Advanced Air Mobility

Joby Aviation successfully completed the first test flight of its hybrid-electric defense aircraft, developed in collaboration with L3Harris. This milestone, achieved rapidly after the partnership announcement, highlights Joby’s agility in addressing evolving military needs amid shifting geopolitical priorities. While primarily focused on commercial eVTOLs, this venture showcases the versatility of Joby’s technology. The company is also pursuing FAA certification for commercial operations and expanding internationally, reflecting significant momentum in the broader advanced air mobility sector. Joby envisions future commercial applications for its hybrid technology.

Beta Technologies, an electric aerospace company, debuted strongly on the NYSE, closing nearly 6% higher at $36 per share after pricing its IPO at $34. The IPO raised over $1 billion, valuing Beta at $7.4 billion. While Beta faces challenges like a $183.2 million net loss in the first half of the year, it anticipates FAA certification within 30 months. Major investors include Amazon and GE. Competitors Joby Aviation and Archer Aviation saw declines following Beta’s IPO, highlighting the eVTOL market’s volatility. Beta’s success is viewed as a bellwether for the eVTOL industry.

Eve Air Mobility and Bahrain’s Ministry of Transportation have signed a Framework Agreement to advance air mobility in the Middle East. This partnership aims to integrate eVTOL aircraft into Bahrain’s infrastructure, focusing on regulatory testing, vertiport development, and workforce training. Commercial operations are projected to begin in 2028, with international routes planned for 2029. Eve is also evaluating potential routes in regional hubs and designing eVTOLs tailored for the Middle East’s climate.

BETA Technologies filed for an IPO, aiming for a $7.2 billion valuation and seeking to raise up to $825 million. The electric aircraft manufacturer’s move comes amid growing investor interest in the eVTOL sector, fueled by government initiatives and partnerships. While BETA’s revenue doubled in the first half of 2025, net losses also widened. A $300 million investment from GE Aerospace signals confidence. BETA differentiates itself with cargo applications. The IPO’s success hinges on navigating regulations, scaling production, and achieving profitability.