TipRanks
5 min read
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On Friday, June 6th, President Trump signed an Executive Order to “unleash American drone dominance,” which included directing the Transportation Department to develop an Electric Vertical Takeoff and Landing (eVTOL) program to accelerate eVTOL operations in the U.S.
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Aside from confirming the specter of space-age technology making its way onto American streets, as foreshadowed by content creators for generations, leading electric aircraft manufacturer Joby Aviation (JOBY) stands well-positioned to capitalize fully on the evolving opportunity. The company has been making headlines with major partnership announcements and impressive funding rounds. After analyzing recent developments and financial performance, I am bullish on the space and Joby Aviation’s potential.
Joby Aviation is playing a leading role in the transformation of the aviation industry through the development of electric vertical takeoff and landing (eVTOL) aircraft. The global eVTOL market was valued at approximately $760 million in 2024 and is projected to grow significantly, reaching an estimated $17.34 billion by 2035.
Beyond aircraft manufacturing, Joby is building a comprehensive ecosystem that includes pilot training initiatives and proprietary dispatch software. This vertically integrated approach may offer substantial competitive advantages if executed effectively.
While the company operates in a competitive landscape with peers such as Archer Aviation (ACHR) and EHang (EH), strategic partnerships—including a manufacturing collaboration with Toyota and operational agreements with Delta Air Lines—enhance its credibility. Additionally, contracts with the U.S. Department of Defense further diversify potential revenue streams and support the broader validation of its technology across both commercial and government sectors.
Joby has been on a notable run lately, with shares climbing over 22% in the past month, thanks to several major announcements that have investors excited.
One of the most significant catalysts came in May when Toyota made a substantial $250 million investment in the company, becoming Joby’s largest shareholder in the process. Toyota’s involvement brings decades of production expertise and operational know-how that could prove invaluable as Joby scales from prototype to mass production.
