Kyle Clark
Data verified as of Aug 14, 2026
Beta Technologies is an electric aerospace company building the ALIA aircraft family, electric propulsion systems, charging infrastructure, batteries, and flight-critical systems for cargo, passenger, medical, and defense markets. Founded in 2017 by Kyle Clark, the company went public on the NYSE in November 2025 and uses a stepwise commercialization path centered on certifying its conventional ALIA CTOL aircraft first while scaling motor, charger, and engineering services. By Q1 2026, Beta had grown its aircraft backlog to 991 units worth $3.9 billion, and by Q2 2026 had logged over 190,000 nautical miles of flight testing across a 138-site charging network (targeting 250,000 nautical miles by year-end 2026). Beta was selected for seven of the eight U.S. eIPP launch programs and flew the program's first operational missions on July 10, 2026, using the ALIA CX300 to carry United Therapeutics' manufactured organs across a ~275-nautical-mile Virginia-Maryland corridor, and by August 2026 was running eIPP cargo and medical-logistics missions with partners in New York, Texas, Utah, Maryland/Virginia, and Louisiana. At the July 2026 Farnborough Airshow, Beta unveiled the MV250 - a hybrid-electric autonomous VTOL for military logistics built around a GE Aerospace CT7/T700 turbine and Sikorsky's MATRIX autonomy stack - helped GE, NASA, and Boeing complete the first hybrid-electric flight above 30,000 feet, and signed a term sheet with UK carrier Loganair for up to 10 ALIA CTOL aircraft, positioning Loganair to become Europe's first electric-aircraft airline. Q2 2026 revenue was $14.7 million (up 146% year over year, beating guidance), with FY2026 guidance raised to $42-$50 million and $1.48 billion in cash as of June 30, 2026. H500A motor certification has slipped past its original H1 2026 target, though Beta reported in its Q2 2026 results that it reached agreement with the FAA on the motor's continued-rotation compliance approach and has formal FAA testing underway; CEO Kyle Clark still targets ALIA CX300 type certification in the second half of 2027 (down from an original late-2025 goal), with the A250 eVTOL following around 2028.
Company OverviewRead the long-form profile of Beta Technologies
Conventional takeoff and landing electric aircraft in BETA's ALIA family, designed for cargo, medical, and regional passenger missions using existing airport infrastructure. BETA's stepwise commercialization plan puts the CTOL aircraft into service first before the VTOL variant.
BETA is commercializing the CTOL aircraft first while continuing FAA type certification across the ALIA family. On July 10, 2026 the CX300 flew the first operational missions of the U.S. DOT/FAA eIPP, carrying United Therapeutics' manufactured organs across a Virginia-Maryland corridor. On July 20, 2026, UK carrier Loganair signed a term sheet for up to 10 CX300s, positioning it to become Europe's first electric-aircraft airline with entry into service targeted for 2029.
The crewed, all-electric vertical takeoff and landing (eVTOL) member of the ALIA family - a lift-plus-cruise design with four fixed-pitch overhead rotors for vertical lift and a single rear pusher propeller for forward cruise. It shares roughly 80% commonality with the CX300, including flight controls and cockpit layout, and is the aircraft the defense-focused MV250 is derived from.
Flying alongside the CX300 in BETA's certification and demonstration program; a June 2026 Vermont demonstration included a piloted hybrid landing using both the lift rotors and pusher propeller. Certification is sequenced behind the CX300, which BETA now targets for the second half of 2027, with the A250 expected to follow around 2028 per company SEC filings.
BETA's multimodal charging ecosystem spans fixed Charge Cubes, mobile Mini Cubes, and thermal management systems for electric aircraft and EVs. It is designed as both enabling infrastructure for ALIA and a third-party charging product line, and anchors the July 2026 ACES consortium with Archer Aviation and Macquarie Capital to build up to 250 interoperable U.S. sites by 2030.
As of Q1 2026, the network totals 123+ sites, and BETA continues to expand domestically and internationally while supporting interoperable charging for third-party aircraft.
