The electric vertical take-off and landing (eVTOL) market is undergoing a transformative development surge, positioning itself for the next generation of modern aviation.
eVTOL aircrafts combine the vertical abilities of a helicopter with eco-friendliness of zero-emission technologies. As urban congestion worsens and environmental concerns mount, the eVTOL industry has emerged to offer innovative and sustainable solutions for mobility.
Analysts estimate that the eVTOL aircraft market will reach nearly $35 billion in value by 2030, with significant market growth expected between now and then.
Numerous companies are working to revolutionize air mobility to overcome urban transportation challenges, autonomous flying, and eco-conscious demand. Here are the top 5 eVTOL stocks to watch in 2024:
1. Surf Air Mobility Inc. (NYSE: SRFM)
Headquartered in Los Angeles California, Surf Air Mobility is an electric-aviation company redefining regional travel through the power of electrification. The company is building a mobility ecosystem to sustainably connect the world’s communities through the air and across the waterways.
Already the largest regional commuter airline in the United States based on scheduled departures, Surf Air has built an operating platform that it believes can rapidly scale towards fully-electric and hybrid-electric aircraft.
The company is collaborating with commercial partners including Cessna, Palantir, and AeroTEC to develop cutting-edge powertrain technology and software that will electrify its existing operator fleet as well as introduce electric planes to the market at a broader scale.
In contrast to industry peers like Joby Aviation, Lilium, Archer Aviation, who are all still devouring large amounts of capital to develop their respective products, Surf Air is generating significant revenues from its existing operations, reporting $101 million in revenue during 2022.
Most recently, the company confirmed an exclusive partnership with Textron Aviation to support the development of an electrified Cessna airplane. Surf Air plans to acquire up to 150 Grand Caravan EX aircrafts, which will be equipped with the company’s electric and hybrid-electric powertrain technology.
Looking to capitalize on untapped opportunities, Surf Air also signed a deal recently with REGENT to build an all-electric seaglider hub to serve passengers via coastal waterways in south Florida and throughout the Caribbean.
The company believes that zero-emission seagliders represent a new, untapped mode of transportation that combines the speed of an aircraft with the convenience of a boat.
Built to serve coastal and island communities, seagliders operate exclusively over the water and leverage existing dock infrastructure to carry people and goods up to 180 miles using today’s battery technology.
With plans to grow its flight service to 30 U.S. regional networks, combined with the exciting new opportunity on the waters, Surf Air is positioning itself to redefine electric regional mobility.
Shares of Surf Air Mobility trade on the NYSE under the ticker symbol SRFM. For more information visit www.surfair.com.
2. Joby Aviation (NYSE: JOBY)
Joby Aviation is developing electric vertical take-off and landing (eVTOL) aircraft for commercial passenger services.
The company’s full-scale prototype has covered more than 30,000 flight miles to date and also reached a significant milestone by including piloted flights in its expanded testing program.
Joby says that its production aircraft will be designed to transport a single pilot and up to four passengers, reaching speeds of up to 200 mph and having a maximum range of 100 miles. The company is aiming to build an aerial ridesharing service that will combine the ease of conventional ridesharing with the power of flight.
Joby also has plans to establish an aircraft manufacturing facility in Ohio capable of producing up to 500 aircraft per year. Construction of the facility is expected to begin in 2024 and come online by 2025.
Joby Aviation trades on the NYSE under the symbol JOBY.
3. Archer Aviation (NYSE: ACHR)
Archer Aviation is an urban air mobility company building a proprietary electric powertrain system that aims to provide more power density and higher efficiencies.
The company has partnered with Abu Dhabi Investment Office to launch air taxi operations in Abu Dhabi by 2026. The collaboration includes support from industry participants including Falcon Aviation and GAL-AMMROC.
Archer has also begun construction on the first phase of its Covington, Georgia facility that will support production of up to 650 aircraft per year.
Shares of Archer Aviation trade on the NYSE under the ticker symbol ACHR.
4. EHang (NASDAQ: EH)
Chinese-based EHang is a leading urban air mobility technology platform that offers a wide range of unmanned aerial vehicle systems and solutions. Its mobility platform ranges from air mobility solutions to smart city management systems.
