Advanced Air Mobility (eVTOL)

Archer Aviation's shares have surged over 36% in the past month, driven by its acquisition of Boeing's Wisk Aero, SkyGrid, and Insitu units, which will give Boeing a nearly 20% stake in the company. The deal combines autonomy, eVTOL, and uncrewed aircraft capabilities into an end-to-end physical AI platform for aerospace and defense, and adds profitable drone maker Insitu, which generates over $200 million in annual revenue. Additional catalysts include the successful test flight of its Midnight aircraft and Cathie Wood's ARK buying 940,434 shares worth about $4.97 million. However, the company's financials remain weak, with Q2 revenue of only $5 million and a net loss of $263.2 million, while cash burn of $215.3 million per quarter leaves less than two years of runway. Despite the momentum, the stock is down 19% year-to-date, and the deal is expected to close by the end of 2026.

Langjin Technology achieved operating revenue of 321 million yuan in the first half of 2026, supported by its dual-engine strategy of rail transit and new energy. Its international footprint continued to deepen, while new growth areas such as the low-altitude economy and energy storage thermal management accelerated. In the rail transit segment, the company won new contracts for the Grenoble tram project in France and additional orders in Rome, and now has 1,100 units operating across eight overseas cities. It also secured maintenance service orders in five key Chinese cities: Fuzhou, Suzhou, Xi'an, Nanning, and Beijing. In new energy thermal management, the company passed BYD's standard configuration supplier audit for buses and expanded its standard-fit share with manufacturers including CRRC Electric Vehicle, FAW Bus, and Geely Commercial Vehicles. In the low-altitude economy sector, it partnered with leading manufacturers to complete heat pump air conditioning system development for the Volant VE25-100 and COMAC CE25A electric aircraft, and obtained AS9100D aerospace system certification. Cumulative shipments in energy storage thermal management exceeded 80 gigawatt-hours, with innovative products such as an all-in-one integrated liquid cooling unit launched. In addition, the company developed a full range of intelligent variable-frequency heat pump drying products and is advancing intelligent operation and maintenance projects across multiple metro lines.

Zongheng Shares released its 2026 semi-annual report, achieving revenue of 177 million yuan in the first half, up 31.22% year-on-year, with net profit attributable to the parent company narrowing its loss by 11.0667 million yuan. The company is transforming from an equipment supplier to a leader in smart low-altitude scenarios, deepening its full-stack capabilities in hardware, software, and operations vertically, while expanding into emerging scenarios such as weather modification, forestry and grassland, and emergency response horizontally. During the reporting period, the company won a 65.18 million yuan low-altitude comprehensive governance project in Xinye County, Henan, and replicated the Bazhong model in multiple locations. Gross profit margin rose to 50.41%, and the loss after deducting non-recurring items narrowed by 22.27% year-on-year. The company's Yunlong-1P ton-class drone completed its maiden flight, and the Yunlong-1 medium-altitude long-endurance multi-purpose drone system received China's first-unit certification. As of the end of the reporting period, the company held 129 authorized invention patents and a total of 639 intellectual property rights.

Boeing announced plans to sell three of its aerospace and electric vertical takeoff and landing businesses to Archer Aviation. In exchange for the businesses and a $55 million equity investment, Boeing will receive newly issued shares and warrants in Archer, giving it nearly 20% ownership after the deal closes later this year. Boeing retains rights to use Wisk's autonomous flight technology for its commercial and defense aircraft. The divestiture removes a distraction as Boeing works to restore its commercial aircraft business, recently marked by FAA approval of the 737 MAX 7. Boeing trades at about 77 times trailing earnings, a premium to GE Aerospace's 40 times, and management targets $10 billion in annual free cash flow, below the $14 billion generated in 2018.

