Air taxi firm Joby acquires defense tech company for $500 million

Electric air taxi company Joby Aviation announced on Tuesday its acquisition of defense technology firm Resonant Sciences for roughly $500 million, as it seeks to expand its presence in the growing defense market (1). The eVTOL industry is increasingly targeting the military sector, given the delayed commercial development and increased defense spending fueled by conflicts in Ukraine and the Middle East (2).

Joby announced that it plans to continue developing its air taxi eVTOL while relocating its defense programs, such as hybrid and autonomous VTOL projects, under Resonant Sciences (3). Resonant, headquartered in Dayton, Ohio, specializes in designing, manufacturing, and delivering advanced radio-frequency and mission systems for U.S. national security customers (4).

The combined technologies will enable Joby's commercial team to concentrate solely on delivering its air taxi mission while potentially venturing into new markets by integrating Resonant's technologies (5).

Joby CEO JoeBen Bevirt revealed that the acquisition will allow the company to fund the deal primarily through $450 million in cash and $50 million in its common stock (6). The transaction, anticipated to be completed in the first half of 2027, will grant the merged company approximately 1 million square feet of manufacturing, integration, and testing space across the Dayton region (7).

Following the completion of the deal, Resonant will serve as Joby's dedicated defense business, encompassing its hybrid aircraft and autonomy technologies, while Joby's commercial aircraft business will continue to focus on its electric air taxi initiatives (8).