Electric vertical take-off and landing (eVTOL) company Joby Aviation (JOBY +3.14%) entered 2025 neck-and-neck with its peers, including Archer Aviation (ACHR +3.48%), the UK's Vertical Aerospace (EVTL 3.01%), and Germany's Lilium Aerospace. However, it ended 2025 having massively outperformed Archer and Vertical Aerospace, with its 62.4% rise; meanwhile, Lilium is now insolvent. In addition, the company is entering 2026 in excellent shape.
A year of progress
Joby made progress on several fronts in 2025.
The company is ahead in the Federal Aviation Administration (FAA) certification race, and deals with Toyota, Delta Air Lines, and Uber (all investors in Joby) are helping it prepare to move from research and development toward commercialization. Toyota is assisting Joby with its world-class manufacturing expertise, a crucial requirement for Joby's vertical manufacturing model, which relies on developing its own technology. In contrast, Archer's asset-light approach involves integrating technology and components from established aerospace suppliers.
NYSE: JOBY
Key Data Points
Delta Air Lines offers a potential market for home-to-airport taxi services, and the Uber/Joby partnership provides Joby with the opportunity to realize its ambition of becoming a vertically integrated transportation services company. A model that involves manufacturing its own eVTOLs for use in its own transportation company.
Joby's operational progress
Additionally, in 2025, Joby announced a doubling of its aircraft production capacity at its Marina, California, manufacturing site. Management also announced plans to take part in the White House eVTOL Integration Pilot Program (eIPP). The eIPP allows eVTOL companies to start operations in "select markets ahead of full FAA certification: according to Joby Aviation.
Outside the U.S., Joby demonstrated its technology at the Dubai Airshow and plans to launch an air taxi service in Dubai in 2026. Furthermore, Joby signed a memorandum of understanding (MoU) in Saudi Arabia that includes a plan "to complete pre-commercial evaluation flights of its electric air taxi in the Kingdom in the first half of 2026."
Image source: Joby Aviation.
Is Joby Aviation stock a buy?
The company's progress is hugely impressive, not least as Archer's model is supposed to make certification more straightforward than Joby's go-it-alone approach to developing technology.
Moreover, it has an opportunity for a commercial launch in Dubai in 2026 and a move toward one in Saudi Arabia, while Joby plans Type Inspection Authorization (TIA) flights with FAA pilots in early 2026, the final stage before full type certification in 2026 or 2027.
As such, there are numerous noteworthy events and milestones in 2026 that could potentially boost the share price if successfully completed.
