Archer stock pops as company unveils military craft with Anduril
Okçu Aviation CEO Adam Goldstein said the company is focused on certifying air taxis and flying them by the 2028 Olympics in Los Angeles.
“This has always been an ambitious goal,” he told CNBC’s Phil LeBeau at the Farnborough Air Show in England on Monday. “This is still an ambitious target, but we will certainly do our best to get there.”
Archer announced on Monday Thunder autonomous Vertical take-off and landing defense vehicle with Anduril, designed to accompany crewed aircraft and helicopters. Companies first join forces In 2024.
Shares gained more than 18%.
Thunder GTM by Anduril.
Courtesy: Anduril
Archer is known for creating electric vertical takeoff and landing aircraft aimed at reducing emissions and traffic in crowded urban areas. But the technology has faced a number of regulatory and infrastructure hurdles that have delayed certification timelines.
In recent months, Archer and his colleagues have taken advantage of President Donald Trump’s latest eVTOL pilot program, which aims to accelerate deployment with testing in 26 states.
“This is really critical to gaining the trust of the public and the regulators, which will ultimately lead to our certification,” Goldstein told CNBC. “This step will be extremely critical in allowing us to meet these timelines.”
Archer and its peers have also steadily expanded their defense portfolios as the US military invests in new technology on the battlefield and adds more artificial intelligence tools.
Goldstein called defense applications a “big market” for Archer amid rising geopolitical tensions abroad. He added that the drone also does not require the same certification process required for commercial use cases.
“The applications we can bring to the defense world are quite impressive and essential for the warfighter,” he said.
