Archer Aviation

APublic (NYSE: ACHR)Founded 2018🇺🇸San Jose, California

CEO

Adam Goldstein

Overview

Archer Aviation is an electric aircraft company building Midnight, a piloted four-passenger eVTOL optimized for short, high-frequency urban trips, while also expanding into defense and powertrain sales. Archer went public in 2021, partnered with United Airlines and Stellantis, launched its commercial 'Launch Edition' program with Abu Dhabi Aviation in 2025, and entered 2026 targeting first passenger-carrying flights in the UAE and U.S. pilot programs. In March 2026, Archer said it had received FAA acceptance of 100% of Midnight's Means of Compliance and ended 2025 with roughly $2.0B of liquidity.

Main Products

Midnight

In Certification

Archer's production eVTOL aircraft — a piloted, all-electric VTOL with seating for 4 passengers plus 1 pilot. Features 12 electric motors (6 tilt for cruise, 6 lift for VTOL), a V-tail design, and is optimized for back-to-back short trips of ~20 miles with ~10-minute recharge between flights. Designed for high-utilization urban air taxi operations.

Completed UAE in-country full eVTOL flight-envelope testing in 2025 and remained in FAA type certification as of March 2026, with Archer saying additional piloted Midnight aircraft were in stages of completion for expanded operations.

Passengers4 + 1 pilot

RangeUp to 100 miles

Optimal Mission~20-mile trips

Recharge Time~10 minutes

Engines / Propellers12 total

What's Next

Begin first passenger-carrying flights

Archer says its first passenger-carrying Midnight flights are targeted for 2026 through its UAE commercial launch program and U.S. pilot-program work, making real operations its clearest near-term milestone.

2026

Convert accepted MoCs into remaining certification approvals

After reaching 100% FAA Means of Compliance acceptance, Archer still needs to finalize the remaining certification plans, continue for-credit testing, and keep moving Midnight through the rest of the FAA type-certification path.

2026

Stand up initial U.S. operating footprints

With Florida, New York, and Texas selected for the White House's eIPP, Archer now needs to establish local teams, infrastructure, and procedures that can support supervised Midnight operations in the second half of 2026.

H2 2026

Operations & Revenue

StatusPre-commercial

Still pre-commercial for passenger operations. Midnight remains in FAA type certification, Archer says its U.S. eIPP and UAE pilot programs are on track for 2026, and the company is targeting its first passenger-carrying flights in 2026.

Revenue Streams

Launch Edition & Air Taxi Operations

Archer's main planned business is operating Midnight in air taxi networks, starting with its Launch Edition model that deploys aircraft, pilots, technicians, and engineering support into early-adopter markets such as Abu Dhabi before broader scaled service.

Defense & Dual-Use Aircraft

Archer is building a defense business around DoD work and a dual-use hybrid-electric autonomous VTOL program with Anduril, aimed at logistics, cargo, medevac, and other military or government missions.

Electric Powertrain Sales

Archer has started monetizing its vertically integrated electric propulsion stack by selling its proprietary powertrain to third parties, beginning with Anduril and EDGE Group for the Omen autonomous air vehicle.

Key Metrics

Employees

~1,160

Est. Annual Revenue

~$0.3M revenue in FY 2025; no significant aircraft or service revenue yet

FAA Means of Compliance

100% accepted by FAA

Liquidity

~$2.0B at FY 2025 end

United Airlines Order

Up to 200 aircraft + option for 100 more

Optimal Trip Distance

~20 miles

Timeline

2026Reaches 100% FAA Means of Compliance acceptance

Archer said it received FAA acceptance of 100% of Midnight's Means of Compliance, calling it the first eVTOL company to reach that milestone. It also said its U.S. eIPP and UAE pilot programs were on track for 2026, with first passenger-carrying flights targeted that year.

2026Selected for U.S. eIPP pilot markets

The U.S. Department of Transportation and FAA selected Archer's partners in Florida, New York, and Texas for the White House's eVTOL Integration Pilot Program, clearing the way for Midnight trial operations in those states as soon as the second half of 2026.

2025UAE Launch Edition flight campaign begins

Archer turned its Abu Dhabi Launch Edition into an active deployment program: Midnight completed an in-country UAE flight test campaign across the full eVTOL envelope, Archer began receiving payments from Abu Dhabi Aviation, and the company continued working with local regulators and training partners ahead of commercial operations.

2024Midnight completes transition flight

Midnight completed a full transition flight in June 2024, flying at 100+ mph and becoming one of the largest eVTOL aircraft to achieve this milestone. Archer said Midnight was then in the implementation phase of FAA type certification and that piloted flight testing was on track to begin later that year.

2023Midnight first flight and manufacturing facility

Midnight production-intent aircraft completes its first hover flight. Opens a high-volume manufacturing facility in Covington, Georgia, designed to produce up to 650 aircraft per year at full capacity.

2022Stellantis manufacturing partnership

Partners with Stellantis (parent of Fiat, Chrysler, Jeep) to leverage its automotive manufacturing expertise for mass production of eVTOL aircraft. Stellantis invests $150M+ and provides access to supply chain and factory know-how.

2021Goes public and United Airlines partnership

Goes public on NYSE via SPAC merger with Atlas Crest Financial at a ~$3.8B valuation. United Airlines places a conditional pre-order of up to $1B for 200 Midnight aircraft with options for more. Reveals the Maker demonstration aircraft.

2018Founded by Brett Adcock and Adam Goldstein

Brett Adcock and Adam Goldstein (who previously co-founded Vettery, a hiring marketplace sold for $100M) launch Archer Aviation to develop eVTOL aircraft for urban air mobility.

Funding

Round	Date	Amount	Investors
Early Funding	2019–2020	$80M+	Marc Benioff, Ken Moelis, early venture investors
SPAC IPO (Atlas Crest Financial)	September 2021	~$858M	Public offering (NYSE: ACHR), United Airlines
Stellantis Investment	2023–2024	$150M	Stellantis N.V.
Registered Direct Offerings	February, June & November 2025	$1.8B gross proceeds	Institutional and strategic investors through three registered direct offerings