Drone delivery is moving from pilot projects toward a credible role in retail fulfilment, with Amazon planning to expand Prime Air to nearly 500 US cities and towns by the end of 2026 and Walmart having completed more than one million drone deliveries. Walmart is working with Wing on a network of more than 270 locations planned for 2027, while DoorDash received FAA Part 135 air-carrier certification in July and launched DoorDash Air, and Uber has agreed to introduce Zipline drone delivery through Uber Eats with a target of one million drone deliveries a day by the end of 2029. The future is likely a hybrid model in which drones handle small, lightweight, time-sensitive purchases in selected suburban and metropolitan areas, while vans and couriers continue to serve larger or consolidated orders. Regulation remains a key gateway, with the FAA proposing a Beyond Visual Line of Sight framework in 2025 and the UK Civil Aviation Authority aiming to enable routine BVLOS operations through 2027, but cost competitiveness will depend heavily on utilisation, delivery density, and increasing autonomy.

The Cabinet has acknowledged necessary and urgent support measures to begin the U-Tapao Airport and Eastern Aviation City development project, in line with a resolution of the Eastern Economic Corridor Policy Committee, with the goal of having the measures take effect by 30 September 2026. Key measures include allowing operators to deduct investment and operating expenses at twice the rate, issuing a special EECa Visa for foreigners, reducing corporate income tax for international air transport operators, and lowering registration fees for property leases and transfers. The Office of the Eastern Economic Corridor Policy Committee estimates that these measures will help stimulate about 1.3 trillion baht in private investment over the project's lifetime, create more than 63,701 jobs, add about 400,000 foreign tourists per year, and generate more than 37 billion baht in gross domestic product in the first year of operation.

L2 Aviation and Gotonomi announced a strategic partnership to advance integrated satellite connectivity solutions for uncrewed aerial vehicle and Advanced Air Mobility operators throughout North America. The collaboration combines L2 Aviation's avionics integration and certification expertise with Gotonomi's compact satellite communications technology, enabling reliable command and control, telemetry, and mission data connectivity in areas where cellular, Wi-Fi, and other terrestrial networks are limited or unavailable. The planned solutions will use Gotonomi's lightweight UAV communications technology and access to Viasat's Velaris ecosystem, a satellite service developed for UAV and AAM operations. L2 Aviation joined the Viasat Velaris ecosystem through Galaxy 1 Communications in May 2026, bringing nearly three decades of avionics integration and certification experience to the uncrewed aviation market. The partnership aims to provide a complete aircraft-level solution from system architecture and installation through regulatory approval and operational deployment, with particular opportunities in the energy and government sectors for Beyond Visual Line of Sight operations.

Amazon is rapidly expanding its Prime Air drone delivery program to seven states — Arizona, Florida, Kansas, Louisiana, Michigan, Nebraska, and Texas — with additional metro areas including Chicago, Syracuse, Cleveland, Atlanta, and Boise announced as coming soon. The expansion comes as the FAA is expected to finalize standardized beyond-visual-line-of-sight rules within weeks, a regulatory milestone that could allow operators to scale drone delivery far more broadly than is currently possible under individual waivers. Amazon's current MK30 drone operates at altitudes of roughly 200 to 300 feet and has a delivery range of approximately 7.5 miles from a fulfillment center, with orders under $50 carrying a $3 drone-delivery fee. FreightWaves Parcel & Air Cargo Editor Eric Kulisch said the pending rules could open the floodgates for expansion, while noting that Memphis, Tennessee remains delayed by negotiations with local authorities. Morgan Stanley projected in 2021 that the broader urban air mobility market would reach roughly $1 trillion by 2040 and $9 trillion by 2050 in its base case.

