Archer Aviation
Overview
Archer Aviation is a prominent player in the electric vertical takeoff and landing (eVTOL) aircraft industry, based in Santa Clara, California. Founded by Adam Goldstein and Brett Adcock in 2018, the company is dedicated to revolutionizing urban transportation by developing flying taxis designed to alleviate congestion in metropolitan areas. Archer has successfully raised close to $2 billion in capital, with strategic investments from companies like Stellantis and United Airlines.
Recent Developments
- December 2024: Archer Aviation announced raising $430 million to further its Defense division. The funds will support the development of new military eVTOL aircraft in collaboration with Anduril Industries, focusing on defense applications for the U.S. Department of Defense.
- November 2024: Archer revealed promising third-quarter financials, highlighting the nearing completion of their manufacturing facility in Georgia. The facility aims to commence production in early 2025, with a target to manufacture two aircraft per month by year-end.
- October 2024: Archer applauded the FAA's new rules for eVTOL aircraft, which solidified regulatory pathways crucial for Archer's commercialization plans in the U.S.
- September 2024: Archer surpassed 400 test flights of its Midnight model, a significant milestone demonstrating the aircraft's reliability and operational readiness.
- August 2024: Archer delivered its first Midnight aircraft to the U.S. Air Force, marking a milestone in its defense contracts.
- July 2024: Archer announced plans for an air taxi network in Los Angeles, ahead of major world events like the 2026 World Cup and 2028 Summer Olympics.
- June 2024: Archer received FAA certification to begin operating its commercial airline division, a pivotal step towards official operations.
- May 2024: Archer established a consortium with Abu Dhabi's aviation stakeholders to launch commercial air taxi services by 2025, reflecting its international ambitions.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2018 |
| Headquarters | Santa Clara, California, USA |
| Founders | Adam Goldstein, Brett Adcock |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Stellantis, United Airlines, Wellington Management, 2PointZero |
| Industry | Aerospace, eVTOL |
| Number of Employees | Approximately 500 (as of 2024) |
Early History
Archer Aviation was founded in 2018 by Adam Goldstein and Brett Adcock with the vision of transforming urban transportation through innovative eVTOL aircraft. The company quickly gained traction by attracting strategic investments and forming key partnerships. Early successes included the development of their flagship aircraft 'Midnight' and forming a partnership with United Airlines, which positioned Archer as a leader in the burgeoning urban air mobility sector.
Company Profile and Achievements
Archer's business model focuses on the development, certification, and commercialization of eVTOL aircraft. The company's flagship aircraft, Midnight, is designed for urban air mobility, featuring a piloted four-passenger capacity. Archer's major achievements include:
- Securing strategic partnerships with automotive giant Stellantis and airline leader United Airlines, boosting its operational and financial capabilities.
- Completing over 400 test flights, underscoring the reliability and safety of its aircraft.
- Launching a successful IPO, which significantly enhanced its capital base.
- Establishing the first air taxi network plans in Los Angeles, targeting operations to coincide with major global sporting events.
Current Operations and Market Position
Archer is currently focused on scaling its manufacturing capabilities with a new facility in Georgia, set to begin operations in 2025. The company holds a strong position in the eVTOL market, with a robust pipeline of orders valued at over $6 billion. Its strategic initiatives target both commercial and military sectors, positioning Archer as a versatile player in the eVTOL landscape. Recent capital investments have provided financial stability, allowing Archer to focus on advancing its aircraft development and meeting certification milestones.
Conclusion
Archer Aviation stands at the forefront of the eVTOL industry, backed by substantial financial investments and strategic partnerships. Its commitment to innovation in urban transportation is evidenced by its robust product pipeline and ambitious international expansion plans. With successful completion of critical FAA certifications and strategic collaborations, Archer is well-positioned to make significant impacts in urban air mobility, setting the stage for potential aerial urban transit networks globally.