Archer Aviation

Last updated
Archer Aviation Inc.
Company type Public
ISIN US03945R1023
Industry Aviation, Advanced Air Mobility
Founded16 October 2018;6 years ago (2018-10-16)
Founders
Headquarters
San Jose, California, U.S.
Area served
Worldwide
Key people
Adam Goldstein (CEO), Tom Muniz (COO), Mark Mesler (CFO)
ProductsElectric aircraft
Revenue$0 million (2023)
Increase2.svg -$317.3 million (2023)
Total assets Decrease2.svg $578.3 million (2023)
Total equity Decrease2.svg $493.3 million (2023)
Number of employees
483 (2023)
Website archer.com

Archer Aviation Inc. is a publicly traded company headquartered in San Jose, California, which is developing eVTOL aircraft. [1] [2] [3]

Contents

Its eVTOL aircraft is designed to allow airline operators to transport people in and around cities in an air taxi service and are claimed to have a range of up to 100 miles (160 km) at speeds of up to 150 miles per hour (240 km/h). [4] [5] [6] [7] [8] United Airlines is its first major corporate partner, having ordered two hundred Archer electric aircraft. [9] [10] [11]

Aircraft and air taxi service

Maker, Archer's first demonstrator aircraft, was unveiled on June 10, 2021, at an event in Los Angeles, California. Maker is a two-passenger fully electric vertical takeoff and landing aircraft with 12 electric propellers: [12] six tilt-props (each with five blades) for forward and VTOL flight and six stationary propellers (each propeller with two blades) for VTOL-only flight. Maker is designed to travel at up to 150 miles per hour (240 km/h) over 60 miles (97 km). The aircraft is powered by six independent battery packs. [10] [13] [14] [15] [16] [17] In November 2021, Archer moved Maker from its headquarters to its flight test facility to start initial test flights. [18] Maker also received its airworthiness certificate from the FAA in December 2021. [19] Archer also completed its first flight in December 2021. [20] [21] [22]

Archer's aerial ridesharing service, also referred to as Urban Air Mobility (UAM), has been pushed back one year to 2025 and is planned to begin operations in Miami, Florida and Los Angeles, California. [23] [24] [25] Archer is working with Urban Movement Labs and the Los Angeles Department of Transportation to help build the necessary infrastructure and service routes. [5] It is also working with the City of Miami on similar plans. [23]

History

Archer was founded on October 16, 2018, by Brett Adcock and Adam Goldstein to develop electric vertical takeoff and landing aircraft. [26] [17] The company was originally started by Adcock and Goldstein and privately funded. [27] [17] [28] [29] [30] Later, Marc Lore, a Walmart executive, also supported its launch. [31]

In 2022, Adcock departed from the both the leadership team and the board. [32] [33] Goldstein is currently the sole CEO and Chairman of the Board of Directors of the company. [34] [35]

Initially, Archer worked on developing aircraft with the Herbert Wertheim College of Engineering at the University of Florida; Adcock and Goldstein are both alumni. [36] Archer now operates a research lab on the University of Florida's campus in Gainesville, Florida, which was funded by Adcock and Goldstein. [36]

In August 2022, United Airlines paid Archer a $10 million deposit for 100 electric flying taxis. [37] On November 10, 2022, Archer and United Airlines announced plans for the first electric air taxi route in the US, with an initial route between Newark Liberty International Airport and the Downtown Manhattan Heliport. On November 17, 2022, Archer unveiled details of its production vehicle dubbed "Midnight". [38] The aircraft is a piloted, four-passenger air taxi the company said will enter flight testing by the second quarter of 2023 and service by 2025. It is designed to carry passengers on short trips of around 20 miles (32 km) between airports and downtown city centers. [39]

In November 2022, Archer unveiled its Midnight production aircraft, an electric vertical takeoff and landing (eVTOL) aircraft that can carry four passengers and a pilot. It is designed to be optimized for back-to-back 20-mile trips, with a payload of over 1,000 pounds. Midnight is the evolution of Archer's previous aircraft, Maker, and is expected to be certified by the FAA in late 2024. [40]

Archer announced its Maker prototype had achieved full transition from vertical to horizontal flight on November 29, 2022. This milestone was said to be an important validation step for the flight control systems and aircraft architecture that is also applicable to its Midnight production aircraft. [41]