Archer Aviation and AEG are partnering to build downtown Los Angeles' first vertiport at L.A. LIVE, making Archer the exclusive air taxi partner for the district. The announcement follows Archer's second-quarter 2026 results, which showed US$5.0 million in sales and a net loss of US$263.2 million, with loss per share narrowing slightly to US$0.34 from US$0.36. The L.A. LIVE deal strengthens Archer's visibility around urban deployment and its LA28 ambitions, but does not change the near-term reality that widening net losses and ongoing certification work remain the key catalyst and main operational and funding risk. Archer's recent progress with the Midnight piloted roundtrip between Salinas and Monterey ties directly into regulatory and operational milestones that underpin future air taxi services in Los Angeles and other eIPP markets. The company's narrative projects US$716.0 million revenue and US$62.9 million earnings by 2029, requiring 622.3% yearly revenue growth and an earnings increase of about US$805 million from negative US$742.5 million today.

Amazon.com plans to expand its Prime Air drone delivery service from 11 to nearly 500 U.S. cities by the end of 2026. The rollout targets a mix of suburban and metro areas, with 30 minute delivery for eligible items to tens of millions of customers. The move broadens Amazon's logistics footprint and could reshape competition in rapid last mile delivery as FAA rules continue to develop.

Amazon, Uber, DoorDash, and Walmart are making major new commitments to drone delivery, signaling a shift from experiment to scale. Amazon said Wednesday its Prime Air service will expand to nearly 500 U.S. cities and towns by the end of 2026, a sixfold increase from its current footprint, with new markets including Chicago, Atlanta, Cleveland, and Syracuse, N.Y. DoorDash recently launched DoorDash Air after receiving FAA certification to operate its own commercial drone service, while Uber announced a strategic partnership with Zipline that aims for 1 million drone deliveries per day by the end of 2029. Walmart told Fortune it is approaching 2 million drone deliveries and plans to build more than 270 drone delivery locations in 2027 with Wing, Alphabet's drone company, reaching more than 40 million Americans.

Against the backdrop of crowded trading in A-share technology hot sectors and amplified short-term volatility, institutions recommend that investors shift their attention to three major sectors: the low-altitude economy, humanoid robots, and commercial aerospace, seizing pullback windows to position at lower levels. CICC believes that the intensive rollout of low-altitude economy policies is resonating with technological iteration across the industry chain, and expectations for an industry inflection point are gradually strengthening. Guoyuan Securities analyst Gong Siwen suggests focusing on whole-machine names such as Wanfeng Auto Wheel, EHang, JOUAV, and Lvneng Huichong, as well as core component names such as Zongshen Power, Wolong Electric Drive, Yingliu Shares, and Inpower. On the humanoid robot front, Unitree Robotics recently entered the capital market and is expected to provide a clearer valuation anchor for the sector, driving a shift in capital from pure thematic speculation to growth-based pricing. Huayuan Securities analyst Zhao Mengni suggests focusing on Everwin Precision, Foresight Technology, Sanhua Intelligent Controls, Tuopu Group, Leader Harmonious Drive, Shuanghuan Transmission, Hengli Hydraulic, Zhejiang Rongtai, Moons' Electric, and Zhaowei Machinery & Electronics. In commercial aerospace, the Long March 10B and Zhuque-3 have successively completed successful recoveries, and reusable rocket technology is maturing. With falling launch costs resonating with demand for low-orbit constellation networking, industrialization is expected to accelerate. Guotai Haitong Securities analyst Yang Tianhao suggests focusing on Chengchang Technology, Tongyu Communication, Sunway Communication, Shanghai Hanxun, Aerospace Electronics, Feiwo Technology, Sirui Advanced Materials, and Western Metal Materials.

Uber Technologies announced a partnership with drone delivery company Zipline to bring autonomous drone delivery to Uber Eats customers across the United States, alongside a strategic investment in the company. The companies are targeting 1 million drone deliveries per day by the end of 2029, with the first flights beginning later this year in Zipline's existing US markets before expanding to dozens of additional cities. Zipline already operates on four continents, has completed 2 million deliveries, and was valued at $7.6 billion after raising $800 million earlier this year. The deal is Uber's second major drone bet after last year's tie-up with Flytrex, and it lands as the ride-hailing giant tries to convince investors its business is stronger than its stock price suggests. Uber shares are down roughly 9% this year even as revenue, profit, and user growth have all moved in the right direction.

