppliers and consumer electronics creates a fundamental contradiction in development agility versus certification and mass production requirements [4] Group 2: Regulatory and Manufacturing Challenges - Achieving airworthiness certification is just the beginning; companies must also navigate airspace approvals and operational standards, which are constrained by limited regulatory personnel and a lack of mature standards for eVTOL [7] - The difference in manufacturing and regulatory paths between Volant and competitors like Joby Aviation highlights the importance of early alignment with certification processes to mitigate risks [8][10] Group 3: Cost Structure and Risks - The introduction of new manufacturing capabilities aims to reduce costs, but achieving aviation-grade reliability often necessitates expensive modifications and comprehensive oversight of suppliers [5] - Volant's reliance on traditional aviation suppliers, which constitutes about 70% of its supply chain, ensures safety but complicates efforts to reduce costs and integrate innovative solutions [5][11] Group 4: Industry Comparisons and Future Outlook - The "time debt" associated with Volant's hybrid supply chain reflects the need for future investments in system integration and quality assurance to meet market demands [11] - The collapse of companies like Lilium serves as a cautionary tale, emphasizing that leading technology and substantial orders do not guarantee commercial viability without successful certification and delivery capabilities [12]