Three Flying Taxi Stocks Positioned for Growth in the eVTOL Era

The commercial aviation taxi market is rapidly transitioning from concept to reality, with multiple companies racing to establish themselves in what could become a multi-trillion-dollar industry. As regulatory approvals accelerate and strategic partnerships solidify, several flying taxi stock candidates are gaining momentum in the emerging urban air mobility sector. Here are three companies worth monitoring as the electric vertical takeoff and landing (eVTOL) space evolves.

Joby Aviation — Leading the Air Taxi Race with Strategic Backing

Joby Aviation (NYSE: JOBY) has positioned itself as a frontrunner despite recent stock volatility. The company is advancing rapidly through regulatory milestones that matter most for commercialization. According to Joby, air taxi services could launch within the near term as the company progresses through FAA certification stages.

The backing from Toyota and Delta Air Lines demonstrates institutional confidence in Joby’s technology. Toyota’s $400 million investment and Delta’s $60 million commitment underscore the commitment from major players who understand aviation logistics. Additionally, Joby secured a $131 million contract to deliver aircraft to MacDill Air Force Base, providing both revenue visibility and military-grade validation of its systems.

The company has already completed Stage 3 of its FAA certification process and is now conducting critical “for-credit” flight testing. A definitive agreement with Dubai giving Joby exclusive operating rights for six years in that market signals real commercial traction. From a financial standpoint, Joby maintained $1 billion in cash and short-term investments at year-end 2023, providing runway for development. Recent quarterly results also showed improved metrics, with earnings and revenue both beating analyst expectations.

Archer Aviation — Scaling eVTOL Production with Stellantis Partnership

Archer Aviation (NYSE: ACHR) is tackling the commercialization challenge from a different angle—through strategic automotive partnerships. The company is targeting electric air taxi trials in India for 2025, preparing the ground for commercial operations by 2026. This geographic diversification demonstrates both confidence in regulatory pathways abroad and a pragmatic approach to market entry.

The pivotal development is Archer’s partnership with Stellantis, a global automotive heavyweight. Stellantis increased its stake by $15.6 million and committed to “absorb the vast majority of the capital expenditures and working capital requirements to manufacture our aircraft at scale.” This arrangement addresses the primary bottleneck for eVTOL companies—affordable production scaling. Archer CEO Adam Goldstein emphasized that few flying taxi companies have secured similar relationships with major automakers, giving Archer significant advantages in managing cash flow during growth phases.

The company is also progressing toward FAA Type Certification. Archer has begun construction of its Midnight aircraft specifically for “for-credit” flight testing with the FAA, with Type Certification targeted for 2025. Expected commercial service launches in New York City demonstrate confidence in near-term regulatory outcomes and real market demand for air taxi services.

Lilium — Building the Infrastructure for European Air Mobility

Lilium (NASDAQ: LILM) has taken a partnership-focused approach to developing its flying taxi business. Trading at significantly lower stock prices compared to competitors, Lilium recently signed a memorandum of understanding with Lufthansa Group to explore eVTOL aircraft operations across Europe. This partnership connects Lilium’s technology with one of the world’s most established aviation operators.

Lilium also partnered with Atlantic Aviation to develop the infrastructure for regional air mobility services in the United States. These infrastructure investments are critical because flying taxi operations require ground facilities, maintenance hubs, and operational coordination—challenges that exceed the scope of pure aircraft design.

A major technical milestone came with Lilium’s recent commencement of advanced aviation-grade battery pack production for its Lilium Jet aircraft. The company emphasized extensive testing of battery components with focus on performance, safety, and regulatory compliance. The targeted first piloted flight was planned for the end of 2024, representing a significant engineering checkpoint that validates the aircraft’s fundamental viability.

Market Opportunity and Investor Implications

Morgan Stanley has estimated the flying taxi market could reach $1.5 trillion by 2040, with some projections as high as $2.9 trillion. This massive addressable market reflects the potential to transform urban transportation. Companies like Boeing, which plans Asia-focused flying car deployments, and XPeng’s AeroHT subsidiary, which received thousands of pre-orders for its aircraft, illustrate how aerospace and automotive sectors view this opportunity.

The flying taxi stock sector remains in its commercialization phase, with regulatory approval being the critical path to revenue generation. Companies that successfully navigate FAA certification, secure capital partnerships, and establish real commercial routes will likely emerge as the category winners. Each of these three companies—Joby, Archer, and Lilium—brings distinct advantages in technology, partnerships, and market positioning as the industry transitions from development to deployment.

Investors monitoring the eVTOL space should track key milestones: FAA certification approvals, first commercial route launches, and partnership developments with established aviation or automotive firms. The flying taxi stock category will likely reward investors who identify leaders before mainstream commercial adoption accelerates.