With these companies commercializing eVTOL aircraft in 2025, they are poised for tremendous growth over the next five years.
Flying car stocks could make millionaires. The eVTOL industry is at an interesting time, with several companies working toward commercialization within the next 12 to 24 months. First movers will have an advantage in a promising industry for decades to come.
Flying car stocks have been relatively weak in recent quarters. However, business developments remain positive for some of the best companies in the industry. So now is a good time to buy the best stocks before they skyrocket.
In terms of industrial potential, the global flying car market is estimated to be worth $920.5 million by 2030. Moreover, the market size is expected to reach $1 trillion by 2040. Some of the best flying car companies are already pursuing global expansion. Because the addressable market is large, there is potential for massive value creation.
So let's talk about three flying car stocks that could make you a millionaire in the next five years.
Archer Aviation (ACHR)
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Despite having made several modifications over the past 6 months, archer aviation (New York Stock Exchange:ACHR) share price is up 96% in 12 months. The current downside is a great opportunity to accumulate before ACHR stock skyrockets.
On the positive side, Archer is scheduled to begin commercial service in the U.S. in 2025. The company expects to complete its manufacturing facility this year to produce 650 of his eVTOL aircraft per year.
Recently, Archer announced that they will cooperate falcon aviation Archer plans to start operating flying cars in Dubai and Abu Dhabi as early as 2025. In India, Archer plans to begin commercial operations in 2026 in partnership with Interglobe.
AQrcher plans to be present in three countries by 2026 and already has a $3.5 billion backlog. The backlog could grow further as the company forges partnerships in more countries. Overall, it looks poised for impressive growth over the next few years, and ACHR stock is poised to deliver multi-bagger returns.
EHang Holdings (EH)
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EHang Holdings (NASDAQ:Eh) stock has increased 76% in the last month. The rally from oversold levels is likely to be sustained by the commercialization of eVTOL aircraft.
After obtaining the necessary certifications, EHang completed its debut commercial flight demonstration in Guangzhou and Hefei in December 2023. The company also delivered 52 EH216s in 2023. Deliveries are likely to increase rapidly over the next 24 months. This is highlighted by the company's announcement in February of its EH216-S eVTOL, which retails for $410,000, for international markets.
EHang is partnering with Wings Logistics Hub to purchase up to 100 EH216 series eVTOLs. The partnership will focus on the UAE, Middle East and North Africa. Additionally, EHang has conducted thousands of test flights in European and Asian countries. This could lead to a surge in orders for his eVTOL aircraft in the coming quarters.
Joby Aviation (JOBY)
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joby aviation (New York Stock Exchange:joby) Stocks have been in correction mode for the past two quarters. However, business development continues to be good and it is a good time to buy for multibagger profits.
In terms of business development, Joby Aviation has completed three out of five stages of the type certification process. The company is on track for commercialization in 2025. Outside the United States, the company has signed a definitive agreement with the Dubai government that includes exclusive rights to operate air taxis in the Emirate of Dubai for six years.
It's worth noting that Joby ended 2023 with a $1 billion cash buffer. This gives you greater financial flexibility to invest in your manufacturing operations. Additionally, the company expects to have a cash buffer of $440 million to $470 million at the end of the year. Therefore, we do not believe there will be any dilution of the stock over the next 12 to 18 months.
On the date of publication, Faisal Humayun did not have (directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer and are influenced by InvestorPlace.com. Publishing guidelines.
