Electric vertical takeoff and landing (eVTOL) aircraft, the long promised “flying cars” from science fiction, are finally nearing commercial reality. They take aim at the chronic failure of urban infrastructure: gridlock, a problem costing the U.S. economy over $74 billion annually in lost time and fuel. By unlocking the third dimension with quiet, electric aviation, these vehicles promise to create a new transportation layer, bypassing ground congestion entirely. The industry is now exiting its R&D phase and entering a brutal “great filter”—the gauntlet of regulatory certification. Dozens of concepts have emerged, but only a few well-capitalized firms are positioned to begin commercial operations going into 2026, likely creating a winner-take-most market.
This report highlights the top eVTOL stocks to watch as the nascent Advanced Air Mobility (AAM) market enters its critical inflection point from prototypes to certified commercial flight.
Why eVTOLs, why now?
The primary demand driver for eVTOLs isn’t convenience; it’s the unit economics of time. An eVTOL flight from JFK Airport to a Manhattan vertiport, for instance, is projected to take under 10 minutes for ~$200. This competes directly with a 60-75 minute Uber Black ride, but its crucial advantage is predictability. By eliminating ground traffic, eVTOLs offer a reliable travel time for high-stakes transit like catching international flights or reaching critical business meetings. This focus on business and premium leisure travel creates an early adopter market in major metropolitan hubs.
Compared to other next-gen transport networks, eVTOLs also offer superior capital efficiency. A network of urban vertiports can be built for tens of millions, often by retrofitting existing structures like parking garages. This contrasts sharply with the $100M+ per-mile cost of U.S. high-speed rail, which requires massive capital upfront and years for land acquisition. Because eVTOLs use free airspace, the network can be scaled modularly. This asset-light approach de-risks investment compared to the all-or-nothing commitment of fixed ground infrastructure.
This powerful economic pull is now met by technological breakthroughs that finally make eVTOLs viable, especially in next-gen batteries (>400 Wh/kg) and quiet propulsion technologies.
How to Invest in eVTOLs
Investing in eVTOLs and the AAM sector is high-risk, high-reward. The field is dominated by pre-revenue companies whose value depends on a single binary event: type certification from regulators like the FAA and EASA. These are multi-year, billion-dollar gauntlets to validate every aircraft component from battery thermal runaway protection to the flight control software.
This unique risk creates three broad investment strategies:
- Pure-Play OEMs: A direct wager on a specific company navigating the certification gauntlet. These include the vertically integrated U.S. leaders (Joby and Archer) and several global names carving out differentiated niches.
- AAM Operators: A bet on the network effects and services, paired with a more capital-light model. This is currently a category of one.
- “Picks-and-Shovels” Enablers: Investing in the critical suppliers of batteries, avionics, and software, reducing single-approval risk.
Let’s explore the top eVTOL stocks to watch in each.
Pure-Play eVTOL Leaders
These companies are the purest wager on the AAM revolution. They are vertically integrated, designing their own aircraft to operate their own air taxi services. Investing in these front-running eVTOL stocks is a high-stakes, binary bet on one company navigating the brutal FAA certification gauntlet. Success means dominant market share, while failure or significant delays could prove existential.
Joby Aviation (NYSE: JOBY)
HQ: USA; FAA frontrunner with Toyota and Delta partnerships.
Joby Aviation is the frontrunner in the race for U.S. eVTOL certification, operating as a vertically integrated manufacturer and future air taxi service. Its S4 aircraft is a piloted, four-passenger vehicle with a vectored thrust design using six tilting propellers. This configuration achieves a 200 mph cruise speed and a quiet acoustic profile essential for urban operations. Joby’s strategy is to control the entire process—from manufacturing and flight operations to its software, which now includes Blade’s recently acquired air taxi business. This capital-intensive model, similar to Apple’s hardware-plus-software approach, is designed to capture maximum value and control the user experience from start to finish.