Joby Aviation is making notable progress toward Federal Aviation Administration certification of its electric vertical takeoff and landing aircraft, having completed 20% of its work in Stage 5, the final Show & Verify stage, as of July 31, while the FAA had completed about 10% of its work. The company was roughly two-thirds of the way through Stage 4 at this time last year, marking significant progress in 12 months. In August 2026, Joby announced it was acquiring Resonant Sciences, a fast-growing defense technology company with more than $100 million in trailing 12-month revenue, adding a growing defense business alongside its air taxi ambitions. Analysts at Morgan Stanley once estimated that urban air mobility could become a $9 trillion market opportunity by 2050, with human transportation accounting for roughly $3.8 trillion of that total. Joby trades at roughly 62 times sales, leaving its valuation little room for slip-ups or surprise delays.

Honeywell Aerospace has validated a satellite communications antenna designed to maintain command-and-control links with unmanned aircraft flying beyond an operator’s visual line of sight. The antenna was developed at the company’s research and development center in Brno, Czechia, through the European Space Agency’s Iris Global program, and Honeywell tested the technology with Viasat’s satellite network during flights at Budkovice Airport. The system switches between satellite and terrestrial networks to help operators maintain contact with an aircraft, and during the tests operators changed flight paths after detecting potential conflicts, including another drone crossing a planned route. The demonstrations also tested operations within Europe’s U-space framework for managing unmanned aircraft alongside crewed aviation, with Frequentis supplying traffic-management software and a Honeywell ground station using telemetry from a drone and a crewed aircraft to identify conflicts and recommend route changes. Honeywell said it is preparing the antenna for commercial production and evaluating Czech suppliers for its manufacturing network, with the project co-funded by the European Space Agency and supported by two Czech government ministries.

Archer Aviation completed a piloted roundtrip intercity flight of its all-electric Midnight aircraft in coordination with the FAA. The company also announced a technical breakthrough with its ZEE aviation foundation AI model, built to predict real-time aircraft trajectories. Management framed both milestones as progress toward commercial air taxi operations and broader use of AI in aviation safety and air traffic management. The latest quarter shows US$5 million in sales against a net loss of US$263.2 million, so execution risk and cash use remain central to the story.

Innovative Aerosystems reported third-quarter fiscal 2026 net income of $4.5 million, or $0.25 per diluted share, up from $2.4 million, or $0.14 per share, a year earlier. Net sales rose 10.7% to $26.7 million, driven by organic growth in commercial and business aviation markets, while gross margin expanded to 51.7% from 35.6%. Adjusted EBITDA increased approximately 75% to $7.7 million, and the company guided fourth-quarter revenue to between $28 million and $30 million. The company also announced a $50 million eVTOL contract with a leading Japanese developer, the acquisition of Aydin Displays, and a planned ticker change from ISSC to IA on August 18, 2026.

BETA Technologies reported second quarter 2026 revenue of $14.7 million, up 146% year-over-year, driven by the Electrified Powertrain Flight Demonstration program and charger deliveries to the Florida Department of Transportation. Adjusted EBITDA was negative $109.8 million, reflecting $122.4 million in research and development and $43.8 million in general and administrative expenses. Net loss was $148.8 million, including $16.1 million in acquisition-related expenses and $5.7 million in non-cash warrant expenses. Product backlog reached 1,001 aircraft valued at $3.9 billion, nearly hitting the company's year-end target of $4 billion. Full year revenue guidance was raised to $42 million to $50 million, while full year adjusted EBITDA guidance was set at negative $400 million to negative $445 million. Cash and cash equivalents stood at $1.5 billion, and capital expenditures for the quarter were $41.1 million with full year guidance maintained at $150 million to $200 million. The company also announced up to $1 billion in planned EXIM financing to fund capital assets, vertical integration, and production capabilities.

