Mysterious drone sightings in New Jersey, New York, and along the Northeast have sparked worldwide media interest and speculation. While it’s easy to lump them all into one category, there are big differences between the types of views. There have been reports ranging from the brightly changing colors of glowing orbs to flashing drones that require the Federal Aviation Administration (FAA) to have red, white, and green lights at night.
Although there is no definitive answer to the source and nature of unidentified drone sightings, it is clear that many of these sightings may in fact be manned aircraft and regular drones. When a “car-sized” drone is described, it tends to resemble electric vertical take-off and landing (eVTOL) aircraft, also called air taxis. Below are two air taxi companies in the aviation sector with eVTOL vehicles that fit the described views.
Joby: Leading the air taxi revolution
Gobi Aviation Today
(As of 12/23/2024 at 05:45 PM ET)
- 52 week range
- $4.50
▼
$9.33
- Price target
- $8.35
The leading manufacturer of eVTOL aircraft Gobi Aviation Company New York Stock Exchange: Gobi It has been designing aircraft since 2009 with the goal of finally gaining FAA approval for its air taxis to begin commercial operations in 2025. The company has flown more than 30,000 miles with its prototype eVTOLs in the past four years, and has two pilots More instructors than any other pilot. Another eVTOL player. The flagship Gobi S4 is a five-seat aircraft capable of seating a pilot and four passengers flying at speeds of up to 200 mph. The goal of the air taxi network is to replace a 45-minute air taxi ride with a seven-minute air taxi ride, safely and economically navigating traffic congestion with zero emissions. The company has $710 million in cash and short-term investments and is at a pre-revenue stage.
Partnering with major players and investors
Joby Air stock forecast today
$8.35
9.58% upModerate purchase
Based on 5 analyst ratings
| High expectations | $10.00 |
|---|---|
| Average expectations | $8.35 |
| Low expectations | $5.00 |
Joby Air stock forecast details
Domestically, Joby has targeted New York and Los Angeles as initial cities for its air taxi service. Gopi is a partner with Delta Airlines New York Stock Exchange: D To integrate the air taxi service with its booking platform to provide air taxi transportation to the airport and back. Delta invested $50 million in October 2022 with an option for an additional $200 million. Joby acquired Elevate from Uber Technologies Inc New York Stock Exchange: Uber To create an integrated software ecosystem, ElevateOS, customers can use it to book air taxis, flights, and Uber rides directly through its mobile app.
Toyota Motor Company New York Stock Exchange: TM It is the largest investor in Joby, having already paid US$394 million as a supplier of engines and drive components. Toyota has committed to investing an additional $500 million in two tranches to support the certification and commercial production of air taxis.
Dubai closed to air taxis
Joby has partnered with Dubai’s Roads and Transport Authority (RTA) to launch air taxi services in 2026, with initial operations to begin in 2025. The company has also established four initial vertical airport sites in Dubai near Dubai International Airport, Dubai Marina and Downtown. Dubai and Palm Jumeirah. It also obtained the exclusive rights to operate air taxis in Dubai for six years.
Archer Aviation: Race to launch air taxi
Archer Aviation Today
(As of 12/23/2024 at 05:45 PM ET)
- 52 week range
- $2.82
▼
$10.58
- Price target
- $10.63
Goofy’s heel turn is the number one contender Archer Aviation Company New York Stock Exchange: ACR and its flagship Midnight eVTOL vehicle, which can also carry a pilot and four passengers at speeds of up to 150 mph over a range of 100 miles. Car giant Stellantis Nevada New York Stock Exchange: STLA He is the lead investor with a stake of $330 million. Stellantis is the contract manufacturer, with proceeds going toward building a 250,000-square-foot large-scale manufacturing facility in Covington, Georgia. Stellantis has agreed to commit up to an additional $400 million in labor financing to enable Archer to achieve its goal of manufacturing 650 eVTOL aircraft per year by 2028. Archer has $51.7 million in cash and cash equivalents.
Archer has received contracts with the US Department of Defense worth up to $142 million. They have delivered the first Midnight eVTOL aircraft to the USAF under the Ability Prime program to conduct validation tests for selected operational and military applications at their facility in Salinas, California.
Airline partners: United, Southwest, Emirates Airlines, and Abu Dhabi Investment Office
Archer aviation stock forecast today
$10.63
13.27% upModerate purchase
Based on 8 analyst ratings
| High expectations | $15.00 |
|---|---|
| Average expectations | $10.63 |
| Low expectations | $4.50 |
Details of Archer Aviation stock forecasts
Not to be outdone, Archer also has airline partners for its air taxi network. Southwest Airlines New York Stock Exchange: LOVE Archer will help develop California’s air taxi network. United Airlines Holdings Company Nasdaq: UAL It has a conditional order of up to US$1 billion in air taxis (100 corporate and 200 optional) and US$500 million in options in its air taxi partnership. Archer hopes to launch its air taxi service by the end of 2025, initially in New York, San Francisco and Los Angeles. Archer has partnered with Abu Dhabi Investment Office (ADIO) for commercial eVTOL operations. It is also the manufacturer of eVTOL aircraft for planned electric air taxi operations in the emirate.
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