The company’s appeal hinges on its regulatory momentum and deep-pocketed partners. As of Q3 2025, it has progressed deep into Stage 4 of the FAA’s five-stage certification, completing roughly 70% of required submissions. This gives it a clear lead over domestic rivals for a planned 2026 launch. Joby’s credibility is backed by a manufacturing partnership with Toyota for automotive-scale production expertise and a landmark agreement with Delta Air Lines to operate exclusive airport shuttles. With a substantial cash reserve to fund its launch, Joby represents a direct wager on the company most likely to be first to market in the U.S. and set the industry standard.
Archer Aviation (NYSE: ACHR)
HQ: USA; De-risked manufacturing and launch partner in United Airlines.
Archer Aviation is Joby’s main U.S. competitor, pursuing a pragmatic, capital-efficient path to market by relying on partners for manufacturing and operations. Its flagship aircraft, Midnight, is a piloted, four-passenger eVTOL with a “lift + cruise” design. This system uses twelve propellers—six for vertical lift and six for forward cruise—a mechanically simpler approach intended to streamline certification. Archer’s strategy is one of de-risking; it uses outside expertise for non-core functions, most notably its partnership with automotive giant Stellantis to build a high-volume manufacturing facility. This allows Archer to concentrate its capital on aircraft design, software, and FAA validation.
Archer’s strength lies in its manufacturing scalability, clear go-to-market plan, and strong regulatory progress. Securing Stellantis’s production prowess helps Archer bypass a massive hurdle for any new OEM. Its commercial partnership with United Airlines, which includes a $1 billion conditional order for 100 aircraft, provides a validated initial market and route network. As of late 2025, Archer has already secured its FAA Part 135 and Part 145 certificates, permitting it to operate as an air carrier and repair station. This allows the company to build its operational muscles ahead of Midnight’s final type certification. With a strong cash position and a well-defined partner network, Archer is a compelling fast-follower with a de-risked roadmap.
Global & Niche eVTOL Innovators
These innovators avoid direct competition with U.S. leaders by pursuing alternative paths to market. They use distinct technologies, business models, or geographic focuses—from EHang’s certified autonomous drones in China to Eve’s platform model backed by Embraer. These eVTOL stocks offer exposure to different risk profiles and market dynamics, providing compelling alternatives for a diversified AAM portfolio.
EHang Holdings (NASDAQ: EH)
HQ: China; World’s only certified, revenue-generating passenger eVTOL company.
EHang Holdings is the world’s first and only eVTOL company to achieve full commercial certification for passenger-carrying flights. The Chinese firm has pioneered an autonomous, two-passenger aircraft, the EH216-S, using a simple multicopter design with 16 fixed propellers for redundant safety. EHang’s strategy focuses on selling its aircraft to operators for specific uses like tourism and short-distance shuttles, rather than operating its own network. This hardware-focused business model has allowed it to generate revenue and achieve adjusted profitability years ahead of its Western peers, shifting its profile from a speculative venture to a growth-stage enterprise.
EHang’s primary advantage is that it is already a commercial entity. Having secured the “full suite” of approvals from the Civil Aviation Administration of China (CAAC)—Type Certificate, Airworthiness Certificate, and Production Certificate—it has already launched commercial flights in cities like Guangzhou and Hefei. This regulatory validation in a major market is a massive de-risking event. Its focus on the Asian market, where government support for AAM is strong, gives it a defensible niche. While questions remain about its autonomous model’s path into Western airspace, EHang’s proven technology and first-mover status in a massive, protected market make it a unique, revenue-generating player.
Eve Holding (NYSE: EVEX)
HQ: Brazil; Embraer-backed AAM platform with a massive order book.
