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Archer Aviation
Archer Aviation, led by Adam Goldstein, received FAA Part 135 certification in June 2024 for its United Airlines-backed eVTOL air-taxi network.
Archer Aviation
Adam Goldstein and Brett Adcock launched Archer in 2018 to commercialize eVTOL aircraft for short-distance urban trips. The company targets a 2025 entry into service after securing a key airworthiness certificate from the FAA for its Midnight aircraft in mid-2024. Archer's public listing via a SPAC merger with Atlas Crest Investment Corp in September 2021 provided the balance sheet to fund an asset-heavy path through certification, a route few eVTOL peers could follow without dilution. Archer's deployment centers on direct aircraft manufacturing and planned air-taxi operations, starting in New York, Los Angeles, San Francisco and Miami. The firm's marquee order is a $1 billion conditional purchase agreement with United Airlines for up to 200 Midnight aircraft (per United Airlines disclosure, 2021), with a $10 million pre-delivery payment. Stellantis deepened its tie in 2023 by providing advanced manufacturing capability and up to $150 million in equity to help Archer scale its Georgia high-volume factory, which targets 650 aircraft annually. A $142 million contract with the U.S. Air Force under the Agility Prime program adds a defense angle, offsetting commercial certification risk. As of mid-2024, Archer employs roughly 700 people (per the firm, 2024) and maintains a manufacturing facility in Covington, Georgia alongside its San Jose headquarters. The company restructured its board in 2023, bringing on former FAA acting administrator Billy Nolen as Chief Regulatory Affairs Officer — a signal of certification urgency. Adjacent operational partnerships include a planned launch with Signature Aviation for electrified terminals in major U.S. metro areas, and a joint eVTOL ecosystem plan in the UAE with the Abu Dhabi Investment Office. The firm remains pre-revenue, with R&D spend of $90.6 million in Q1 2024 alone. Archer's structural differentiator is a manufacturer-cum-operator model that keeps the full margin stack — aircraft, digital booking, charging infrastructure, and route operations — rather than supplying airframes to third-party operators. This vertically integrated posture mirrors what Joby Aviation is building but with heavier OEM backing from legacy carmakers, who view Archer as an end-market for their manufacturing and electrification capabilities.
General information
Firm type
Asset Manager
Year founded
2018
AUM
Undisclosed
Location
Region
North America
Country
United States
City
San Jose
Corporate office
San Jose, CA, United States
Principals
Adam Goldstein
CEO & Founder
Sector focus
Frequently asked questions
Is Archer a manufacturer, an operator, or both?
Archer is both. It designs and builds the Midnight eVTOL aircraft and intends to operate its own air-taxi routes in launch cities. This vertical integration captures value from manufacturing, digital booking, charging infrastructure, and flight operations. The model differs from firms that plan to sell aircraft to third-party operators.
Who are Archer's critical commercial partners?
United Airlines is Archer's anchor airline partner, placing a conditional $1 billion order for up to 200 Midnight aircraft with a $10 million pre-delivery payment. Stellantis serves as the primary manufacturing partner and has committed to providing up to $150 million in equity capital. Signature Aviation signed on to electrify a network of private terminals for eVTOL charging.
What does the FAA certification path look like for Archer?
Archer received a Part 135 air carrier certificate from the FAA in June 2024, allowing it to legally conduct on-demand commercial air operations. The Midnight aircraft itself requires a separate Part 21 type certificate, which Archer targets in 2025. A previously secured Special Airworthiness Certificate permits limited flight testing and government demonstration flights under the Agility Prime program.
How does Archer's capital structure work post-SPAC?
Archer went public in September 2021 through a merger with Atlas Crest Investment Corp, raising over $850 million in gross proceeds. As of Q1 2024, the firm held approximately $408 million in cash and equivalents. It remains pre-revenue and relies on periodic equity raises, including a Stellantis facility and potential government contracts, to fund R&D and factory construction.
Where does Archer plan to launch commercial flights?
Archer plans its initial U.S. air-taxi network in New York, Los Angeles, San Francisco and Miami, using a hub-to-vertiport model designed for 20-to-50-mile trips. Internationally, the firm has a partnership with the Abu Dhabi Investment Office to establish an eVTOL ecosystem in the UAE, with the aim of commencing flights as early as 2025.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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