Electric vertical takeoff and landing (eVTOL) vehicles are an emerging segment of aviation. These “flying cars” can lift off, hover, and land vertically like helicopters—yet cruise horizontally like jets. They promise to whisk commuters and cargo above congested city streets, as “Jetsons”-like air taxis for short trips. The concept falls under Urban Air Mobility (UAM), and analysts are optimistic about its potential: Morgan Stanley projects the UAM/eVTOL market could reach $1 trillion by 2040, and then balloon to $9 trillion by 2050.
Does this sci-fi sounding concept really have wings? As it turns out, yes. Breakthroughs in battery energy density are extending flight ranges. Regulators in the U.S., Europe, and China are actively developing certification frameworks. And airports have even begun constructing “vertiports” (mini helipads for eVTOLs) in major cities. Of course, key risks still remain: lengthy certification timelines, hefty cash burn, and the need to build public trust. Still, the momentum in 2025 is tangible. Multiple eVTOL developers are in final FAA testing stages, and big-name partners—from airlines to automakers—are in tow.
In this report, we highlight the top eVTOL stocks to watch in 2025—curated for their pure-play exposure to the eVTOL value chain, from eVTOL OEMs to urban air mobility operators and picks-and-shovels enablers.
Pure-Play eVTOL Manufacturers
These are pure-play eVTOL stocks – their primary mission is to design, certify, and manufacture eVTOL aircraft. Many emerged as startups and went public as SPAC mergers around 2021–2022 to fund ambitious development programs. These OEMs offer potentially the highest reward in the event of an eVTOL boom, but they also come with significant risk: they are mostly pre-revenue, burning cash to get aircraft certified and into commercial service.
Joby Aviation (NYSE: JOBY)
HQ: USA; First mover with backing to go the distance.
Joby Aviation is widely seen as the front-runner in the eVTOL race. This California-based company has been flying full-scale prototypes for several years and is aiming for FAA certification of its five-seat air taxi by 2025 – with plans to launch passenger services in 2025 or 2026. Joby’s eVTOL sports a ~150-mile range and 200 mph top speed, impressive specs made possible in part by advances in battery tech (helped by partners like Toyota). What sets Joby apart is its strong strategic partnerships and support: Toyota invested roughly $894 million and is helping Joby set up a factory, and Joby acquired Uber’s flying taxi division in 2020, forging a plan to eventually integrate air rides into Uber’s app. Joby has also secured lucrative U.S. defense contracts – nearly $1 billion in potential DoD funding – by providing eVTOL prototypes for military use, which both validates its technology and brings in non-dilutive cash. In 2022, Joby became the first eVTOL company to get a Part 135 Air Carrier Certificate, allowing it to operate an air taxi service. It’s using this certificate initially with conventional aircraft to lay the groundwork.
Joby’s endgame is to both manufacture eVTOLs and operate its own ride-sharing network of air taxis. It’s a bold, vertically integrated strategy. However, as the pioneer, Joby faces intense execution risk. It must clear final FAA certification testing, scale up manufacturing, and start commercial operations almost simultaneously – all without a predecessor to learn from. Any delay in certification or hiccup in early service (especially any safety incidents) could dramatically affect its timeline and funding needs. With no revenue yet, Joby’s multi-billion dollar valuation hinges on hitting near-perfect milestones in the next two years.
Archer Aviation (NYSE: ACHR)
HQ: USA; United’s Chosen Air Taxi with a Factory in the Wings
Archer Aviation is another U.S. leader aiming to launch short-hop eVTOL flights, and it’s doing so with a more pragmatic, partnership-heavy approach. Archer’s “Midnight” aircraft is built for ~20–50 mile urban trips – think airport to downtown commutes – and designed to recharge in as little as 10 minutes between flights. This laser-focus on short, frequent missions means Archer doesn’t chase extreme range, which helps simplify design and certification. The company has been very savvy in partnering with established players: it secured a 200-aircraft preorder from United Airlines. United has even put down deposits for some, a strong vote of confidence. The idea is to use Archer’s eVTOLs on high-demand routes like New York’s Newark Airport to Manhattan, cutting a 1+ hour drive to ~8 minutes by air. On the manufacturing side, Archer teamed up with auto giant Stellantis, which is providing manufacturing expertise, a ready-to-go factory in Illinois, and even funding support. This alliance spares Archer from a lot of capex and should accelerate production by 2025–2026. Archer’s timeline targets late 2025 for its first air taxi service, contingent on FAA approval.
