Is Archer Aviation Stock a Millionaire Manufacturer?
Archer Aviation (NYSE: ACHR) A futuristic plane has been built and you can now see buzzing around the test site. The buzz is an appropriate description because the small passenger plane takes off vertically and lands and can only be operated over short distances. They are air taxis and Archer Air wants them to be a very big business.
If the company is right, stocks can help you become a millionaire. But there are more steps to go before the air taxi actually takes off. If you are working on Archer Aviation today, here's what you need to know.
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When digging out the story of Archer Aviation, you have to take a step back and give the company some respect. The achievements so far are impressive. The company took an idea and created a real product in a highly regulated and capital-intensive industry. The company's production facilities are scheduled to produce 10 midnight aircraft in 2025.
That said, the company's midnight aircraft currently only tests reliability. However, Archer Aviation is temptingly close to coming up with its ideas and creating a fully operated company from it. The next steps may be the biggest and most difficult steps to complete. For example, at the end of 2024, the company pointed out the FAA approval process, which is “approximately (about 13%) of the total compliance verification document before this final stage of certification.” A lot of work to do before commercial use can be done in the U.S. market before midnight. It may not cross the finish line in 2025.
Despite the fact that Archer Aviation is now preparing for that day so it can hit the ground. It is worth noting that running an airline, establishing an air taxi service in California, and that the FAA approved plans to operate a flight training program. Basically, everything the company needs now is approved aircraft.
Archer Aviation’s biggest driving force will be the establishment of the American Airlines taxi business. But that doesn't mean it will be the first air taxi service setup. In 2025, the most important goal is likely the company's efforts to establish air taxi services in Abu Dhabi.
While FAA approval in the United States would be a huge turning point in the business, Abu Dhabi will become the will of the company's air taxi model. Effectively, it attempts to create a template that can be used to set up an air taxi in other locations. In the United States, this will be a huge benefit and will also be in countries such as Ethiopia, Archer Air recently signed a partner looking to open an air taxi service.