With companies racing to get flying cars off the ground, now is the time to buy some of the leading flying car stocks.

For one, according to JPMorgan (NYSE:JPM), the market could be worth about $1 trillion by 2040. Two, according to McKinsey, “People are ready for flying taxis. Across geographies, more than 15 to 20 percent of survey respondents say they can definitely imagine switching from their current mode of mobility to a flying-taxi service in the future.”

Three, companies are already nearing the launch of flying cars. XPeng (NYSE:XPEV) for example, wants to make them available for pre-order this year, with deliveries by 2026. In addition, major auto companies are investing heavily in flying car companies. Stellantis (NYSE:STLA), for example, just invested another $55 million in Archer Aviation (NYSE:ACHR). Toyota (NYSE:TM) even invested $400 million in Joby Aviation (NYSE:JOBY).

Helping, not only are governments all over the world supportive of flying cars, but so are a growing number of consumers. In fact, according to Research and Markets. consumers want faster, more efficient travel options that can bypass high-traffic roads.

Again, with companies racing to get flying cars off the ground, now is the time to buy some of the leading flying car stocks.

Archer Aviation (ACHR)

Over the last few weeks, Archer Aviation exploded from about $3 to a high of $5.40.

As noted above, part of the reason for that was the $55 million investment from Stellantis. That followed Stellantis’ purchase of 8.3 million ACHR shares in March, which followed its $110 million investment in ACHR throughout 2023.

Archer is also pushing higher on news it and Southwest Airlines (NYSE:LUV) signed a memorandum of understanding to develop electric air taxi networks. Archer also signed an MoU with Signature Aviation to electrify its network of private aviation terminals. It would also give Archer access to takeoff and landing sites in major metro areas of the U.S.

Even better, Archer recently opened its battery pack manufacturing site earlier this year, where it will produce as many as 15,000 packs per year. It’s set to also open its aircraft factory in Georgia later this year, where it expects to produce 650 flying cars a year.

Joby Aviation (JOBY)

Over the last few weeks, Joby Aviation jumped from about $5 to $7.50.

All thanks to its landmark, 523-mile hydrogen-electric flight, which produced nothing more than water as its byproduct. Also, while I do like the stock for the long and short term, I’d wait for the stock to bottom out. At the moment, it’s technically overbought on RSI, MACD and Williams’ %R and could potentially refill its bullish gap at around $5.50.

Longer-term, there’s a lot to like about JOBY. Toyota invested $400 million in the company, as noted earlier. Delta Air Lines (NYSE:DAL) invested $60 million. JOBY will also deliver aircraft to the MacDill Air Force Base in 2025, as part of a $131 million contract with the U.S. Air Force. It also has an agreement with the government of Dubai, which gives it exclusive rights to operate air taxis.

In addition, JOBY is also working with Toyota subsidiary Aero Asahi on an air taxi shuttle service for Toyota passengers in Japan.

Again, there’s a lot to like about JOBY over the long term. Short-term, I’d wait for JOBY to pull back from overbought conditions before buying.

Blade Air Mobility (BLDE)

Another one of the top flying car stocks to buy is Blade Air Mobility (NASDAQ:BLDE), an urban air mobility company. Not only does the company provide air transportation and logistics for hospitals across the U.S., but it also provides helicopter flights between the airport and Manhattan, as well as electric vertical take-offs.

Plus, earnings haven’t been too shabby. In its first quarter, its earnings per share loss of 10 cents beat by a penny. Revenue of $51.51 million, up 13.8% year-over-year (YOY), beat by $2.43 million. It also saw medical revenue of $36 million, a 34.6% jump YOY. Its medical segment adjusted EBITDA of $4.4 million was up 134.5% YOY.

For the full year 2024, BLDE expects to see positive adjusted EBITDA, with revenue of $240 million to $250 million. For 2025, BLDE expects to see double-digit YOY revenue growth and double-digit adjusted EBITDA.

Much like JOBY, I like BLDE for the long haul. Near-term, I’d wait for it to pull back before buying. At the moment, it’s technically stretched at double-top resistance, with over-extensions on RSI, MACD and Williams’ %R.

On the date of publication, Ian Cooper did not have (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.