Wall Street’s excitement around Joby Aviation (JOBY) stems from the promise its air taxi program holds, a tangible step toward the flying car future once reserved for science fiction.
But as Joby pushes ahead on commercial electric vertical takeoff and landing (eVTOL) aircraft, the company is also expanding its ambitions into the defense sector.
On Friday, Joby announced a partnership with L3 Harris Technologies (LHX) to co-develop a new gas turbine hybrid vertical takeoff and landing (VTOL) aircraft.
The company called it “a new aircraft class for defense applications.”
The hybrid VTOL is designed for low-altitude missions and can operate either fully crewed or autonomously. The companies expect to begin flight testing this fall, with operational demonstrations slated for 2026.
L3 Harris brings its expertise in mission systems, including sensors, effectors, communications, and collaborative autonomy, to the project.
“We have worked closely with the Department of Defense over the past decade to give them a front row seat to the development of our dual-purpose technologies, and we're now ready to demonstrate and deploy it,” said Joby founder and CEO JoeBen Bevirt.
Joby also said it is “actively developing” a gas turbine hybrid powertrain for its current S4 aircraft platform and has demonstrated “aircraft-level autonomy” following its acquisition of Xwing’s autonomy division in June 2024.
Under a separate government contract, the company showcased an “industry-first” 561-mile hydrogen-electric hybrid flight last June — proof that its platform can be adapted for longer-range missions.
Following the announcement, Joby’s shares rose 3% on Friday. The stock is now up 111.7% year-to-date.
But Joby isn’t alone in pivoting from commercial to defense. Rival Archer Aviation (ACHR) is aggressively scaling up its military ambitions. In December, Archer raised $430 million to launch its Archer Defense division in partnership with weapons manufacturer Anduril.
Two months later, Archer raised another $300 million to speed up hybrid aircraft development.
“I believe the opportunity for advanced vertical lift aircraft across defense appears to be substantially larger than I originally expected,” said Archer CEO Adam Goldstein.
Meanwhile, Joby is preparing to launch its first commercial passenger flights in the UAE next year.
The company announced last month it would expand its Marina, California manufacturing facility to double aircraft production. The site now spans roughly 435,500 square feet and will support the scale-up of Joby’s commercial operations.
Your email address will not be published. Required fields are markedmarked