BETA's aerospace-grade pusher motor is sold as a standalone propulsion product as well as used inside the ALIA family, giving the company a component business beyond aircraft deliveries.
BETA completed FAA conformity work on all H500A test units in 2025, and type certification slipped past the original H1 2026 target on the FAA's required 'continued rotation' containment test. In its Q2 2026 results (August 12, 2026), BETA reported it reached agreement with the FAA on a continued-rotation compliance approach, completed durability and lightning-strike teardowns with strong results, and substantially completed software requirements-based testing, with formal FAA testing now underway.
Autonomous hybrid-electric VTOL derivative of the A250 aimed at contested military logistics, CASEVAC, and other defense missions where payload, austere operation, range, and optional autonomy matter more than urban air taxi economics. Formally unveiled at the July 2026 Farnborough Airshow, it pairs a GE Aerospace CT7/T700 hybrid-electric turbine propulsion system with Sikorsky's MATRIX autonomy stack.
Unveiled July 20, 2026 with GE Aerospace (hybrid-electric turbine propulsion) and Sikorsky (MATRIX autonomy stack, also used on Sikorsky's pilotless Black Hawk demonstrator) as partners. BETA targets military exercises with the MV250 in 2027 and production as soon as 2028.
Certify the H500A motor and the ALIA CX300
H500A electric motor certification has slipped past the original H1 2026 target. In its Q2 2026 results (August 12, 2026), BETA reported it reached agreement with the FAA on a continued-rotation compliance approach for the motor, completed durability and lightning-strike teardowns with strong results, and substantially completed software requirements-based testing, with formal FAA testing now underway. CX300 type certification remains targeted for the second half of 2027 per CEO Kyle Clark (from an original late-2025 goal), with commercial operations following and the A250 eVTOL certified around 2028.
Scale U.S. eIPP operations toward paid cargo service
BETA flew the first operational eIPP missions on July 10, 2026 (ALIA CX300 carrying United Therapeutics' manufactured organs across a Virginia-Maryland corridor). By its Q2 2026 results (August 12, 2026), BETA reported it was running eIPP cargo and medical-logistics missions with partners across five regions - New York (upstate NY and Vermont), Texas (medical supply distribution and cargo logistics), Utah (cargo and medical logistics to rural communities), Maryland/Virginia (organ delivery logistics), and Louisiana (onshore logistics support for offshore Gulf of America energy production). The next milestone is broadening these deployments across the seven eIPP launch programs spanning at least 10 states toward routine paid cargo operations, and eventually VTOL missions, ahead of full type certification.
Turn Surf Air into a launch passenger operator
Use the Surf Air Mobility firm order (25 ALIA CTOL + 75 options) to move from cargo service into commercial passenger operations, with Hawaii positioned as the first launch market. A six-to-eight-week interisland electric-aviation demonstration with Surf Air (Mokulele Airlines) and Hawaiian Airlines support began June 25, 2026; as of mid-August 2026, near the end of that window, no results or a demonstration wrap-up have been publicly reported yet. Surf Air's existing passenger demand and airport infrastructure give BETA a ready commercial base once the CX300 is certified (now targeted 2H 2027).
Advance the MV250 to military exercises and production
Formally unveiled at Farnborough on July 20, 2026, the MV250 pairs a GE Aerospace CT7/T700 hybrid-electric turbine with Sikorsky's MATRIX autonomy stack for contested military logistics. On BETA's August 12, 2026 Q2 earnings call, CEO Kyle Clark reaffirmed the program, highlighting a 1.4-MW hybrid turbogenerator being developed with GE Aerospace and a near-term goal of landing a rapid-prototyping contract as the next step in the defense pipeline, ahead of the longer-term targets of government exercises in 2027 and production as soon as 2028.
