Joby and Archer Are Racing to FAA Certification While Burning Hundreds of Millions a Year. Here's the 1 Number That Picks the Winner.

Joby Aviation and Archer Aviation are locked in a competition to secure Federal Aviation Administration (FAA) certification for their electric vertical take-off and landing (eVTOL) aircraft. While this certification will not ultimately determine which company emerges as the long-term winner due to their differing business models, it will significantly reduce the risks associated with their investments.

The key number to watch in this race is the achievement of FAA TIA (Type Inspection Authorization) by each company, as it will enable final testing to commence. Joby Aviation is currently considered ahead, as it has already conducted a flight of an FAA-conforming eVTOL and has five electric air taxis in operation. However, Archer Aviation is also actively pursuing certification, with its management actively working on for-credit testing in 2023.