Archer Aviation (ARWR) and Joby Aviation (JOBY) are positioning themselves as pioneers in the emerging urban air mobility sector, with both companies advancing toward commercial operations. As they navigate regulatory hurdles and development timelines, key metrics reveal divergent progress in certification, pilot training, and infrastructure planning.
- Archer Aviation completed over 1,200 flight tests, including 340 autonomous tests, with FAA Part 23 certification targeted for mid-2025.
- Joby Aviation achieved more than 1,500 flight hours with its S4 aircraft and has preliminary FAA design approval.
- Archer has secured orders for 200 aircraft from United Airlines; Joby has agreements with American Airlines and Hyundai for 100 aircraft each.
- Archer’s Texas production facility aims to produce 120 aircraft annually; Joby’s California plant targets 100 aircraft per year.
- Archer’s 2025 net loss was $198 million; Joby’s was $241 million, with both companies relying on external funding to advance development.
- Both companies are developing vertiport networks and pilot training programs, with Archer launching a pilot academy and Joby partnering with the FAA on simulator training.
Archer Aviation and Joby Aviation are at the forefront of a transformative shift in urban transportation, aiming to launch electric vertical takeoff and landing (eVTOL) aircraft by 2026. Archer has advanced its Midnight eVTOL to the final phase of FAA certification, with a target for FAA Part 23 certification by mid-2025. The company has already completed over 1,200 flight tests, including 340 autonomous flights, and has secured a firm order for 200 aircraft from United Airlines. Joby has also made strides, with its S4 aircraft undergoing extensive flight testing, achieving more than 1,500 flight hours, and receiving preliminary approval for its aircraft design from the FAA. Joby has inked agreements with American Airlines and Hyundai for 100 aircraft each, and has established a network of 15 vertiport locations across the U.S. as part of its planned commercial launch in 2026. The path to commercialization remains fraught with challenges, including pilot certification, air traffic integration, and scaling manufacturing capacity. Archer has partnered with GE Aerospace to develop its propulsion system and is investing in a production facility in Texas with a projected capacity of 120 aircraft per year. Joby, meanwhile, has a joint venture with Subaru to produce its aircraft and is building a manufacturing plant in California capable of producing 100 aircraft annually. Both companies are also investing in pilot training programs, with Archer launching a pilot academy in 2024 and Joby announcing a simulator-based training initiative with the FAA in early 2025. Financially, Archer's market capitalization stands at approximately $2.4 billion as of March 2026, while Joby’s is around $3.1 billion. Both have reported negative operating cash flows, with Archer's net loss totaling $198 million in 2025 and Joby's reaching $241 million. Despite these losses, investor interest remains strong, with both stocks receiving attention from institutional funds focused on sustainable aviation innovation. The outcome of FAA certification timelines and early commercial deployment success will likely determine long-term market positioning.