"In
our first year, we will build 250 aircraft, our second year will
build 500 aircraft, our third year will build 650 aircraft and
then we scale it up to around 2,000 aircraft per year," CEO Adam
Goldstein told Reuters in an interview.
Archer aims to certify its pilot-plus-four-passenger aircraft,
'Midnight', by end-2024, though the U.S. Federal Aviation
Administration (FAA) is still in the process of drawing up
certification rules for these futuristic aircraft.
"In terms of aircraft production, we have estimated in our
Archer model ~20 units in 2025," JPM analyst Bill Peterson said.
"We are not negative on the space, but think it will take a
little longer to play out with the ramp not as steep as these
companies had projected in their SPAC decks from over a year
ago," he added.
Archer shares haven fallen 54% so far this year.
Once certified, the California-based start-up's electric
Vertical Take-Off and Landing (eVTOL) aircraft will compete in a
crowded market with dozens of other developers such as Joby
Aviation Inc and Vertical Aerospace Ltd vying to revamp urban
transportation.
The nascent sector, which is backed by industrial heavyweights
such as Toyota Motor Corp and Delta Air Lines, still faces
significant challenges relating to certification, developing a
suitable air traffic management system and battery technology
improvements, among others.
In May, the FAA said it was modifying its regulatory approach in
certifying eVTOLs by defining them as powered-lift aircraft
rather than small airplanes, injecting concerns over
certification delays.
Goldstein anticipates the industry may see demand for a thousand
eVTOL aircraft on an annual basis.
(Reporting by Aishwarya Nair in Bengaluru; Editing by Krishna
Chandra Eluri)
[© 2022 Thomson Reuters. All rights
reserved.]
This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|