Archer Aviation

Archer Aviation

Archer Aviation is a Santa Clara-based company developing the Midnight, a five-seat electric vertical takeoff and landing aircraft for short urban routes. It went public via SPAC in 2021 and trades on the NYSE as ACHR. Through 2026 it has been one of two US companies, with Joby, in the closing stages of FAA type certification for a passenger eVTOL.

Key Products

Midnight — a five-seat aircraft, four passengers plus a pilot, with twelve fixed-pitch propellers. Designed for back-to-back short flights with minimal charging between legs, targeting roughly 20-mile routes at up to 150 mph.

Maker — the earlier two-seat demonstrator used for flight testing and certification learning. No longer in active development.

Archer is also developing a hybrid aircraft and ZEE, an AI foundation model for aviation.

The Boeing Transaction

In August 2026 Archer agreed to acquire three Boeing subsidiaries: Wisk Aero, Insitu and SkyGrid. Boeing takes an equity stake in Archer and becomes a strategic partner, retaining access to Wisk’s autonomous flight technology through cross-licensing.

This changes what Archer is. Wisk brings six generations of eVTOL design and more than 1,700 flight tests toward an autonomous passenger aircraft — the capability most operators regard as the eventual economic requirement for urban air mobility. Insitu brings an established defense manufacturer with more than $200 million in annual revenue, over 3,500 uncrewed aircraft built, and operations in 35 countries. SkyGrid adds airspace management software.

The US antitrust waiting period expired on 18 September 2026, and Archer expects the deal to close by the end of 2026, subject to other approvals.

Certification and Financial Position

Archer became the first eVTOL company to close Phase 3 of the FAA’s four-phase type certification process, in April 2026, and has moved into Phase 4, where Midnight must demonstrate compliance with airworthiness requirements through formal testing and analysis.

The company remains pre-revenue on the commercial aircraft side. Second-quarter 2026 operating expenses rose $28 million on the first quarter as flight testing, certification and production activity expanded alongside the hybrid and ZEE programmes. Losses have deepened accordingly. United Airlines is an investor and holds a conditional pre-order for up to 200 aircraft; Stellantis is the manufacturing partner behind the Georgia production facility.

Why It Matters

Until August 2026 Archer was a single-product company whose entire value depended on certifying one aircraft. The Boeing deal makes it a group with defense manufacturing revenue, an autonomy programme, and airspace software — while still needing to certify Midnight.

FlightBrief analysis: Insitu’s revenue reduces Archer’s dependence on capital markets to fund certification, which has been the sector’s structural weakness. The offsetting risk is that integrating three businesses during the most demanding phase of a certification campaign is a genuine distraction, and the FAA does not grade on corporate structure. Watch whether Phase 4 milestones slip while the acquisition closes.