Convert Loganair term sheet into a firm order and launch Europe's first electric airline fleet
Loganair and BETA signed a July 20, 2026 term sheet for up to 10 ALIA CTOL (CX300) aircraft - 5 firm plus 5 options - building on a March 2026 UK demonstration program (23 flights in 10 days). As of mid-August 2026 the deal remains a term sheet with no reported conversion to a firm order. The next steps are converting the term sheet to a firm order and preparing Loganair's UK network for entry into service, targeted for 2029, which would make it Europe's first commercial airline operating an electric aircraft fleet.
Finalize expanded EXIM Bank financing to double manufacturing capacity
BETA and the US Export-Import Bank announced intent on August 4, 2026 to expand their financing relationship with $830 million of incremental, non-dilutive financing on top of an initial roughly $170 million tranche, for up to $1 billion in total. BETA's commercial aircraft backlog has grown from about $1 billion to $3.9 billion since the original EXIM financing, and the expanded funding would roughly double capacity across BETA's manufacturing facilities. The proposed financing remains subject to due diligence, negotiation, and execution of definitive documentation, with no assurance the parties will complete the transaction.
0 of 1 announced date hit · 1 slipped
Certify the H500A motor and the ALIA CX300
Target H1 2026 (H500A motor); late 2025 (CX300, original commercialization target) · Resolved May 12, 2026
BETA's Q1 2026 results and earnings call (May 12, 2026) confirmed both certification dates had slipped: H500A motor certification moved past its original first-half-2026 target because of an unresolved FAA 'continued rotation' containment test that engineers have struggled to consistently induce, and ALIA CX300 type certification moved from an original late-2025 target to the second half of 2027. As of late July 2026 the CX300 target remains H2 2027 and the H500A issue remains open, though BETA has said FAA discussions are progressing well - see the current nextSteps entry.
BETA Technologies reported Q2 2026 revenue of $14.7 million on August 12, up 146% year over year and above its $8-11 million guidance range, against a net loss of $148.8 million and adjusted EBITDA of negative $109.8 million. The company raised full-year 2026 revenue guidance to $42-50 million from $39-43 million and held $1.48 billion in cash as of June 30.
BETA Technologies and the US Export-Import Bank announced intent on August 4, 2026 to expand their financing relationship with $830 million of incremental, non-dilutive financing on top of an initial roughly $170 million tranche, for up to $1 billion in total. The funding would roughly double capacity across BETA's manufacturing facilities as its commercial aircraft backlog has grown from about $1 billion to $3.9 billion since the original EXIM financing; the deal remains subject to due diligence and final documentation.
Beta Technologies unveiled the MV250 at the Farnborough International Airshow on July 20, an autonomous hybrid-electric VTOL aircraft aimed at military logistics with a 1,300-nautical-mile repositioning range, a 250-nautical-mile tactical range and a 2,000-pound payload. Sikorsky said it will integrate its MATRIX autonomy suite into the MV250, having already flown the system on Beta's conventional-takeoff CX300 within two weeks of agreeing to the partnership. Beta expects the MV250 to be ready for military exercises in 2027 and to enter production as soon as 2028.
Archer Aviation, BETA Technologies and Macquarie Capital on July 16 launched ACES - America's Consortium for Electric Skyways - a plan to build interoperable charging infrastructure at up to 250 airport and vertiport sites across the US by 2030. The network will use BETA's chargers built on the Combined Charging Standard (CCS), the open standard endorsed by the General Aviation Manufacturers Association and broadly adopted across the eVTOL industry, with initial sites prioritized in California, Texas, Florida and New York where the two air-taxi makers plan to operate. Macquarie Capital will advise the consortium and help arrange the capital to fund site acquisition and construction.
Beta Technologies and Surf Air Mobility, with Hawaiian Airlines supporting evaluation activities, launched a multi-week electric aviation demonstration program in Hawaii announced June 26 and running six to eight weeks. The campaign flies Beta's all-electric ALIA CTOL aircraft - a single-pilot fixed-wing design rated for up to five passengers, a 387-mile range and sub-one-hour charging - to gather data on performance, operating costs, maintenance, battery use and ground handling across representative interisland missions. The program is aimed at assessing the feasibility of electric aircraft for Hawaii's short inter-island passenger and cargo routes.
