The future of flying cars is on horizon. Right now, many eVTOL aircraft companies are working to be commercially certified by 2025. eVTOL stands for electric Vertical Take-Off and Landing.
So, eVTOL is basically a 4 to 6 seaters flying family car that works just like a helicopter that can take off, hover and land vertically but unlike helicopters, eVTOL aircrafts are powered by electric motors and for urban and low altitude use only.
It's a game-changer in urban air mobility that has zero emissions and quieter operations. It will cost over $300,000 per unit and is more efficient to transport people and goods within short distances. Analysts
predict the eVTOL market size could reach $9 trillion by 2040.
There are some players in this market, companies like Archer Aviation, Joby Aviation, Vertical Aerospace, and Eve Air Mobility make notable progress and have their own strengths and achievements. But investors see Archer Aviation (ACHR, Financial) as one of the leaders in the eVTOL industry and appreciate the stock price higher as they welcome Archer's aircrafts to be commercially certified in 2025.
To highlight its leadership, Archer has achieved FAA certification for flight test for their Midnight aircraft and Midnight will become the first eVTOL aircraft to be delivered to customers.
For the achievement, Archer has already pocketed contracts ith the Department of Defense (DoD) and just received a $1 billion order from United Airlines for Archer's eVTOL aircraft. Archer has also secured partnerships
with Signature Aviation and Soracle, a joint venture between Japan Airlines and Sumitomo Corporation, to expand Archer's infrastructure and order book.