Eve Holding, a spin-off from Brazilian aerospace conglomerate Embraer, is positioned as a global AAM provider, offering an eVTOL, urban air traffic management software, and operational services. Its aircraft is a lift + cruise design with a piloted cockpit, four passenger seats, eight lift propellers, and a single pusher prop for cruise. The design leverages Embraer’s decades of experience certifying conventional aircraft. Eve’s strategy is to become the central nervous system for AAM, providing the foundational software and operational support that global fleet operators will need. This creates a recurring revenue model less dependent on its own aircraft sales.
Eve’s potential rests on Embraer’s certification legacy and its asset-light, platform-based business model. With access to Embraer’s global engineering talent, supply chain, and customer support, Eve has a credible path to certifying its aircraft with both Brazilian (ANAC) and U.S. (FAA) regulators, targeting a 2026 entry into service. Its massive, albeit non-binding, order book of nearly 2,800 vehicles from a diverse group of customers—including operators like Bristow—is the largest in the industry and validates its approach. Eve is not just selling an aircraft; it’s selling a turnkey AAM operating system. This broad focus, backed by a proven aerospace leader, makes Eve a more diversified, less vertically integrated play on the global AAM market.
Vertical Aerospace (NYSE: EVTL)
HQ: UK; Asset-light model using a premier aerospace partner supply chain.
Vertical Aerospace, a UK-based innovator, is pursuing a differentiated design and an asset-light business model. Its flagship aircraft, the VX4, is a piloted, four-passenger vehicle that combines vectored thrust with a traditional wing to achieve the cruise efficiency of a conventional airplane. Vertical outsources the development and supply of all major components to a consortium of top-tier aerospace firms, including Honeywell (flight controls), Rolls-Royce (propulsion), and GKN Aerospace (airframe). This strategy reduces R&D and manufacturing costs, allowing Vertical to act as a system integrator rather than a ground-up manufacturer.
The company’s future depends on its “best-of-breed” supply chain and a certification pathway focused on Europe (EASA). By using established aerospace partners, Vertical aims to de-risk its technical development and simplify certification, as its core systems come from companies with decades of experience. This approach has attracted a substantial pre-order book from airlines like American Airlines and Virgin Atlantic. However, the company’s 2028 certification target lags U.S. rivals, and it requires substantial new funding to reach commercialization. As of Q3 2025, the VX4 is in its final “transition” flight testing phase.
AAM Operators & Service Providers
Instead of building aircraft, these companies create the operational backbone for the AAM network. They use deep aviation experience to provide flight services, maintenance, and fleet management, remaining aircraft-agnostic. True operator eVTOL stocks are rare, with Bristow currently in a category of one.
While major airlines like United, American, and Delta have placed significant pre-orders for eVTOLs, they are not AAM operators in this context. Their eVTOL strategy is a small, forward-looking venture within a colossal existing airline business.
Bristow Group (NYSE: VTOL)
HQ: USA; Profitable legacy operator providing aircraft-agnostic AAM flight services.
Bristow Group, a leader in vertical flight, operates one of the world’s largest helicopter fleets for the offshore energy and search-and-rescue sectors. Instead of building its own eVTOL, Bristow is positioning itself to be the premier operator and service provider for the AAM industry. Its model uses its deep experience in flight operations, maintenance, and pilot training to offer a “ready-to-fly” service for multiple eVTOL manufacturers. By partnering with and placing pre-orders with several OEMs—including Eve Holding, Vertical Aerospace, and Overair—Bristow diversifies its risk away from the failure of any single aircraft design.
For investors, Bristow is a profitable, revenue-generating way to participate in the AAM ecosystem’s growth without bearing the binary risk of vehicle certification. The company is already a pillar of the vertical lift industry, with a strong balance sheet and consistent cash flow. Its AAM strategy is a natural extension of its core business, allowing it to sell new eVTOL services to its existing enterprise customers while capturing new markets in urban mobility. Bristow can provide the complex operational infrastructure that new entrants will struggle to build themselves, making it an indispensable partner for OEMs. It provides a combination of stable legacy operations and new eVTOL upside.