In January 2023, Archer announced a partnership in which Stellantis, a multinational automobile manufacturer, would provide up to $150 million in equity capital to support Archer's growth and to collaborate on the development and production of Archer's eVTOL aircraft for urban air mobility. The purpose of the partnership solidifies Stellantis as Archer's exclusive contract manufacturer for mass production of its eVTOL aircraft. [42]

In March 2023, Archer and United Airlines announced plans for an electric air taxi route between O'Hare International Airport and Vertiport Chicago on the city's near west side. [43]

On June 5, 2024 Archer received its Part 135 Air Carrier and Operator Certificate from the Federal Aviation Administration (FAA). This certification marks a significant milestone as Archer Aviation moves towards commercializing its eVTOL aircraft for urban air mobility. [44]

Related Research Articles

<span class="mw-page-title-main">Air taxi</span> Small commercial aircraft which makes short flights on demand

An air taxi is a small commercial aircraft that makes short flights on demand.

<span class="mw-page-title-main">Personal air vehicle</span> Type of aircraft

A personal air vehicle (PAV) is a proposed class of passenger aircraft providing on-demand air transport.

Urban air mobility (UAM) is the use of small, highly automated aircraft to carry passengers or cargo at lower altitudes in urban and suburban areas which have been developed in response to traffic congestion. It usually refers to existing and emerging technologies such as traditional helicopters, vertical-takeoff-and-landing aircraft (VTOL), electrically propelled vertical-takeoff-and-landing aircraft (eVTOL), and unmanned aerial vehicles (UAVs). These aircraft are characterized by the use of multiple electric-powered rotors or fans for lift and propulsion, along with fly-by-wire systems to control them. Inventors have explored urban air mobility concepts since the early days of powered flight. However, advances in materials, computerized flight controls, batteries and electric motors improved innovation and designs beginning in the late 2010s. Most UAM proponents envision that the aircraft will be owned and operated by professional operators, as with taxis, rather than by private individuals.

Lilium N.V. is a German aerospace company which is the developer of the Lilium Jet, an electrically powered personal air vehicle capable of VTOL flight.

Kitty Hawk Corporation was an American aircraft manufacturer producing electric ultralight aircraft.

<span class="mw-page-title-main">Lilium Jet</span> Proposed personal air vehicle

The Lilium Jet is a prototype German electric vertical take-off and landing (eVTOL) electrically powered airplane designed by Lilium GmbH. A seven-seat production version is planned.

<span class="mw-page-title-main">Joby Aviation</span> American aviation company

Joby Aviation is a United States venture-backed aviation company, developing an electric vertical takeoff and landing (eVTOL) aircraft that it intends to operate as an air taxi service. Joby Aviation is headquartered in Santa Cruz, California, and has offices in San Carlos, California; Marina, California; and Munich, Germany.

Volocopter GmbH is a German aircraft manufacturer based in Bruchsal and founded by Alexander Zosel and Stephan Wolf. The company specializes in the design of electric multirotor helicopters in the form of personal air vehicles, designed for air taxi use. The CEO is Dirk Hoke and chairman Stefan Klocke.

<span class="mw-page-title-main">Transcend Air Vy 400</span> Type of aircraft

The Transcend Air Vy 400 is a tiltwing convertible aircraft developed by American startup Transcend Air.

<span class="mw-page-title-main">Vertical Aerospace</span> British aerospace manufacturer (e. 2016)

Vertical Aerospace Ltd. is an aerospace manufacturer based in Bristol, England. It designs and builds zero emission, electric vertical take-off and landing (eVTOL) electrically powered aircraft.

<span class="mw-page-title-main">Beta Technologies</span> Vermont electric aircraft manufacturer

Beta Technologies, is a South Burlington, Vermont-based aerospace manufacturer developing electric vertical take off and landing (eVTOL) and electric conventional take-off and landing (eCTOL) aircraft for the cargo, medical passenger, and military aviation industries. The company has also developed a network of chargers which can supply power to their aircraft and other electric vehicles. Training programs for future electric aircraft pilots and maintainers are also provided.

<span class="mw-page-title-main">Boeing Passenger Air Vehicle</span> Autonomous personal air vehicle prototype

The Boeing Passenger Air Vehicle (PAV) is an American electrical powered autonomous personal air vehicle prototype developed by the Boeing NeXt division of Boeing with the assistance of Aurora Flight Sciences.

eVTOL Type of aircraft

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. This technology came about owing to major advances in electric propulsion and the emerging need for new aerial vehicles for urban air mobility that can enable greener and quieter flights. Electric and hybrid propulsion systems (EHPS) have also the potential of lowering the operating costs of aircraft.

