2 eVTOL Stocks to Buy Now

The advanced air mobility (AAM) sector, projected to reach $1 trillion by 2040, is gaining momentum as the FAA and White House launch 2025 pilot programs to accelerate eVTOL certification and allow limited pre-certification operations. Front-runners Archer Aviation and Joby Aviation are making significant strides despite high cash burn; Archer holds $1.7 billion in cash, has secured key FAA certifications, and is partnered with United and Stellantis, while Joby, with $991 million in cash, is leveraging its Uber integration for a commercial pathway by 2026 and is 70% complete with a critical certification stage. This early-stage market presents substantial opportunity, underpinned by aligning regulatory support, strategic capital, and commercial partnerships, though certification risks and high burn rates persist.

Analysis

The advanced air mobility (AAM) sector is approaching a critical inflection point, supported by significant regulatory tailwinds from the FAA and White House's 2025 pilot programs aimed at accelerating eVTOL certification. This governmental de-risking underpins analyst projections of a $1 trillion market by 2040. Two clear front-runners, Archer Aviation (ACHR) and Joby Aviation (JOBY), are leveraging distinct strategies to capture this opportunity. Archer boasts a superior liquidity position with $1.7 billion in cash as of Q2 2025 and has established key operational infrastructure, including FAA Part 135/145 certificates and a completed manufacturing plant. Its partnerships with United Airlines and Stellantis, alongside its role in the 2028 LA Olympics, provide a structured path to scaling. Conversely, Joby is focused on an accelerated go-to-market strategy through its Uber integration, promising a commercial pathway by 2026. Joby's certification is also advancing, with the company reporting it is approximately 70% complete with a key stage 4 element, supported by a $991 million cash position. Despite these positive developments, both companies remain pre-revenue and face substantial execution risks, including high cash burn (Archer's negative $118.7M Q2 adjusted EBITDA; Joby's guided $500M+ annual use) and the potential for certification delays.

Key Decisions for Investors

• Investors with a high-risk tolerance could consider building positions in Archer and Joby to gain exposure to the nascent AAM sector, but should size allocations appropriately given the pre-revenue status and inherent volatility.
• Closely monitor FAA certification milestones for both companies, as progress or delays in achieving Type Certification will be the primary driver of valuation and the key catalyst for initiating commercial operations.
• Evaluate the distinct strategic advantages of the two leaders, weighing Archer's superior cash position ($1.7B) and manufacturing readiness against Joby's near-term commercial pathway through its Uber integration.
• Track quarterly cash burn rates against existing liquidity, as any acceleration in spending or unexpected certification delays could necessitate further capital raises and potential dilution for existing shareholders.