Publicly listed and generating revenue from motors, chargers, charging-network access, and engineering services while advancing FAA certification of the ALIA family. Q2 2026 revenue was $14.7M (up 146% YoY, beating $8-11M guidance), against a net loss of $148.8M and adjusted EBITDA of -$109.8M; FY2026 revenue guidance was raised to $42-50M and cash stood at $1.48B at June 30, 2026. The ALIA family has flown over 190,000 nautical miles (targeting 250,000 by year-end 2026) across a 138-site charging network. H500A motor certification has slipped past its original H1 2026 target, but BETA reached agreement with the FAA on the motor's continued-rotation compliance approach in Q2 2026 and has formal FAA testing underway; CX300 type certification is still targeted for the second half of 2027 (per CEO Kyle Clark, pushed back from an original late-2025 goal), with the eVTOL A250 following around 2028. BETA was selected for seven of the eight U.S. eIPP launch programs and by August 2026 was running cargo and medical-logistics missions with eIPP partners in New York, Texas, Utah, Maryland/Virginia, and Louisiana - including the program's first operational missions on July 10, 2026, using the ALIA CX300 to move United Therapeutics' manufactured organs across a Virginia-Maryland corridor. At the July 2026 Farnborough Airshow, Beta unveiled the hybrid-electric military MV250, helped set the first hybrid-electric flight above 30,000 feet with GE, NASA, and Boeing, and signed a term sheet with Loganair for up to 10 ALIA CTOL aircraft in the UK.
Aircraft Sales and Aftermarket Support
Sales of ALIA CTOL and VTOL aircraft to cargo, medical, passenger, and defense operators, plus follow-on support as customer fleets enter service.
Electric Propulsion & Flight-Critical Systems
Sales of enabling technologies to external aircraft programs - electric motors (e.g., Eve Air Mobility) and, increasingly, fly-by-wire flight control computers and software (e.g., Horizon Aircraft's Cavorite X7, selected July 2026) - alongside internal use across the ALIA family.
Charging Infrastructure and Network Access
Sales of Charge Cubes and related systems, plus recurring fees from access to BETA's growing multimodal charging network.
Defense and Engineering Services
Government and commercial engineering contracts tied to defense programs, autonomy, and aircraft deployment work, including Army-funded autonomous cargo efforts and broader mission integration. Expanded in July 2026 with the MV250 hybrid-electric military VTOL, built with GE Aerospace's CT7/T700 turbine propulsion and Sikorsky's MATRIX autonomy stack, targeting military exercises in 2027 and production as soon as 2028.
On May 29, 2026, U.S. Transportation Secretary Sean P. Duffy flew aboard BETA's ALIA aircraft at the company's South Burlington, Vermont headquarters - the first time a sitting U.S. Transportation Secretary has flown in an eVTOL. The DOT announced the visit on June 1, framing the flight as an endorsement of BETA's role across the eIPP and of advanced air mobility more broadly.
Announced June 26, 2026, BETA and Surf Air Mobility - with Hawaiian Airlines supporting evaluation activities - began a six-to-eight-week electric aviation demonstration program in Hawaii flying BETA's all-electric ALIA CTOL aircraft. The campaign gathers data on aircraft performance, direct operating costs, maintenance, battery performance and ground handling across representative interisland missions to assess the feasibility of electric aircraft on Hawaii's short inter-island passenger and cargo routes.
On July 9, 2026, Canada's Horizon Aircraft selected BETA to supply advanced fly-by-wire flight control computers and customized software for its full-scale hybrid-electric VTOL, the Cavorite X7 - deepening BETA's third-party flight-critical-systems business alongside its motor sales. The win, following the multi-year Eve Air Mobility motor supply agreement, underscores BETA's platform strategy of selling propulsion, charging, avionics, and flight-critical systems to other aircraft programs, not just building its own ALIA aircraft.
