The flying car industry is evolving at a rapid rate due to the integration of various technologies and funding by corporations. By 2025, the sector is expected to grow tremendously with electric vertical take-off and landing (eVTOL) vehicles as the new generation of transport. These innovations aim to change the way people move around in cities, how disasters are managed, and even how healthcare is delivered to people in remote regions of the globe. As a result of some fears and anxieties in the market, there are some flying car stocks to buy on the dip. Now could be a great time to consider these options.

These flying car stocks could be the hottest investments available as the industry is expanding rapidly. Notably, some estimates put the annual growth rate of the industry at a strong 34% through 2035. I personally believe then that now could be a great time for investors to consider these three flying car stocks to buy on the dip as they won’t stay cheap for much longer.

Joby Aviation (JOBY) 

Joby Aviation (NYSE:JOBY) is one of those flying car stocks to buy on the dip as the company’s stock price has cratered 24.05% over the past month.

I think that JOBY is a stronger buy now more than ever before. First off, Joby’s production ramp-up is nothing short of stellar. They’re on track to have four production prototype aircraft in flight testing by Q3 2024, as announced recently. As they say, “iron sharpens iron,” and having multiple prototypes in the air will be a litmus test of each’s capabilities and which can drive the most sales and earnings.

I think that JOBY could start providing strong returns to shareholders soon. They’ve already completed over a third of Stage 4 testing and analysis, with management expecting “progress to accelerate in the remainder of 2024.” This then I think makes JOBY a buy, as the market could react strongly to this news throughout the week.

Lilium (LILM) 

Lilium (NASDAQ:LILM) is one of my favorite flying car stocks for investors to buy. The company’s stock price has tanked substantially, losing 32.89% of its value over the past year. But let’s dissect the bull case: Lilium secured a transformative agreement with Saudia Group for up to 100 of its VTOL jets. With deliveries penciled in for 2026, I think that LILM could be on track to deliver profits for shareholders faster than many realize.

Another  particularly intriguing facet of Lilium’s strategy is the development of its aftermarket service business, POWER-ON. This is Projected to generate $5 billion in recurring revenue by 2035. Given these accretive factors, I believe that LILM stock deserves to trade at a higher valuation than it does now, and its market cap of $469 million still provides plenty of upside for it to grow into a potential multibagger in the future.

Blade Air Mobility (BLDE)

Blade Air Mobility (NASDAQ:BLDE) is positioned uniquely as part of this list of flying car stocks to buy on the dip. It achieved its first Q2 with positive Adjusted EBITDA as a public company, showing a $5.4 million improvement year-over-year to reach $1 million.

What makes the firm unique is that its vehicles have a rising potential for use in organ transportation. Transporting organs quickly is vital for maintaining patient health. The Medical segment saw the highest quarterly Medical revenue since inception at $38.3 million, a 6.4% sequential increase from Q1 2024.

BLDE might be the dark horse in the race for flying car stocks as it has experienced the largest decline in its stock price at 69.13% over the past five years. However, from here things look it they are steadily improving, thus making it one of those companies investors should keep their eyes on.

On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed 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.