Archer’s model is “build with giants.” By allying with a carmaker for production and an airline for routes and fleet purchase, Archer reduces execution risk and gains credibility beyond its startup size. Still, Archer needs to certify its aircraft and ramp up production in a very short window. Any regulatory delays or supply chain issues could push out its launch, and the company, while well-funded now, will require additional capital to scale. It’s also contending with a crowded field – being United’s pick is great, but Archer must stay on schedule to keep its partners committed.
EHang Holdings (NASDAQ: EH)
HQ: China; Autonomous Air Drones – Already Flying in Asia
China’s EHang is unique among eVTOL stocks on this list, and not just due to geography. EHang is all-in on autonomy and has arguably achieved milestones others are still dreaming of. The company’s signature vehicle is the EH216-S, a two-seat drone-like electric aircraft that flies pilotless – essentially a big autonomous quadcopter for people. In a world-first, EHang received type certification in China for this passenger-grade pilotless eVTOL in 2023. That means Chinese regulators have approved it for commercial use, a huge validation of EHang’s technology. EHang has already launched limited tourism flights in several Chinese cities, shuttling visitors on short aerial sightseeing trips. It even operates a vertiport network in Shenzhen, reportedly supporting hundreds of flights a day for sightseeing and emergency services. Unlike most peers, EHang is generating early, albeit modest, revenue by selling units for tourist operations and logistics. It also has a strategic partnership with local governments in China and recently attracted a $95 million investment from auto giant Geely to bolster its expansion.
EHang’s big vision is urban air mobility that doesn’t require pilots – reducing cost and scaling more like a rideshare network. While EHang is ahead in autonomy at home, it faces skepticism elsewhere. Western regulators (FAA/EASA) have not yet greenlit pilotless flights, so EHang must prove its safety record in China can translate abroad. Geopolitical concerns also come into play: as a Chinese company, EHang’s U.S. listing and access to Western markets carry extra uncertainty.
Eve Holding (NYSE: EVEX)
HQ: USA; Embraer’s Air Taxi Spin-off with a Full Order Book
Eve is an eVTOL developer that was spun out of Embraer, a major regional jet manufacturer in Brazil. With Embraer as a parent/partner, Eve has access to decades of aerospace know-how, certification experience, and a global support network. Eve’s proposed eVTOL is a straightforward piloted air taxi with about a 60-mile range – designed to be practical and reliable rather than radical in design. This down-to-earth approach has won it a lot of friends in the industry: Eve boasts an impressive order pipeline of around 2,800 aircraft via non-binding LOIs from customers in 13 countries. Airlines like United Airlines and leasing companies have lined up, with Eve’s total potential orders valued around $8 billion. Essentially, many players want to lock in supply of Eve’s air taxi once it’s ready. Eve also isn’t just building an aircraft – it’s developing software for urban air traffic management, aiming to offer cities a whole ecosystem solution for air mobility. Eve’s goal is certification by 2026 and entry into service soon after.
Eve’s differentiator is its strong parentage and industry credibility. Being born from Embraer means airlines and regulators may have more trust in Eve’s product, as Embraer’s reputation is on the line too. This could smooth certification and adoption. However, like its peers, Eve is pre-revenue and still needs to actually build and certify the aircraft – a process that is never guaranteed to stay on schedule. If technical hurdles or supply chain problems arise, delays could erode the confidence of its many MOUs.
Vertical Aerospace (NYSE: EVTL)
HQ: UK; UK’s Flying Taxi with Big Airline Pre-Orders
Vertical Aerospace is a British eVTOL maker that caught attention by securing partnerships with some of the world’s top airlines. Its VX4 aircraft is designed for four passengers plus a pilot, targeting up to ~100-mile regional flights at speeds around 150 mph. Vertical smartly went after airline customers early: it has conditional orders and pre-orders from the likes of American Airlines, Virgin Atlantic, Avolon (aircraft leasing), and Japan Airlines, totaling over 1,300 units at one point. American alone pre-ordered up to 250 and even made a down payment on 50, signaling real commitment. These partnerships not only validate market demand but also mean Vertical could scale via airline operating networks once certified. On the tech side, Vertical is collaborating with established suppliers – e.g. Rolls-Royce for electric propulsion and Honeywell for flight controls – rather than reinventing every wheel. As of early 2025, Vertical was deep into testing and had raised about $90 million in new funding to get through critical flight tests. The company is aiming for certification under Europe’s EASA regulations, potentially by 2026, counting on a more accommodating regulatory environment in the EU (a “European certification gambit” as they call it).
