Air taxi companies Joby and Archer Aviation take off on Trump’s executive order
Air taxi companies Joby Aviation and Archer Aviation are each up about 10% on Monday following President Trump’s recent executive orders set to boost their businesses.
The orders, issued after the bell on Friday, work to promote the US drone industry and restrict drone flights near sensitive or high-profile locations like oil refineries, amusement parks, and sports stadiums. They also establish a program aimed at speeding up the adoption of air taxi tech, built by companies like Joby and Archer.
It’s been a big year for the electric vertical takeoff and landing (eVTOL) business. Joby recently announced a $250 million investment from Toyota, and Archer (already the “official air taxi provider” of the LA Olympics in 2028) announced an NYC partnership with United Airlines in April. Hyundai, Boeing, and Airbus are all also working on their own air taxi businesses.
Last week, Morgan Stanley estimated the air taxi and broader “low-altitude economy” could “eventually vastly exceed the size of today’s automotive market.” For now, the air taxis being built hold four passengers and a pilot.
