eVTOL

Joby Aviation

S

Public (NYSE: JOBY)

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. Joby demonstrated the first-ever eVTOL point-to-point flight from JFK Airport to Manhattan in April 2026, and 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. The company ended Q1 2026 with $2.5B in cash. 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.

Archer Aviation

A

Public (NYSE: ACHR)

Archer Aviation is an electric aircraft company building Midnight, a piloted four-passenger eVTOL for short urban trips, while expanding into defense and powertrain sales. 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. 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 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%. The company ended Q1 2026 with $951M cash and $1.8B total liquidity.

Beta Technologies

A

Public (NYSE: BETA)

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 — including a new 100-aircraft Surf Air Mobility partnership — and had accumulated 139,000+ nautical miles of flight testing across a 123-site charging network. Beta was selected for seven of the eight U.S. eIPP launch programs, and U.S. Transportation Secretary Sean Duffy flew an ALIA at Vermont HQ in May 2026. In July 2026, BETA flew the first operational missions of the U.S. DOT and FAA's eVTOL Integration Pilot Program (eIPP), using the ALIA CX300 to carry United Therapeutics' manufactured organs across a ~275-nautical-mile Virginia–Maryland corridor. Q1 2026 revenue was $10.1 million, with FY2026 guidance of $39–$43 million. H500A motor certification has slipped past H1 2026 due to an unresolved FAA 'continued rotation' test challenge, while CEO Kyle Clark now targets ALIA CX300 type certification in the second half of 2027 (with the A250 eVTOL following around 2028).

EHang

A

Public (Nasdaq: EH)

EHang is a Guangzhou-based autonomous aerial vehicle company and the regulatory first-mover of the global eVTOL industry. Its pilotless two-passenger EH216-S holds the world's first type certificate (October 2023), standard airworthiness certificate, production certificate, and — since March 2025 — the first air operator certificates for pilotless passenger eVTOLs, all from China's CAAC. Its certified operators have flown 3,000+ trial commercial missions in Guangzhou and Hefei with zero accidents, though the public ticketed launch has slipped past its original March 2026 target pending additional CAAC requirements. EHang delivered 221 aircraft in 2025 and debuted the VT35, a long-range (200 km) lift-and-cruise eVTOL, in October 2025. Its aircraft have flown in 22 countries, with recent firsts in Qatar, Mexico, and Switzerland, and a Hong Kong regulatory-sandbox selection in June 2026. Audited FY2025 revenue was RMB418M, about 18% below the unaudited figure, and the stock is down ~58% in 2026 amid regulatory delays and sector headwinds.

Aridge

A

Private (XPeng affiliate; HK IPO filed)

Aridge — known as XPeng AeroHT until an October 2025 rebrand — is the Guangzhou-based flying-car affiliate of EV maker XPeng, majority-owned by XPeng and its CEO He Xiaopeng. Its flagship Land Aircraft Carrier pairs a six-wheel hybrid van with a detachable two-seat eVTOL air module that the van stores, recharges, and auto-launches. The company has taken 7,000+ pre-orders at under RMB 2M apiece (including a 600-unit Middle East bulk order), completed the world's first flying-car mass-production factory in Guangzhou (first module off the line November 2025, 10,000 units/year design capacity), and has raised roughly $1B in equity — with first customer deliveries targeted for late 2026 pending CAAC certification and a confidential Hong Kong IPO filed in January 2026. A six-seat hybrid tiltrotor, the A868, is in flight testing.

AutoFlight

A

Private

AutoFlight (Shanghai Fengfei Aviation Technology) is a Shanghai-based eVTOL developer founded by Yuneec founder Tian Yu, with R&D and certification outposts in Augsburg, Germany and Shenzhen. It leads the world in cargo eVTOL: its autonomous 2-ton CarryAll (V2000CG) holds the complete CAAC certificate set — the world's first ton-class eVTOL type certificate (March 2024), production certificate (December 2024), and airworthiness certificate with first customer delivery (July 2025) — plus the world's first overseas eVTOL type-certificate validation, from Indonesia's DGCA in June 2026. CarryAll flies real missions, from offshore oil-platform resupply with CNOOC to mountain tea logistics in Guizhou. The passenger Prosperity, which set a 250.3 km world-record eVTOL flight in 2023 and flew the first cross-sea Shenzhen–Zhuhai demo in 2024, is in CAAC type certification, and a 5.7-ton, 10-seat V5000 'Matrix' platform entered certification in 2026. Backed by ~$100M from Team Global and a strategic investment of 'hundreds of millions of dollars' from battery giant CATL.

Eve Air Mobility

A

Public (NYSE: EVEX)

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 and completed a 59-flight hover/low-speed test block in May 2026, with transition flights slated for summer 2026. Eve holds the industry's largest order pipeline: ~2,700 aircraft (~$14B) in non-binding LOIs from 28 customers plus ~$500M in binding orders from Revo (São Paulo) and Japan's AirX. ANAC type certification and entry into service are targeted for 2028 (revised from 2027 in May 2026), backed by a record $577.7M in liquidity the company 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.

Wisk Aero

B

Private (Boeing subsidiary)

Wisk Aero is Boeing's wholly-owned autonomous air taxi subsidiary, pursuing the industry's most distinctive strategy: skipping piloted service entirely. Its Generation 6 aircraft — the first candidate for FAA type certification of an autonomous eVTOL — carries four passengers with no pilot aboard, flown by onboard automation under ground-based multi-vehicle supervisors. Formed in 2019 as a Boeing–Kitty Hawk joint venture carrying forward the Cora program (Boeing took full ownership in 2023), Wisk has flown 1,750+ test flights across six aircraft generations. Gen 6 made its first flight in December 2025, a second aircraft joined the certification campaign in May 2026, and in March 2026 Wisk and Texas were selected under the White House-backed eIPP to lead the introduction of autonomous air taxi flight in the U.S. Launch markets are Houston, Los Angeles, and Miami around 2030, with Brisbane targeted by the 2032 Olympics.

Vertical Aerospace

B

Public (NYSE: EVTL)

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.