Vertical Aerospace is a high-risk, high-reward eVTOL stock. Like many SPAC-era startups, its stock has been under pressure, undergoing a reverse split after falling below $1 due to supply chain delays in 2024. While Vertical has a great roster of potential customers, it still must deliver a certified aircraft on time. Its cash needs are high and ongoing, and the recent fundraise gets it only into late 2025. If capital markets remain tight, Vertical might struggle to secure the billions likely required to ramp up manufacturing.
Urban Air Mobility & Vertiport Operators
These are companies preparing to run the air taxi networks and build the “skyports” they’ll need. Think of them as the Ubers and airports of the eVTOL world. They don’t make the aircraft; they’re laying the groundwork to operate eVTOL fleets as early service providers. Compared to the previous pure-play eVTOL stocks, these companies often have existing helicopter-based businesses that already provide revenue.
Blade Air Mobility (NASDAQ: BLDE)
HQ: USA; The “Uber of the skies” getting eVTOL-ready.
Blade is an aviation services company that aims to make booking an air taxi as easy as hailing a rideshare. Today, Blade offers on-demand helicopter and seaplane flights in cities like New York and Los Angeles, but its real goal is to transition to eVTOL aircraft as soon as they’re available. The company has spent years building out routes, heliport networks (vertiports), and a loyal customer base of time-sensitive travelers. By doing so, Blade is positioning itself as the go-to platform where you’d book your future air taxi ride. Its strategy is asset-light: Blade doesn’t build or even own the aircraft – it partners with operators and manufacturers. To this end, it has agreements with eVTOL makers like Beta Technologies and Eve to supply aircraft to Blade’s network once certified.
Think of Blade as the “toll collector” on an aerial highway. It’s creating the infrastructure and brand, ready to plug in whatever eVTOL vehicles come off the production line. If eVTOLs launch on schedule, Blade could scale up passenger services very quickly without huge capex on manufacturing. That said, timing is everything. Blade is burning cash (≈$27 M net loss in 2024) to develop routes and lounges ahead of eVTOL availability. If aircraft certification delays drag on, Blade must sustain operations and investor patience until revenue ramps up. It’s a race against the clock to bridge to the eVTOL era.
Bristow Group (NYSE: VTOL)
HQ: USA; From helicopters to eVTOL air taxis.
Bristow is a long-established operator of vertical lift aircraft – historically helicopters for offshore oil, gas, and search-and-rescue. It’s leveraging that expertise to become a go-to operator for eVTOL services. Uniquely, Bristow has partnered with numerous eVTOL manufacturers globally: for example, it has orders or MOUs to operate aircraft from Beta Technologies, Lilium, Overair, Volocopter, and Eve among others. In one deal, Bristow agreed to purchase up to 80 Volocopter air taxis for U.S. and UK routes. Essentially, Bristow plans to run the “air taxi airlines” so that eVTOL startups can focus on building aircraft. Its decades of experience in pilot training, maintenance, and vertiport logistics are a strong differentiator – few companies know more about safely operating fleets of VTOL aircraft at scale.
Bristow is a vital bridge to the UAM era, but it must execute a careful transition from its legacy business. The company’s core revenue today still comes from conventional helicopters (often serving volatile oil & gas markets). The company is essentially investing in a future that isn’t here yet: eVTOL networks won’t generate meaningful revenue until later this decade. Bristow could face a financial squeeze if the offshore helicopter market softens before eVTOL operations ramp up. It’s also making capital commitments (like pre-ordering aircraft) that may not pay off if certain eVTOL models fail to certify.
Surf Air Mobility (NYSE: SRFM)
HQ: USA; Electrifying regional air travel.