<span class="mw-page-title-main">Wisk Cora</span> Type of aircraft

The Wisk Cora, also known as Generation 4 and Generation 5, is an American autonomous personal air vehicle prototype previously developed by the Kitty Hawk Corporation, and subsequently by Wisk Aero.

Eve Air Mobility develops electric vertical take-off and landing (eVTOL) aircraft and urban air mobility infrastructure. EVE is a brand that was idealized by the innovation division of Embraer called EmbraerX.

Wisk Aero is an aerospace manufacturer based in Mountain View, California, United States. The company develops self-flying electric vertical take off and landing (eVTOL) aircraft designed to be operated as air taxis. The company was formed in 2019 as a partnership between Boeing and Google co-founder Larry Page's Kitty Hawk aircraft company.

<span class="mw-page-title-main">Advanced air mobility</span> Next generation aviation

Advanced air mobility (AAM) are systems that incorporate support for next-generation transport such as such as remotely piloted, autonomous, or vertical take-off and landing (VTOL) aircraft. This includes those powered by electric or hybrid-electric propulsion.

<span class="mw-page-title-main">Brett Adcock</span> American technology entrepreneur

Brett Adcock is an American technology entrepreneur and the founder and CEO of Figure AI, an AI startup working on a general-purpose humanoid robot. In 2018, Adcock founded Archer Aviation, five years after he started Vettery. In 2023, he established Cover. As of June 2024, Forbes estimates his net worth to be US$1.4 billion.

<span class="mw-page-title-main">Volocopter Volocity</span> Proposed personal air vehicle

The VoloCity is an electrically powered aircraft that can fly autonomously and take off and land vertically. It is produced by the German manufacturer Volocopter and is its first series model.

<span class="mw-page-title-main">TCab Tech</span>

TCab Technology Co., Ltd. is a company based in Shanghai, China that develops and manufactures electric vertical take-off and landing (eVTOL) aircraft. The name "TCab" stands for "time taxi." The company produces zero-emission eVTOL aircraft for public use in advanced air mobility (AAM) air ridesharing services.

