Joby Aviation (NYSE:JOBY) stock could be a good bet here. The company aims to revolutionize urban air mobility worldwide. The company is working on deploying air taxis soon. Joby’s partnerships suggest a bright future in the emerging market.
Here are a few factors investors considering the eVTOL space may want to consider when it comes to Joby Aviation right now.
JOBY Chooses IFS Cloud for Aviation Maintenance
On April 1, IFS revealed that Joby Aviation has opted for IFS Cloud for Aviation Maintenance. This move, according to the company’s management team, should spearhead several eVTOL aircraft advancements.
The company began production in June 2023 and conducting successful piloted test flights, including one in New York City. With a range of 100 miles and capacity for a pilot and four passengers, Joby’s all-electric aircraft aims to serve communities globally, with commercial operations set to begin in 2025.
Scott Helmer, IFS Aerospace and Defense President expressed excitement about partnering with Joby for aircraft maintenance. IFS Cloud’s industry-specific adaptability makes it perfect for flight innovators. Joby joins IFS’s esteemed clients, including Southwest Airlines and Air France-KLM Group.
Ohio Will Shelter Joby
As part of the company’s ambitious strategy for growth, Joby has unveiled plans for their Dayton, Ohio manufacturing plant, which they label the birthplace of aviation.
The state-of-the-art facility can produce 500 eVTOL aircrafts every year and has been a remarkable milestone in the history of air mobility. Moreover, the Ohio facility is also expected to provide 2,000 manufacturing jobs.
Opting for Dayton over its California headquarters, Joby plans to construct a $500 million facility. The company highlighted Dayton’s rich aviation history and access to a skilled workforce as key factors in their decision.
Joby will also enhance its Marina, California, facility, where aircraft production begun last year.
Implementing IFS Cloud for Aviation Maintenance, Joby aims to optimize maintenance processes for its eVTOL fleet, ensuring safety and efficiency amid global expansion initiatives.
Scheduled to debut at the Paris Olympics, these aircraft are poised to revolutionize air travel and broader mobility. With a projected $1 trillion value by 2040, the global eVTOL market has attracted numerous startups and established players.
Joby likened the company to the “Uber of the skies,” offering an aircraft with pilot and passenger capacities, reaching speeds up to 200mph. Test flights in Manhattan showcased the potential for rapid transit, with hopes to launch commercial services in major cities by 2025.
JOBY Stock and the U.S. Air Force
In 2025, Joby Aviation announced plans to supply two advanced electric aircraft to MacDill Air Force Base, Florida, a step toward commercializing electric air taxis.
This move symbolizes the shift from military to civilian air taxi services. The partnership highlights the DoD’s role in fostering innovation and connecting companies to the commercial market through programs like AFWERX Agility Prime.
Joby delivered nine eVTOLs to the Air Force under a $131 million contract, with the latest batch destined for MacDill AFB.
This marks Joby’s direct partnership with military units, showcasing the versatility of eVTOLs in various logistical and operational missions. The low maintenance costs and quiet operation of eVTOLs offer significant advantages in military applications.
Buy JOBY Stock Now
Joby Aviation will move from a pre-revenue player to one with meaningful fundamentals. And with a solid balance sheet, there’s a lot to like about its prospects within the flying car stocks space.
Yes, competition will continue to heat up in this sector. However, Joby stock stands out as a top contender for substantial returns. This is a top speculative pick on my radar right now, and I think investors need to take a good look at this company.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