On July 10, 2026, BETA and a multistate collaborative completed the first operational flights of the U.S. DOT and FAA's eVTOL Integration Pilot Program (eIPP) - the first electric CTOL flights flown under the program. BETA's all-electric ALIA CX300 carried United Therapeutics' manufactured organs (for research, not a human recipient) across roughly 275 nautical miles between airports in Virginia (Virginia Tech Montgomery Executive in Blacksburg and Charlottesville-Albemarle) and Maryland (Frederick Municipal and Martin State near Baltimore), advancing BETA's long-standing organ-logistics partnership with United Therapeutics and its CTOL-first commercialization plan.
On July 16, 2026, BETA, Archer Aviation and Macquarie Capital launched ACES - America's Consortium for Electric Skyways - to build interoperable charging infrastructure at up to 250 airport and vertiport sites across the U.S. by 2030. The consortium standardizes on BETA's electric-aviation chargers built to the Combined Charging Standard (CCS), extending BETA's existing charging-network business (123+ sites) into a shared, industry-wide buildout, with initial deployment prioritized in California, Texas, Florida and New York. Macquarie Capital advises the consortium and will help arrange the capital to fund site acquisition and construction.
Beta's May 12, 2026 Q1 2026 results and earnings call formalize a certification timeline slip flagged earlier in the year: H500A motor certification has moved past its original first-half-2026 target because of an unresolved FAA 'continued rotation' containment test, and CEO Kyle Clark now targets ALIA CX300 type certification in the second half of 2027, down from an original late-2025 goal, with the eVTOL A250 following around 2028.
On June 16, 2026, Beta presents a roughly 100-acre master plan for its South Burlington, Vermont campus to the city's Development Review Board, replacing the 40-acre plan approved in 2023. The plan would move large-components manufacturing in-house and expand technician training capacity over the next decade, adding to a headcount that grew by about 420 employees in the first half of 2026 alone.
On July 20, 2026, GE Aerospace, NASA, Boeing, and Beta announce the world's first hybrid-electric flight above 30,000 feet - commercial cruise altitude - using a modified Saab 340B testbed and GE's megawatt-class hybrid-electric propulsion system developed under NASA's Electrified Powertrain Flight Demonstration (EPFD) program. Beta acted as systems integrator and operated hybrid-electric flight legs during the more-than-two-hour test, extending its propulsion and flight-test expertise beyond the ALIA family into single-aisle commercial aircraft research.
At the Farnborough International Airshow on July 20, 2026, Beta formally unveils the MV250, a derivative of the crewed A250 built as an autonomous, hybrid-electric VTOL for contested military logistics. It pairs a GE Aerospace CT7/T700 hybrid-electric turbine propulsion system with Sikorsky's MATRIX autonomy stack (used on Sikorsky's pilotless Black Hawk demonstrator), and is specified at a 1,300-nautical-mile reposition range, a 250-nautical-mile tactical range with a 2,000-lb payload, and cruise speed above 170 knots. Beta targets military exercises with the MV250 in 2027 and production as soon as 2028; shares rose nearly 12% on the announcement.
On July 20, 2026, UK regional carrier Loganair and Beta sign a term sheet for up to 10 all-electric ALIA CTOL (CX300) aircraft - 5 firm plus 5 options - which Loganair says will make it Europe's first commercial airline operating an electric aircraft fleet, with entry into service targeted for 2029. The deal follows a UK demonstration program in which Beta's CTOL flew 23 flights in 10 days across Loganair's network in March 2026.
BETA reports Q2 2026 revenue of $14.7 million on August 12, up 146% year over year and above its $8-11 million guidance range, against a net loss of $148.8 million and adjusted EBITDA of negative $109.8 million. The company raises full-year 2026 revenue guidance to $42-50 million from $39-43 million and reports $1.48 billion in cash as of June 30, 2026. Operationally, BETA reports its ALIA family has flown over 190,000 nautical miles (targeting 250,000 by year-end 2026), its charging network has grown to 138 sites (seven activated in the quarter), and the company reached agreement with the FAA on the H500A motor's continued-rotation compliance approach, having completed durability and lightning-strike teardowns and substantially completed software requirements-based testing, with formal FAA testing now underway.