Surf Air is a small-cap eVTOL stock taking a different route into the urban air mobility space. Instead of building new eVTOLs, Surf Air focuses on electrifying existing small aircraft for regional hops. The company runs a membership-based airline service in California using turboprop planes and is acquiring Ampaire, a pioneer in hybrid-electric plane retrofits. The idea is to convert Cessna Grand Caravans and other 10–19 seat commuter planes to hybrid-electric power, creating cleaner, quieter flights between regional airports. This strategy could beat eVTOLs to market by using known aircraft platforms that are easier to certify once electrified. Surf Air’s premium, club-like service for business travelers means it can charge more and be viable sooner by catering to a wealthy niche.
Surf Air offers a speculative play on near-term electrified air travel. It has a compelling vision to “fly over traffic” for upscale commuters, but investors should be cautious: the company’s financial runway is limited, and any setback in technology or uptake could leave it grounded. The company’s plan hinges on successfully certifying hybrid-electric retrofits, which involves regulatory risk and technical challenges with battery weight and reliability. It’s also competing with emerging eVTOL options that could eventually draw away the same customer base.
Picks-and-Shovels eVTOL Enablers
The last category of eVTOL stocks provides a way for investors to align with the urban air mobility theme while staying cushioned by diversified businesses. These companies supply key technology that makes eVTOL flight possible – from high-density batteries to flight control systems. They don’t build the aircraft, nor operate them, but rather provide the “picks and shovels” for the industry.
Amprius Technologies (NYSE: AMPX)
HQ: USA; Next-gen batteries for longer flights.
Amprius is a battery innovator producing silicon-anode lithium-ion cells with world-leading energy density – up to 500 Wh/kg. For eVTOL developers, higher energy per weight is gold, as it means longer flight range or more payload. Amprius batteries can significantly extend an eVTOL’s range compared to standard EV batteries. The company is positioning itself as a critical supplier to eVTOL and drone makers; it has delivered prototype cells to aerospace partners and even received a high-volume order from an unnamed eVTOL OEM.
As eVTOLs move from prototypes to commercial models, demand for Amprius’s lightweight batteries is poised to grow, making it a behind-the-scenes supplier to the whole industry. That said, Amprius is still in ramp-up mode, and scaling cutting-edge battery tech to mass production is hard. There’s also competition from larger battery giants and other startups. If a rival chemistry (like solid-state batteries) leapfrogs silicon-anodes, or if Amprius encounters manufacturing hurdles, its advantage could narrow. For now, though, it’s seen as a leader in a niche crucial for eVTOL success.
SES AI Corp (NYSE: SES)
HQ: USA; Li-metal battery pioneer.
SES is developing lithium-metal batteries, a next-generation technology that could substantially boost energy density and reduce charge times for electric aircraft. The company’s cells use a lithium-metal anode, promising better performance than today’s lithium-ion. SES actively markets its batteries for eVTOL applications – such cells could allow air taxis to fly longer or charge quicker between hops. It has partnerships with major automakers and aerospace firms to bring this technology to market.
SES’s innovation, if successful, addresses one of eVTOL’s biggest challenges (battery weight/efficiency) with a potentially safer, higher-capacity solution than standard batteries. However, SES is essentially an R&D-stage company. Commercialization of lithium-metal batteries is unproven, with plenty of engineering challenges still to solve. The company’s valuation hinges on its tech becoming viable not just for cars but also for certifiably safe aerospace use.
Honeywell International (NASDAQ: HON)
HQ: USA; Avionics & engines powering eVTOLs.
Honeywell is a diversified industrial giant, but it’s become a critical enabler in the eVTOL space through its aerospace division. The company supplies flight control computers, avionics like its cloud-connected “Anthem” cockpit, and electric propulsion units to a “who’s who” of eVTOL startups. For example, Honeywell’s fly-by-wire controls and avionics are being used in Vertical Aerospace’s VX4. It’s also providing actuators and thermal management for Archer’s Midnight aircraft, and partnering with Hyundai’s Supernal on avionics for its air taxi. Many eVTOLs are built around Honeywell’s systems, which makes Honeywell a picks-and-shovels play on whichever manufacturer succeeds. The company’s aerospace pedigree and global support network give it an edge in winning these high-tech contracts.
Honeywell offers stability and broader exposure than pure-play eVTOL stocks. The main downside for theme investors is purity: eVTOL-related products are a small piece of Honeywell’s overall business, which spans everything from jet engines to thermostats. Honeywell’s price may be driven more by its core defense and avionics business cycles than by eVTOL wins. If the air taxi market takes off, Honeywell would benefit, but that growth would also be diluted within a large cap conglomerate.