Ehang was the first company to receive official type certificate for unmanned eVTOL aircrafts in China and recently began delivering its EH216-S autonomous aerial vehicles to customers.
Shares of EHang trade on the NASDAQ under the symbol EH.
5. Lilium (NASDAQ: LILM)
Lilium is developing its first eVTOL jet that features proprietary ducted electric vectored thrust technology.
The company has begun assembling its electric propulsion system at a dedicated facility near its headquarters in Germany. Lilium says that the development is a significant step toward achieving commercial deployment, with first manned flights targeted for late 2024.
Lilium continues to fly demonstration tests at the ATLAS Flight Test Center in Spain, where it is focused on increasing operational performance and further preparations to achieve certification.
Shares of Lilium trade on the NASDAQ under the symbol LILM.
For a full list of eVTOL stocks visit: https://greenstocknews.com/stocks/evtol-stocks
Other eVTOL stocks include:
Forward Looking Statements
The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among other things, statements about: Surf Air Mobility’s ability to anticipate the future needs of the air mobility market; Surf Air Mobility’s ability to make electrified aircraft broadly available to new and existing operators, future growth strategy and growth rate and its ability to grow its fleet. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “could”, “might”, “plan”, “possible”, “project”, “strive”, “budget”, “forecast”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. These forward-looking statements include, without limitation, statements regarding the Company’s plans to draw down and request advances under the share subscription facility. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: Surf Air Mobility’s future ability to pay contractual obligations and liquidity will depend on operating performance, cash flow and ability to secure adequate financing; Surf Air Mobility’s limited operating history and that Surf Air Mobility has not yet manufactured any hybrid-electric or fully-electric aircraft; the powertrain technology Surf Air Mobility plans to develop does not yet exist; the inability to maintain and strengthen Surf Air’s brand and its reputation as a regional airline; any accidents or incidents involving hybrid-electric or fully-electric aircraft; the inability to accurately forecast demand for products and manage product inventory in an effective and efficient manner; the dependence on third-party partners and suppliers for the components and collaboration in Surf Air Mobility’s development of hybrid-electric and fully-electric powertrains, and any interruptions, disagreements or delays with those partners and suppliers; the inability to execute business objectives and growth strategies successfully or sustain Surf Air Mobility’s growth; the inability of Surf Air Mobility’s customers to pay for Surf Air Mobility’s services; the inability of Surf Air Mobility to obtain additional financing or access the capital markets to fund its ongoing operations on acceptable terms and conditions; the outcome of any legal proceedings that might be instituted against Surf Air, Southern or Surf Air Mobility; changes in applicable laws or regulations, and the impact of the regulatory environment and complexities with compliance related to such environment; and other risks and uncertainties indicated in the prospectus. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. Although Surf Air Mobility believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Surf Air Mobility cannot guarantee future results, level of activity, performance or achievements and there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking statements and financial projections. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Surf Air Mobility does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Additional information regarding these and other factors that could affect SAM’s results is included in SAM’s registration statement on Form S-1 filed with the Securities and Exchange Commission (the “SEC”) on July 25, 2023, and other documents filed by the Company from time to time with the SEC, which may be obtained by visiting the SEC’s website at www.sec.gov or the investor relations page on SAM’s website at https://investors.surfair.com under the “Financials—SEC Filings” section. Information contained on, or that is referenced or can be accessed through, our website does not constitute part of this document and inclusions of any website addresses herein are inactive textual references only.
Disclaimer
This article is not financial advice and should not be taken as financial advice. This article is for information, education and entertainment purposes only. Green Stock News is not responsible for any losses related to the financial decisions made by you. Content is based on data obtained from sources we believe to be reliable but are not guaranteed as to accuracy and are not purported to be complete. As such, the information should not be construed as advice designed to meet the particular investment needs of any investor. Green Stock News is not responsible for any gains or losses that result from the opinions expressed in this video or in other materials that it publishes electronically. Green Stock News has been compensated fifteen thousand dollars by Surf Air Mobility for advertising services.
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