On July 21, 2025, Hartzell Propeller receives FAA Part 35 type certification for the five-bladed, fixed-pitch pusher propeller it designed and tested with BETA for the H500A motor - the first propeller certified specifically for an electric aircraft powerplant. Certification followed thousands of hours of ground and flight testing over four years, including novel load cases such as regeneration (using the propeller as a wind turbine to help recharge the aircraft's batteries), marking a component-level milestone directly supporting BETA's H500A motor and ALIA CX300 aircraft certification programs.
Kyle Clark flies an ALIA prototype over 1,400 miles from Plattsburgh, New York to Bentonville, Arkansas, charging at Beta's own charging stations along the route - demonstrating the viability of the charging network. Secures U.S. Air Force Agility Prime contracts.
Cumulative disclosed raise · dated rounds
Airbus
eVTOL +2
Airbus is Europe's largest aerospace company, spanning commercial aircraft, helicopters, defence and space. In civil aviation it remains Boeing's only true peer at global scale and is pairing near-term production growth with longer-term work on lower-carbon aircraft technologies, future single-aisle designs and hydrogen propulsion. The company combines a mature global airliner business with broader aerospace capabilities across defence, space and rotorcraft. Q1 2026 was unusually weak - 114 deliveries (vs. 136 a year earlier), revenue down 7% to EUR 12.65B and adjusted EBIT halved to EUR 300M due to Pratt & Whitney engine shortages and Chinese delivery disruptions - but Airbus reaffirmed full-year 2026 guidance of ~870 deliveries, EUR 7.5B adjusted EBIT and EUR 4.5B free cash flow, with a record commercial backlog above 9,000 aircraft. Output recovered strongly through mid-year: official figures reported July 10 showed 351 deliveries in H1 2026 (up ~15% YoY), Airbus's best first half since 2019, and the backlog stood at 9,216 aircraft at end-June. At a measured Farnborough Airshow (July 20-24, 2026) Airbus booked roughly 157 firm commercial orders plus commitments (of a show-wide $84.7B / 353 firm aircraft), headlined by SMBC Aviation Capital's 100 A320neo-family jets, VietJet's 20 A330neos (~$7.4B), and new A350-1000 orders from Riyadh Air and Philippine Airlines, with CEO Guillaume Faury reaffirming the ~870-delivery full-year target. On July 26 Airbus announced a EUR 5B share buyback and raised medium-term targets, and on July 29 it reported H1 2026 results: revenue up 12% YoY to EUR 33.2B on 351 deliveries, powered by a record Q2 (237 deliveries, +39% YoY). Airbus's official July tally, published August 7, showed the delivery pace cooling further to 67 aircraft (39 customers) and 204 gross orders, taking YTD deliveries to 418 versus 373 at the same point in 2025 - still 51 aircraft ahead of Boeing (367 YTD) but below the roughly 85-90/month cadence needed to reach the 870-aircraft target. Two supply and schedule risks continue to shadow the ramp: Airbus's dispute with Pratt & Whitney over shorted A320neo engine deliveries has hardened into a formal damages claim that could go to arbitration, and Leeham News reported August 11 that the A350F's first delivery could slip from late 2027 into 2028 given its compressed flight-test-to-certification schedule, though Airbus publicly maintains there is 'no change in timeline.' Airbus's stock has held up despite the noise, with a market cap of roughly $190B in mid-August 2026.
