White House eVTOL Pilot Program Entry Boosts Joby: More Upside Ahead?

Joby Aviation JOBY, a leading player in the electric vertical takeoff and landing (eVTOL) space, recently announced plans to participate in the White House eVTOL Integration Pilot Program (eIPP).

President Trump’s recent Executive Order has directed the Department of Transportation and Federal Aviation Administration (“FAA”) to ensure that mature eVTOL aircraft can commence operations in select markets before full FAA certification, a key milestone necessary prior to launching commercial air taxi services in the United States. The program is designed to fast-track the development and deployment of electric air taxis and other advanced air mobility vehicles.

Joby’s participation in the program does not come as a surprise, given its operational readiness. The company boasts of more than 40,000 miles of flight testing across its fleet, with nearly 600 flights so far in 2025 alone. Moreover, Joby recently completed the first flight between two public airports during which it integrated with commercial air traffic. In addition, the company’s flight tests across five countries have demonstrated the resilience associated with the aircraft in multiple conditions. Joby currently anticipates flying its first of five FAA-conforming aircraft in 2025 and beginning flight testing with FAA pilots onboard early next year.

As part of its push toward commercialization, Joby recently announced plans to expand operations. To this end, the transportation company announced the expansion of its site in Marina, CA, which will double the aircraft production capacity at that location. The expanded site will span 435,500 square feet, helping the company to scale up its commercial operations. Once operational, Joby expects the Marina site to be able to produce up to 24 aircraft per year as it races to launch air taxis.

Archer Aviation ACHR, another prominent eVTOL aircraft developer, has confirmed its participation in the eIPP. Like JOBY, Archer Aviation is spending significantly as it progresses toward FAA certification. Strong government and commercial collaborations strengthen Archer Aviation’s position in the expanding eVTOL market.

Another eVTOL Stock Warranting a Look

Vertical Aerospace EVTL is yet another eVTOL manufacturer aimed at capturing the defense section of the autonomous aerospace market. In May 2025, Vertical Aerospace announced that it is developing a hybrid-eVTOL variant of the VX4 aircraft, which would cater to sectors like defense and logistics, in addition to commercial. The low noise and heat signatures make this hybrid variant, being developed by Vertical Aerospace, well-suited for sensitive missions.

JOBY’s Price Performance, Valuation & Estimates

Shares of JOBY have surged in triple digits in a year, easily outperforming its Zacks Transportation - Airline industry..

1-Year Price Comparison

From a valuation perspective, Joby is trading at a premium compared with the industry average. In terms of price-to-book value, JOBY is trading at 13.37X, higher than the industry’s average of 3.65X.

The Zacks Consensus Estimate for JOBY’s 2025 and 2026 losses has remained stable over the past 30 days.

JOBY’s Zacks Rank

JOBY currently carries a Zacks Rank #4 (Sell).

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This article originally published on Zacks Investment Research (zacks.com).

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