eVTOL industry pivot to military applications
The developments in this story so far, most recent first.
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Development
Air taxi developers pivot to military market amid certification delays
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· date approximate Background
Vertical Aerospace moved its commercial certification target from 2025 to 2029.
Vertical Aerospace, a UK-based developer, adjusted its timeline for commercial operations. According to reports, the company moved its target for commercial certification from 2025 to 2029.
This shift occurred as air taxi developers have begun pivoting toward military markets in response to rising costs and delays in securing civil certifications.
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· date approximate Background
Major air taxi developers' stock prices lost more than 50% over the last year.
Over the last year, the stock prices of major air taxi developers fell by more than 50%. These financial losses coincided with rising costs and delays in obtaining civil certifications.
In response to these pressures, manufacturers are pivoting toward the military market. As part of this transition, some developers have announced plans to conduct mission demonstrations for government agencies by 2026.
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Date unknown Background
Joby Aviation's demonstrator aircraft completed its first flight.
Joby Aviation's demonstrator aircraft successfully completed its first flight.