Archer Aviation
eVTOL +2
Archer Aviation is an electric aircraft company building Midnight, a piloted four-passenger eVTOL for short urban trips, while expanding into defense, powertrain sales, and aviation software. As of Q1 2026 Archer had passed 700 Midnight test flights, completed 70% of for-credit FAA flight-test points, and formally closed FAA Phase 3 in April 2026 - the first eVTOL company to do so - unlocking Type Inspection Authorization (TIA) and entering Phase 4 (formal compliance testing). In the UAE, the GCAA transitioned Midnight to a Restricted Type Certificate (RTC) program on May 7, 2026, targeting initial commercial certification as early as Q3 2026 - meaning Abu Dhabi is likely to see the first Midnight passenger flights before the U.S. The critical remaining FAA milestone is a publicly demonstrated piloted transition flight (VTOL→forward-flight mode), which is slated for H2 2026 and had still not been publicly demonstrated as of late July 2026. U.S. operations are targeted for H2 2026 in Florida, New York, and Texas under the eIPP. Archer is also the named official air taxi provider of the 2028 LA Olympics. On July 15, 2026, Archer unveiled Zee, an aviation-specific AI foundation model trained on ADS-B, air-traffic, and flight data, extending its ambitions beyond air taxis into aviation software. On July 20, 2026 at the Farnborough Airshow, Archer and Anduril unveiled a jointly-developed autonomous, series hybrid-electric tilt-rotor VTOL platform - a defense variant, Anduril's Group 5 'Thunder' attack rotorcraft, and Archer's commercial 'Halo' variant - sending Archer shares up about 20%. On August 3, 2026, Korean Air - which agreed in October 2025 to become Archer's exclusive commercialization partner in South Korea for up to 100 Midnight aircraft - said it will lead conversion and systems integration of a militarized Midnight variant for South Korea's Advanced Air Mobility defense program, extending Archer's defense ambitions into an international export partnership. On August 10, 2026 Archer reported Q2 2026 revenue of $5M (up 213% sequentially, beating estimates) but a wider-than-expected GAAP loss of $0.34/share on a one-time litigation settlement; Adjusted EBITDA loss was $177M and total liquidity fell to about $1.6B, and the company held Q3 2026 Adjusted EBITDA guidance at a loss of $170-200M. Archer also disclosed that during the quarter the FAA approved its quality management system, enabling FAA-creditable conformity findings across the aircraft, its components, and systems - Archer says this makes it the only eVTOL OEM in Phase 4 of type certification with an accepted means of compliance, on top of more than 150 piloted Midnight test flights completed (some exceeding 50 miles). The same day, Archer announced a deal to acquire Boeing's Wisk Aero, Insitu and SkyGrid businesses in exchange for a Boeing equity stake of up to 19.75%, a transaction still subject to Hart-Scott-Rodino antitrust review and expected to close by year-end 2026.
Joby Aviation
eVTOL +2
Joby Aviation is a California-based transportation company developing a piloted, all-electric air taxi for commercial passenger service. The company completed FAA Stage 4 certification in late March 2026 and is now in Stage 5 (Type Inspection Authorization), the final gate before U.S. commercial type certification, which analysts expect in late 2026 - Q2 2026 was its strongest quarter of certification progress yet, with five conforming aircraft flying and 12 more in production. On July 7, 2026 the UAE's GCAA certified its flagship Dubai vertiport (VDX at DXB) as the world's first certified commercial eVTOL vertiport, clearing the network for a public launch directed before year-end, and in early August 2026 Joby established a U.S. hub at Perot Field Fort Worth Alliance Airport ahead of planned eIPP demonstration flights there in September 2026. The company reported Q2 2026 revenue of $38.6M (beating estimates), ended the quarter with $2.3B in cash and short-term investments, and raised full-year 2026 revenue guidance to $115M-$125M. Joby expects to carry its first paying passengers in the UAE and through the White House-backed eIPP program in the U.S. in 2026.
