The realm of electric vertical take-off and landing (eVTOL) aircraft promises to revolutionize urban transportation. Two prominent companies, Archer Aviation and Joby Aviation, are leading the charge in developing these groundbreaking aerial vehicles. While both share a common vision of urban air mobility, a deep dive into their data and approaches reveals fundamental differences that could determine who lands first in the market and achieves commercial success. Recent data indicates impressive stock gains for both companies over the past year, with Archer soaring by approximately 175.53% and Joby by 72.02%, underscoring growing market interest in this innovative and exciting sector.

Background and Economic Context: Tomorrow’s Skies Are Here Today

The eVTOL market is defined by the development of electric aircraft capable of vertical take-off and landing, similar to helicopters, but with a significantly lower ecological footprint and reduced noise. These vehicles are primarily designed for use within crowded cities and metropolitan areas, offering a potential solution to traffic congestion and ground transportation issues. Archer Aviation Inc., founded in 2018 by Brett Adcock and Adam Goldstein, focuses on developing such aircraft with a vision to create an urban air transportation network. Joby Aviation Inc., founded earlier in 2009 by JoeBen Bevirt, boasts greater seniority in the field and is also working to develop a commercial electric vertical passenger aircraft. Both companies represent part of a broader trend of aviation innovation, supported by increasing investments and the growing need for efficient and sustainable transportation solutions.

Current Performance and Numerical Data: Reality Versus Vision

A comparative analysis of market data as of June 24, 2025, shows that Archer Aviation is trading at $10.28 per share, with a market capitalization of approximately $6.50 billion. In contrast, Joby Aviation is trading at $8.79 per share, with a slightly higher market capitalization of about $6.89 billion. It is important to note that both companies are still in early stages of development and are not generating significant revenue, as reflected in their negative Earnings Per Share (EPS) figures: Archer at -$1.24 and Joby at -$0.83. The number of employees indicates the scope of activity and investment in development: Joby has approximately 2.03K employees, compared to about 1.15K employees at Archer. These figures suggest that Joby, with more experience and a larger workforce, may have a certain lead in terms of development scope and technological readiness, despite a very similar market capitalization.

Comparison and Benchmark: Advantages and Challenges

Comparing the stock performance over the past year presents an interesting picture: Archer’s stock recorded a particularly impressive increase of 175.53%, while Joby’s stock rose by 72.02%. This data may reflect greater investor optimism towards Archer’s progress and potential, possibly due to strategic partnerships or development milestones that garnered attention. However, it is crucial to remember that both companies are still in very early operational stages. The fact that both exhibit negative EPS and neither pays dividends indicates that they are in a phase of heavy investment in research, development, and obtaining regulatory approvals. The increase in stock prices, especially given the lack of revenue, primarily reflects market confidence in the future potential of the technology and the expected demand for these services.

Macro and Geopolitical Influences: Tailwinds and Regulation

Progress in the eVTOL sector is directly influenced by macroeconomic and geopolitical trends. Growing environmental awareness and the need to reduce carbon emissions provide significant tailwinds for these companies, as their aircraft are electrically powered. Government policies and regulatory frameworks, particularly from civil aviation authorities such as the FAA in the United States, are critical factors in determining the pace of progress. The licensing and certification process for innovative aircraft is complex and lengthy, and any delays can dramatically impact company timelines and expenditures. Furthermore, global energy prices and developments in supply chains also affect development and production costs. These companies, developing cutting-edge technology, also depend on venture capital investments and government support to accelerate development.

Future Outlook and Forecasts: Who Will Fly Higher?

The eVTOL aircraft market is expected to grow significantly in the coming decades, with many analysts predicting market values reaching tens or even hundreds of billions of dollars. Both Archer and Joby present aggressive plans for market entry, including collaborations with airlines and leasing companies. Joby, with its greater seniority and larger workforce, may benefit from a certain advantage in accumulated knowledge and development processes. In contrast, Archer has demonstrated an impressive ability to raise capital and forge strategic partnerships that have propelled its stock upwards. The future success of both depends on obtaining regulatory approvals in a timely manner, the ability to achieve mass production at a competitive price, and creating a sustainable business model for air taxi services or aircraft sales. The market will continue to monitor operational milestones, such as successful test flights and progress towards serial production.

Conclusion: The Sky Race is at Its Peak

Both Archer Aviation and Joby Aviation stand at the forefront of the next aviation revolution, offering promising solutions to urban transportation challenges. While Joby benefits from greater experience and seniority, Archer demonstrates impressive progress and growing investor confidence. Both are in a critical stage of development and investment, with success largely dependent on their ability to navigate complex regulatory processes and transform their vision into economic reality. The market potential is immense, but the path to its realization is fraught with challenges. For investors, the decision between the two companies will involve evaluating the specific risks and opportunities of each, considering the pace of technological advancement, strategic partnerships, and regulatory support they receive.