The Pentagon Is Buying eVTOLs. Here's Which Stock Wins the Defense Money.
Archer's defense strategy could give it an edge over Joby.
The U.S. Department of Defense has been investing heavily in electric vertical takeoff and landing (eVTOL) aircraft, with two companies, Archer Aviation and Joby Aviation, reaping the rewards. Archer Aviation appears to have the stronger defense opportunity at this time. Archer secured a contract with the Air Force's Agility Prime program, which is worth up to $142 million.
The company demonstrated its Midnight aircraft to the military in 2024, following a military airworthiness assessment. The eVTOL is being evaluated for a range of missions, including personnel transport, logistics, medical evacuation, and intelligence and surveillance. Joby Aviation also received a significant defense contract, valued at up to $131 million, with plans to supply up to nine aircraft.
Joby has already showcased its capabilities by operating aircraft at Edwards Air Force Base and is currently researching autonomous flight technologies. Despite Joby's success, Archer Aviation is the preferred choice for its stronger defense prospects.
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