Could Mysterious Drone Sightings Be eVTOL Air Taxis?

The recent surge in mysterious drone sightings across New Jersey, New York, and other areas in the Northeast has sparked significant media interest and speculation. While these sightings may seem similar at first glance, they exhibit a variety of characteristics. Reports have included everything from brightly colored, changing glowing orbs to drones displaying the standard red, white, and green lights mandated by the Federal Aviation Administration (FAA) for night flying.

Despite no conclusive explanation for these unidentified sightings, there is a possibility that many could actually be manned eVTOL (electric vertical take-off and landing) aircraft, commonly referred to as air taxis. Here, we examine two prominent companies in the air taxi sector that produce eVTOLs which might align with these sightings.

Joby Aviation: Pioneering the eVTOL Sky

Joby Aviation Inc. (NYSE: JOBY) has been at the forefront of eVTOL development since its inception in 2009, aiming to achieve FAA certification for commercial operations by 2025. Over the past four years, the company has logged more than 30,000 flight miles using its prototypes. Joby's flagship aircraft, the S4, can accommodate a pilot and four passengers, reaching speeds of up to 200 miles per hour. The company's vision is to transform 45-minute car commutes into just a seven-minute air taxi ride, offering a sustainable and efficient alternative to traffic congestion.

Strategic Partnerships and Investor Support

Joby has established partnerships with major players in the transportation industry. It has been collaborating with Delta Air Lines Inc. (NYSE: DAL) to integrate its air taxi services into Delta's booking system, facilitating travel to and from airports. Delta initially invested $50 million in Joby, with the potential for an additional $200 million. Furthermore, Joby acquired Elevate from Uber Technologies Inc. (NYSE: UBER), establishing a comprehensive software platform, ElevateOS, for seamless booking of air taxis and Uber rides.

Another crucial stakeholder is Toyota Motor Co. (NYSE: TM), the company's largest investor, who has pledged $394 million and promised an extra $500 million in two phases to aid Joby's certification and production processes.

Global Expansion Plans

In its quest to extend its reach internationally, Joby has partnered with the Dubai Road and Transport Authority (RTA) to introduce air taxi services in Dubai, with operations expected to commence in 2025. The company has already secured four initial vertiport locations near the busy Dubai International Airport.

Archer Aviation: Aiming for Early Launch

Archer Aviation Inc. (NYSE: ACHR) is another key player in the eVTOL race, vying closely with Joby for market leadership. Its flagship aircraft, the Midnight, can fly at speeds of up to 150 mph and can carry a pilot and four passengers over a distance of 100 miles. The company has garnered support from Stellantis N.V. (NYSE: STLA), which has invested $330 million, and also serves as Archer's contract manufacturer, assisting in the construction of a new facility in Covington, Georgia.

Partnerships and Future Prospects

Archer has contracts with the U.S. Department of Defense, worth up to $142 million, and has recently delivered its first Midnight eVTOL under the Ability Prime program. Furthermore, Archer has formed valuable alliances with major airlines, such as Southwest Airlines Inc. (NYSE: LUV) and United Airlines Holdings Inc. (NASDAQ: UAL), planning to create a robust air taxi network in key metropolitan areas.

Archer’s goal is to launch its air taxi service by the end of 2025 in cities like New York, San Francisco, and Los Angeles, while also partnering with the Abu Dhabi Investment Office for operations in the UAE.

drone, eVTOL, aviation