Picks-and-Shovels eVTOL Enablers
These firms supply critical components—from advanced batteries to certifiable flight computers—needed by all eVTOL manufacturers. Investing in these enabling eVTOL stocks diversifies risk across multiple aircraft programs. Their success depends not on picking a winning vehicle, but on the technological adoption of the entire AAM industry.
Amprius Technologies (NYSE: AMPX)
HQ: USA; Supplying critical, industry-leading high energy density batteries.
Amprius Technologies is a key enabler for the AAM industry, producing next-generation lithium-ion batteries with a proprietary Silicon Anode Platform. Its core innovation is a silicon nanowire anode that increases battery energy density and power output compared to conventional graphite. As of late 2025, its commercial cells ship with a validated energy density of 450 Wh/kg—far above the ~300 Wh/kg of typical automotive cells. This performance is a critical unlock for eVTOLs, enabling the longer flight times and heavier payloads required for profitable routes. The company’s high-power cells are also essential for meeting the immense energy demands of vertical takeoff.
Amprius provides a “picks-and-shovels” play on the entire AAM sector, as it supplies the single most critical component for high-performance electric aviation. By supplying multiple aerospace and defense customers, including Airbus and private eVTOL developer AIBOT, Amprius is not tied to the success of a single OEM. The company has already reached a key financial milestone, achieving its first positive gross margin in mid-2025 on the back of a 350% YoY revenue surge. With a new high-volume manufacturing facility scaling up, Amprius is positioned to become the go-to battery supplier for any application where energy density is the primary performance metric.
SES AI Corp (NYSE: SES)
HQ: USA; Disruptive Li-Metal battery tech de-risked by AI safety.
SES AI is a battery company focused on commercializing high-performance Lithium-Metal (Li-Metal) batteries. Li-Metal is considered a “holy grail” chemistry for its potential to deliver much higher energy density than even silicon anode batteries. SES’s approach combines a protective anode coating with an AI-powered safety software called Avatar, which uses machine learning to monitor cell health and predict failures. This hardware-software combination aims to solve the historic safety and cycle-life challenges of Li-Metal batteries. While initially focused on the automotive market through partnerships with GM, Honda, and Hyundai, its technology is directly applicable to eVTOLs.
SES is a high-risk, high-reward bet on a disruptive battery chemistry with a practical commercialization plan. Rather than waiting for a perfect solid-state solution, SES is bringing Li-Metal to market with a software-enhanced safety system. The company’s recent acquisition of UZ Energy also signals a strategic move to diversify into the stationary energy storage market for AI data centers, providing a nearer-term revenue path while its Li-Metal technology matures. This two-pronged strategy—long-term disruption in mobility and near-term revenue from energy storage—de-risks its profile. Investing in SES is a wager that its AI-powered safety platform will unlock the performance gains of Li-Metal, making it a critical supplier for next-generation EVs and eVTOLs.
Honeywell International (NASDAQ: HON)
HQ: USA; Blue-chip supplier of flight-critical systems to the industry.
Honeywell, a diversified aerospace and industrial giant, is a foundational “picks-and-shovels” supplier for the AAM industry. Honeywell provides flight-proven systems that eVTOL startups need to design, fly, and certify their vehicles. Its AAM product portfolio is extensive, including its compact fly-by-wire flight control system, the advanced Anthem flight deck, high-power electric motors, and thermal management hardware. By offering a comprehensive suite of pre-integrated, certifiable components, Honeywell acts as a crucial accelerator for the entire sector, helping startups avoid reinventing core aerospace systems from scratch.
Honeywell represents the safest, most diversified way to invest in the AAM supply chain. As a profitable, blue-chip company, it carries none of the binary risks of pre-revenue startups. Its success is not tied to a single OEM; instead, it profits from the growth of the entire market. The company has secured major supply contracts across the industry, including a landmark agreement with Vertical Aerospace for flight controls and a partnership with Eve Holding for avionics. For Honeywell, AAM is a high-growth business line within its massive and stable Aerospace division.