Soaring about 140% over the past year, Archer Aviation (ACHR -1.92%) has provided some considerable lift to investors' portfolios. But plenty of investors who haven't taken flight with the electric vertical takeoff and landing (eVTOL) stock may be standing on the tarmac wondering if it's too late for them to buy.
The answer is clear: Archer Aviation still has plenty of growth potential in the tank, making it a great consideration for growth investors.

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Archer's huge new market opportunity is underappreciated
From its partnership with United Airlines to develop an air taxi network (in addition to United's option to purchase up to $1.5 billion of Archer eVTOL aircraft), to partnerships with Abu Dhabi Aviation and Ethiopian Airlines, to collaborating with Stellantis to strengthen its manufacturing capabilities, Archer is well-positioned to hit the ground running when it receives its final certification from the Federal Aviation Administration.
These factors have supported the stock's massive rise this past year, but Archer's partnership with defense start-up Anduril could be another major factor contributing to further growth. The two companies are developing hybrid eVTOL aircraft for defense applications, and it seems that Archer has high aspirations for where this collaboration could be headed.
In its 2024 10-K, Archer identifies two areas in which it plans to operate: commercial and defense -- though it's worth noting that Archer has worked with the United States Air Force since 2021.
Another interesting angle to Archer's defense work is its partnership with artificial intelligence (AI) and data analytics specialist Palantir Technologies (PLTR 6.46%) to develop AI software for aviation systems. Since Palantir also partners with Anduril, it's not absurd to imagine the three companies collaborating to develop sophisticated eVTOL aircraft featuring AI.
Should investors prepare for takeoff with Archer stock?
Sadly, global tensions remain startlingly high, and defense spending will likely be a priority for nations in the coming years. While Archer stock has soared over the past year, the company's pursuit regarding defense applications suggests there's room for shares to ascend even higher in the period ahead.