Archer Aviation: A Leader in Electric Vertical Take-Off and Landing Aircraft

Company Overview

Archer Aviation Inc. (ACHR) is a leading developer of electric vertical take-off and landing (eVTOL) aircraft, a new technology that has the potential to revolutionize air travel. The company's eVTOL aircraft are designed to be safe, efficient, and affordable, making them an attractive option for a variety of applications, including air taxis, cargo delivery, and medical transport.

Archer Aviation was founded in 2018 by Brett Adcock and Mark McKinney, two former Uber executives. The company has since raised over $1 billion in funding from a variety of investors, including United Airlines and Stellantis. Archer Aviation is headquartered in Palo Alto, California, and has manufacturing facilities in Austin, Texas, and Everett, Washington.

Recent Developments

In November 2022, Archer Aviation unveiled its Midnight production aircraft, an eVTOL with a range of up to 100 miles and a top speed of 150 mph. The Midnight is scheduled to enter production in 2025.

In addition to its Midnight aircraft, Archer Aviation is also developing a larger eVTOL called the Maker. The Maker is designed to carry up to 12 passengers and has a range of up to 200 miles. The Maker is scheduled to enter production in 2026.

Financial Performance

Archer Aviation is not yet profitable, but it has a strong financial position with over $1 billion in cash and equivalents. The company's revenue in 2022 was $11.5 million, and it expects to generate revenue of between $25 million and $35 million in 2023.

Archer Aviation is a high-growth company with a strong financial position. The company's eVTOL aircraft have the potential to revolutionize air travel, and Archer Aviation is well-positioned to capitalize on this opportunity.