Archer Aviation Inc., a designer and manufacturer of AirT axis or electric vertical takeoff and landing vehicles (e-VTOL) has recently acquired a $142 million contract with the US Air Force. This new deal signifies that archer aviation is being taken more seriously at least by the military, but that the US Air Force itself is looking to experiment with greener technology that provides greater efficiencies and quieter helicopters. The deal comes as Archer Aviation strives to continue its growth and development given its declining stock price since its IPO, and possibly help them to gain additional revenue necessary to drive itself within the private sector.
It would be understandable to wonder whether this is a new trend for the US military, and that other companies such as Joby Aviation, also designing and developing e-VTOLs Tjan yocould be getting involved with the military in the future. What this will mean for the private sector development is yet to be deciphered. If history is any guide, we could use the fact that Boeing made bombers before it started making commercial airliners. Its years of experience making bombers for the military was a contributing factor to its success in the commercial airliner market.
In this week’s On Aviation™ Digest, we share some articles on what’s been happening with the new deal with Archer Aviation and the US Air Force, giving the reader some updates on this specific deal and with Archer Aviation in general.
Archer Aviation Secures New Defense Contracts To Help Develop Helicopter Replacement
Archer Aviation Inc. said Monday it had extended its relationship with the U.S. Department of Defense by signing new contracts with the Air Force with a total value of up to $142 million.
The San Jose-based electric vertical take-off and landing (eVTOL) company has been working with the Air Force’s AFWERX program since 2021. The new contracts look to help the DoD replace helicopters with a safer, quieter aircraft.
The news gave Archer a boost on Wall Street, driving the company’s stock (NYSE: ACHR) up more than 16% in early trading Monday.
In May, Archer completed the assembly of its first Midnight air taxi, an eVTOL aircraft that can carry a pilot and four passengers. Quieter and less expensive than a helicopter, the Midnight is expected to have a total range of 100 miles with zero emissions. It has been designed for 20-minute trips with a 10-minute charging stop in between.
By Anthony Duignan-Cabrera | Business Journal
USAF Invests $142m In Archer Evtol Aircraft
Archer Aviation’s partnership with the United States Air Force (USAF) has taken a significant step forward as the two parties announce an investment worth $142 million.
Archer, a company developing electric vertical takeoff and landing (eVTOL) aircraft, and the USAF have been working together since 2021 on a series of projects. However, the new deal represents a deep strengthening of their ties.
As part of the $142 million investment, the USAF will purchase up to six Archer’s Midnight aircraft.
The agreement also includes the sharing of additional flight test data and certification related test reports, pilot training, and the development of maintenance and repair operations.
“The new contracts signal the US military’s recognition of the transformative potential Archer’s innovative eVTOL aircraft brings to our country’s Armed Forces,” Archer said in a statement on July 31, 2023. “As a result of these contracts, Archer will create and provide innovative capabilities that will strengthen the national defense of the United States of America.”
Archer has been working with the USAF on helping the AFWERX Agility Prime program assess the transformational potential of eVTOL technologies on the vertical flight market and applications for the Department of Defense.
By Ian Molyneaux | AeroTime
Archer Shares Jump On Air Taxi Deal With Us Air Force
July 31 (Reuters) – Archer Aviation (ACHR.N) shares jumped as much as 33% on Monday after the air taxi maker entered into a deal to provide up to six of its “Midnight” aircraft to the U.S. Air Force.
The deal, worth up to $142 million, includes delivery of vertical takeoff and landing (eVTOL) aircraft, pilot training, development of maintenance and repair operations, and share data such as additional flight test and certification-related test reports.
The California-based company in May completed the final assembly of its first “Midnight” (eVTOL) aircraft. It can carry four passengers and a pilot and has a range of up to 100 miles (160.9 km).
Last month, Joby Aviation (JOBY.N), which also has a deal with the U.S. Air Force, said it would deliver the first two electric aircraft in March 2024 to the Edwards Air Force Base after completing their initial testing.
By Reuters
Archer Aviation Bags US Air Force Contracts Worth $142M
Archer Aviation Inc (NYSE:ACHR) has expanded its partnership with the Department of Defense (DoD) with new contracts from the U.S. Air Force with a total value of up to $142 million.
Archer specializes in electric vertical takeoff and landing (eVTOL) aircraft.
The contract includes the delivery of up to six of Archer’s Midnight aircraft to the Air Force along with sharing of additional flight test data and certification related test reports.
It also includes pilot training, and the development of maintenance and repair operations.
eVOTL aircraft holds the promise of enhancing rapid response, agility, and operational effectiveness across a wide range of mission profiles.
By Benzinga| Market Insider
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