Eve Air Mobility
eVTOL +1
Eve Air Mobility (Eve Holding) is the Embraer-backed eVTOL developer, spun out of the EmbraerX innovation arm in 2020 and NYSE-listed since a 2022 SPAC merger, with Brazilian BDRs on the B3 since 2025. Its lift-plus-cruise aircraft - eight fixed-pitch lift rotors, a pusher propeller, Embraer fifth-generation fly-by-wire, four passengers plus a pilot, ~100 km range - flew its full-scale engineering prototype for the first time in December 2025, completed a 59-flight hover/low-speed test block in May 2026, and on August 3, 2026 flew its first partial transition flight with the pusher propeller engaged, reaching a stabilized 27 knots. Eve holds one of the industry's largest order pipelines: ~2,700 aircraft (~$13.5B at list price) in non-binding LOIs from 27 customers across nine countries, plus ~$500M in binding orders from Revo (São Paulo) and Japan's AirX. ANAC type certification and entry into service are targeted for 2028, with the aircraft design set to freeze by year-end 2026 ahead of a first crewed conforming-prototype flight in the second half of 2027. The company reported $531.3M in total liquidity at Q2 2026 that it says funds it through certification, and a Taubaté, Brazil plant scaling to 480 aircraft/year. It also sells Vector, its urban air-traffic-management software, to 14 customers.
Vertical Aerospace
eVTOL +1
Vertical Aerospace is a Bristol, UK-based eVTOL developer building Valo, a piloted electric air taxi, and is the last major independent European player after the collapses of Lilium and Volocopter. Founded in 2016 by OVO Energy's Stephen Fitzpatrick, it listed on the NYSE in 2021 and survived a 2024 financial restructuring that made Mudrick Capital its controlling shareholder. In April 2026 its VX4 prototype completed the world's first piloted two-way eVTOL transition flight under civil DOA regulatory oversight - only the second company globally to achieve piloted transition - and its third full-scale prototype joined the test campaign in June 2026. The production aircraft, unveiled as Valo in December 2025, is backed by ~1,500 conditional pre-orders worth ~$6B from American Airlines, Avolon, Bristow, GOL, and Japan Airlines. On July 13, 2026 Vertical re-baselined its UK CAA/EASA type certification target from 2028 to 2029, and it is also developing a hybrid-electric Valo variant with up to 1,000 miles of range for defense and logistics markets.
Boeing
Civilian Aircrafts +1
Boeing is one of the world's largest aerospace companies, spanning commercial airplanes, defense and space systems, and aftermarket services. The 2026 turnaround gathered pace through the first half of the year: 314 commercial deliveries in H1 2026 (its best first half since 2018), a Q2 net loss of $428M on $24.6B of revenue that nonetheless produced the company's first positive free cash flow quarter (+$631M) in over a year, and a record total backlog of $715B including more than 6,200 commercial aircraft. The 737 MAX line reached rate 47 per month in May 2026 and gained a fourth final-assembly line - the Everett 'North Line' - in July, with rate 52 targeted for early 2027. At the Farnborough Airshow (July 20-24, 2026) Boeing booked 170+ aircraft led by SMBC's 100-jet 737 MAX order, while the long-delayed 777X neared its certification finish line even as Emirates declined to accept the first 10-11 early-build 777-9s over their age and GE Aerospace temporarily paused GE9X engine shipments pending a durability fix. The FAA certified the 737 MAX 7 on August 3, 2026, clearing the smallest MAX variant after nearly a decade of review, and on August 10 Boeing agreed to sell its Wisk Aero, Insitu, and SkyGrid subsidiaries to Archer Aviation for a near-20% equity stake. July's delivery pace cooled to 53 aircraft (down 17% from June and now trailing Airbus by 51 aircraft year-to-date, 367 vs 418), and Boeing's roughly 17,000 SPEEA-represented engineers are voting through August 21 on a contract their own bargaining councils declined to endorse, with a strike-authorization question on the same ballot ahead of the October 6 contract expiration. Boeing shares have nonetheless rallied to a market cap of roughly $183B, up from $167B in late July. Boeing remains one of the two central global commercial-jet manufacturers alongside Airbus, with its trajectory now hinging on sustaining the 737 ramp without reintroducing defects, closing out 737 MAX 10 certification, avoiding an engineers' strike, and steering the 777X's remaining ETOPS testing toward 2027 certification.