The US Air Force entered into a contract with Archer Aviation Inc. to purchase six electric vertical take-off and landing (eVTOL) aircraft in a deal worth up to $142 million. The agreement is an expansion of Archer's partnership with the Pentagon and represents a move by the world's largest military to pursue new flight technology for the modern battlefield.
Archer first partnered with the Pentagon in 2021 on a series of projects through the Air Force's AFWERX (work project) program to accelerate development in the vertical flight market. The purchase announced on Monday of six Midnight electric air taxis will provide an alternative to helicopters for personnel transport, logistics support, and rescue missions.
"This expansion of Archer's partnership with the DoD represents a significant investment in the future of the country and will help ensure the US maintains its leadership position in aviation," Archer wrote in a press release.
Now, with Archer recently completing the manufacturing of its first Midnight aircraft, the DoD recognizes that with its vertical takeoff and landing capabilities, target payload of approximately 1,000lbs, proprietary electric powertrain system, and low noise profile, Archer's aircraft represents a potential paradigm shift in military aviation and operations. These aircraft hold the promise of enhancing rapid response, agility, and operational effectiveness across a wide range of mission profiles, from personnel transport and logistics support to rescue operations and more. -- the company wrote
"This historic agreement reflects the steadfast commitment by our Armed Forces to embrace the cutting-edge technology our eVTOL aircraft offer," said Adam Goldstein, Archer's Founder and CEO.
Goldstein continued, "It's clear that the development and commercialization of eVTOL technology continues to remain a national priority. We look forward to working closely with the US Department of Defense and the US Air Force to integrate Midnight into their operational fleet with a focus on transport, logistics and rescue operations."
Besides Archer, Joby Aviation has already received orders from the Pentagon for its eVTOLs. Joby expects to deliver its first eVTOL to the USAF in 2024.
Archer shares jumped as much as 12%, and Joby shares were up 4.5%.
While the Pentagon is ramping up eVTOL orders, the Federal Aviation Administration is preparing for nationwide flying taxi operations by 2028.
And if you want to get in on the action, let's say owning an Alef Aeronautics' "Model A" flying car for recreational purposes -- the pilot in command will likely need an airlift or eVTOL rating, which means you'll need a private pilots license to operate in controlled airspace.