References

  1. ↑ "Archer Aviation Form 8-K". U.S. Securities and Exchange Commission. June 15, 2022. p. 1.
  2. ↑ Avalos, George (January 25, 2022). "Archer Aviation strikes deal to move headquarters to San Jose". The Mercury News .
  3. ↑ "Electric Aircraft Startup Archer To Go Public; United Airlines Invests And Orders Electric Aircraft". Hospitality Ireland.
  4. ↑ Nichols, Greg (February 26, 2021). "Flying cars over Los Angeles by 2024". ZDNet .
  5. 1 2 Korosec, Kirsten (February 23, 2021). "Archer Aviation aims to launch network of urban air taxis in Los Angeles by 2024". TechCrunch .
  6. ↑ Alcock, Charles (February 10, 2021). "United Unveils Plans for eVTOL Aircraft Airport Shuttle Rides". Aviation International News .
  7. ↑ "Air-Taxi Startup Archer Secures United Airlines Order In Deal To Go Public". Aviation Week & Space Technology . February 10, 2021.
  8. ↑ Bartiromo, Michael (February 11, 2021). "United Airlines buying electric 'air taxis' to transport customers to airport". FOX Business .
  9. ↑ Rucinski, Tracy; Nishant, Niket (February 10, 2021). "Archer to go public, United Airlines invests and orders electric aircraft". Reuters .
  10. 1 2 Yao, Deborah. "Best Airline Stocks to Buy as the Industry Takes Off Again". Kiplinger . Retrieved June 6, 2021.
  11. ↑ Caswell, Mark (March 25, 2021). "Finnair signs Letter of Interest for 19-seater electric aircraft". Business Traveller. Retrieved June 6, 2021.
  12. ↑ Isola, Dario (July 19, 2022). "Archer Tech Talks, Propelling Maker". youtube .
  13. ↑ Chiland, Elijah (February 23, 2021). "Archer Aviation Plans Electric Air Taxis in LA by 2024". LA Business Journal .
  14. ↑ Brown, Eliot (March 15, 2021). "Electric-Vehicle Startups Promise Record-Setting Revenue Growth". Wall Street Journal .
  15. ↑ Griffith, Erin (March 19, 2021). "'The Market Seems Crazy': Start-Ups Wrestle With Flood of Offers". The New York Times .
  16. ↑ Szymkowski, Sean (February 25, 2021). "Archer eVTOL startup partners with LA to launch flying taxis in 3 years". CNET .
  17. 1 2 3 Pallini, Thomas (May 21, 2020). "A new urban air mobility startup has been operating in secret with aims to begin testing its own electric VTOL aircraft by 2021". Business Insider .
  18. ↑ "Ahead of First Hover Flight, Maker Aircraft Receives FAA COA and Relocates from Development Lab to Flight Test Facility". Yahoo.com . November 10, 2021.
  19. ↑ "Archer's Maker eVTOL receives special airworthiness certificate". evtol.com. December 5, 2021.
  20. ↑ Patterson, Thom (December 20, 2021). "Archer Aviation's Air Taxi Prototype Completes First Hover Test". Flying Magazine .
  21. ↑ Hirschberg, Mike (December 20, 2021). "Archer Hits Its Target". Vertical Flight Society .
  22. ↑ Garsten, Ed (December 20, 2021). "Archer Electric VTOL Air Taxi Demo Passes Major Test".
  23. 1 2 "Archer Names Miami As Launch Market For UAM Network". Aviation Week Network. March 10, 2021.
  24. ↑ "Archer's First UAM Network To Serve United Airlines Hub At LAX". Aviation Week & Space Technology . February 24, 2021.
  25. ↑ "Archer to launch flying taxi network in LA by 2024". Fox Business . March 2, 2021.
  26. ↑ Sedláček, Vojtěch (February 11, 2021). "Miliarda dolarů za 200 letounů budoucnosti. United Airlines nakoupí u Archer Aviation, který vstupuje na burzu". CzechCrunch.
  27. ↑ Shieber, Jonathan (February 12, 2021). "With a reported deal in the wings for Joby Aviation, electric aircraft soars to $10B business". TechCrunch .
  28. ↑ Bachmann, Daniel (February 25, 2021). "This New Zero-Emission Electric Air Taxi Will Be Flying Over LA in 3 Years". Robb Report .
  29. ↑ Bogaisky, Jeremy (February 10, 2021). "Archer To Go Public In Reverse Merger As United Airlines Places Order For Its Electric Air Taxis To Shuttle Passengers To Airport". Forbes .
  30. ↑ Huddleston Jr, Tom (March 7, 2021). "Joby Aviation is going public at a $6.6 billion valuation — take a look at its electric air taxi". CNBC .
  31. ↑ Korosec, Kirsten (February 10, 2021). "Archer lands $1B order from United Airlines and a SPAC deal". TechCrunch .
  32. ↑ Wolfsteller2022-05-09T18:43:00+01:00, Pilar. "Archer co-founder Adcock resigns from board weeks after leaving CEO post". Flight Global. Retrieved 2024-11-30.{{cite web}}: CS1 maint: numeric names: authors list (link)
  33. ↑ "Archer's Brett Adcock steps down as co-CEO". Vertical Mag. 2022-04-25. Retrieved 2024-11-30.
  34. ↑ Editor, Charles Alcock • Managing. "Archer Co-founder Brett Adcock Quits Co-CEO Role, Leaving Adam Goldstein at the Helm". Aviation International News. Retrieved 2024-11-30.{{cite web}}: |last= has generic name (help)
  35. ↑ "Archer Aviation Announces Leadership Transition; Appoints Adam Goldstein Sole CEO". sUAS News. 2022-04-19. Retrieved 2024-11-30.
  36. 1 2 Korosec, Kirsten (February 10, 2021). "Archer lands $1B order from United Airlines and a SPAC deal". University of Florida College of Engineering .
  37. ↑ Sider, Alison; Maidenberg, Micah (August 10, 2022). "United Airlines Puts Down Deposit on Flying Taxis" . The Wall Street Journal . Archived from the original on August 10, 2022.
  38. ↑ "Archer's flying taxi makes splashy debut in heated market". Reuters. 2021-06-11. Retrieved 2021-11-03.
  39. ↑ Archer unveils Midnight production vehicle Aviation Week
  40. ↑ "Archer Unveils its Production Aircraft, Midnight". November 17, 2022.
  41. ↑ Maker prototype completes first transition flight
  42. ↑ "Stellantis to Build Electric Aircraft with Archer and Provide Strategic Funding for Growth". January 4, 2023.
  43. ↑ Fitzpatrick, Alex (2023-03-23). "Air taxis are coming to Chicago". Axios. Retrieved 2023-03-30.
  44. ↑ "Archer earns Part 135 certification". Globalair.com. 2024-06-05. Retrieved 2024-06-12.

See also

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