Summary Electric propulsion advances enabled eVTOL technology. eVTOL aircraft address urban air mobility needs. Leading eVTOL companies aim for regulatory compliance in 2024-2025.
An electric vertical take-off and landing ( eVTOL ) aircraft is a variety of VTOL aircraft that uses electric power to hover, take off, and land vertically. The eVTOL aircraft of today evolved from mere concept models as few as five years ago. Significant advances in electric propulsion, including motors, batteries, fuel cells, and electronic controllers, have made eVTOL technology possible.
eVTOL aircraft are under development to meet the emerging need for new aerial vehicles for urban air mobility. In decades past, reciprocating—and turbine-powered rotary-wing aircraft filled the need. However, helicopter operations faced safety challenges in the urban environment and were expensive to acquire and operate.
eVTOL aircraft address safety and cost issues and enable greener and quieter flights. Various companies, including legacy manufacturers such as Airbus , Boeing , Embraer , Honda , Hyundai , and Toyota , and several start-up companies, are developing original eVTOL aircraft designs. The eVTOL (electric Vertical Take-Off and Landing) industry is rapidly advancing, with several companies leading this disruptive aviation sector.
Here are five leading eVTOL companies and their background, funding, business plans, and regulatory challenges. 1 Joby Aviation An early pioneer in the eVTOL space Background and History: Founded in 2009 and headquartered in Santa Cruz, California, Joby Aviation is a pioneer in the eVTOL space. The company has been actively developing its eVTOL aircraft, focusing on creating an electric aerial ridesharing service.
Funding: Joby has attracted significant investment, including a notable partnership with Toyota, which invested $394 million in 2020. The company went public via a SPAC merger in 2021, raising further capital. Business Plan: Joby aims to launch an electric aerial ridesharing service that offers fast and efficient urban air mobility.
Their eVTOL can carry a pilot and four passengers, has a range of 150 miles, and can reach speeds of up to 200 mph. Regulatory Hurdles: Joby is engaged in a multi-year testing program with the FAA and has applied for certification in several countries, including Japan and the UK. The company has already received the CFR Part 135 Air Carrier Certificate.
2 Archer Aviation A Silicon Valley company targets the tough Manhattan-Newark market Capacity The Midnight can carry four passengers and one pilot. Range It has a maximum range of up to 100 miles (approximately 160 km). Speed The aircraft can reach a maximum speed of 150 mph (approximately 241 km/h).
Payload It is designed to carry a payload of approximately 1,000 pounds (about 454 kg). Noise Level The aircraft operates at a noise level of 45 dBA during forward flight, significantly quieter than traditional helicopters. Background and History: Based in San Jose, California, Archer Aviation focuses on developing eVTOL aircraft for urban air mobility.
The company is founded on the vision of transforming how cities move. Funding: Archer has secured substantial funding, including a $1 billion order from United Airlines for 200 eVTOL aircraft, with an option for 100 more. Business Plan: Archer plans to deploy 6,000 eVTOLs by 2030 and launch an electric aerial ridesharing service.
They are also working on a route from Manhattan to Newark Liberty International Airport, expected to start in 2025. Regulatory Hurdles: Archer is working towards FAA certification, having received a Special Airworthiness Certificate, which allows for test flight operations in the US. 3 Eve Air Mobility Embraer spinoff is in the race to provide urban air mobility Foundation : Eve Air Mobility was founded on October 15, 2020, as part of Embraer's innovation division, EmbraerX .
Location : The company is headquartered in Melbourne, Florida, USA . Stock Market : Eve is publicly traded on the New York Stock Exchange under the ticker symbols "EVEX" and "EVEXW." Background and History: Eve Air Mobility, based in Florida, emerged from Embraer-X, an innovation division of Embraer.
The company focuses on developing eVTOL solutions for urban air mobility. Funding: United Airlines has shown interest in Eve's technology, with plans to purchase up to 400 eVTOLs, with deliveries expected as early as 2026. Business Plan: Eve aims to enter the electric flying taxi sector, offering quieter and more cost-efficient helicopter alternatives.
They plan to launch with a four-passenger capacity, expanding to six once autonomous flight is permitted. Regulatory Hurdles: Eve is working on meeting regulatory requirements for commercial operations, which are expected to be in place by 2025. 4 Vertical Aerospace British company plans to fly pax, medevac, and cargo Background and History: Headquartered in Bristol, England, Vertical Aerospace is developing the VX4 eVTOL aircraft, which was unveiled in 2020.
Funding: Vertical Aerospace attracted investment from high-profile backers, including American Airlines and Rolls-Royce. Business Plan: The VX4 is designed for various applications, including passenger travel, medical evacuation, and cargo transport. The company aims to have the aircraft certified and operational by 2025.
Regulatory Hurdles: Vertical Aerospace is working on global certification for its VX4 eVTOL, navigating the complex regulatory landscape across different ICAO, EASA, and other jurisdictions. 5 Wisk Aero A California autonomous air taxi with backing from Boeing Background and History: Based in Mountain View, California, Wisk Aero is developing autonomous eVTOL air taxis. Boeing acquired the company in 2023 and has bolstered its development efforts.
Funding: Wisk benefits from Boeing's financial backing, which supports its research and development initiatives. Business Plan: Wisk is developing an autonomous air taxi capable of carrying four passengers. The company aims to integrate its eVTOLs into urban air mobility networks, offering a new mode of transportation.
Regulatory Hurdles: Wisk faces challenges in certifying autonomous flight, which requires meeting stringent safety and operational standards. The company is actively working with regulators to achieve the necessary approvals. The eVTOL company faces regulatory challenges due to the novel nature of the aircraft and plans for autonomous flight.
The FAA and EASA are developing new frameworks to certify eVTOLs, which involve type certification, production certification, and operational authorization. These processes are complex due to, among other things, the need for specialized pilot and operator training and the integration of eVTOLs into existing airspace management systems. Additionally, safety concerns such as battery fire risks and noise pollution are critical factors regulators must address.
As the industry moves forward at the pace of technology companies, achieving regulatory compliance within a reasonable timeline is vital for the commercial success of eVTOL companies. This marks the second public appearance for Wisk after Oshkosh..