BETA Technologies reported second-quarter 2026 revenue of $14.7 million, up 146% year-over-year and above guidance, driven by EPFD program and charger deliveries. The company's backlog reached 1,001 aircraft valued at $3.9 billion, nearly hitting its $4 billion year-end target by mid-year. Adjusted EBITDA remained deeply negative at negative $110 million, with full-year guidance widened to negative $400 million to negative $445 million, while operating expenses were $166 million. BETA achieved certification milestones including resolving FAA policy issues for the H500A motor and completing the CX-300 requirements definition phase, and launched EIPP operations with United Therapeutics as the first company to do so. The company also expanded its charging network to 138 sites and unveiled the MV-250 military aircraft, targeting a rapid prototyping contract with the Army within the next year.

DoorDash reported second-quarter 2026 sales of US$4,454 million and net income of US$200 million, while completing a US$1,049.03 million share repurchase program representing 1.55% of its shares. The company also launched its in-house drone delivery program, DoorDash Air, after securing FAA Part 135 air carrier certification, adding a new technology-driven fulfillment option to support local businesses. Investors are weighing how the drone milestone and higher operating investments interact with the buyback, given earnings pressure in the first half of 2026. DoorDash's narrative projects $26.2 billion revenue and $3.3 billion earnings by 2029, requiring 21.2% yearly revenue growth and about a $2.4 billion earnings increase from $926.0 million today.

Archer Aviation has agreed to acquire three Boeing businesses—Wisk Aero, Insitu, and SkyGrid—in exchange for newly issued Archer stock. When the deal closes, Boeing will receive a stake equal to 19.75% of Archer's Class A shares immediately beforehand. Insitu, a military drone maker with more than $200 million in annual revenue, is one of the three businesses being acquired. Archer stock surged as much as 25% on the news before settling to a roughly 13% gain.

Archer Aviation shares rose more than 9% after the company reported second-quarter earnings that beat Wall Street expectations and announced a deal to acquire three businesses from Boeing. Revenue came in at $5.0 million, more than 150% above analyst targets, while the adjusted loss per share of $0.23 was narrower than the expected $0.25 loss. In a separate transaction, Archer will buy Insitu, Wisk, and SkyGrid from Boeing in exchange for a roughly 20% equity stake and additional warrants. Archer stated that Insitu generates $200 million in annual revenue and is profitable, though full audited financials have not yet been released.

Joby Aviation expects to begin eVTOL Integration Pilot Program flights in Texas in September 2026, marking a key operational test as the company works toward carrying its first passengers this year. The flights will cover routes across the Dallas-Fort Worth area over a week, progressing from pilot-only operations to nonpaying and eventually paying passengers under the eIPP framework. Joby has completed or substantially completed three of five FAA type-certification stages and was about 75% through the fourth stage at the end of the second quarter, with continued progress in the fifth and final stage. Manufacturing is scaling up, with five aircraft flying as of the second quarter, including its first FAA-conforming aircraft, and 12 more in production, while the nonconformance rate in manufacturing fell nearly 40% in the first half of 2026. Toyota and Joby formed a manufacturing joint venture in June 2026, with Toyota holding 51% and Joby 49%, and Uber plans to offer Uber Air powered by Joby through its app when service launches.

Intel fell 3% premarket after announcing a $15 billion common stock offering to fund general corporate purposes including capital expenditures and working capital. GameStop rose more than 1.5% on a Bloomberg report that it is weighing abandoning its $56 billion bid for eBay, which eBay rejected in May as not credible. Hewlett Packard Enterprise gained over 5% after Morgan Stanley upgraded the stock to overweight, citing an attractive risk/reward profile. Verisk Analytics tumbled more than 6.5% after a Delaware judge ruled it must proceed with its $2.35 billion acquisition of AccuLynx, a deal it had terminated in December. Apple declined 1% following a Jefferies downgrade to underperform, with analysts citing canceled plans for an all-glass iPhone. Rocket Lab rose nearly 3% ahead of its second-quarter earnings report after the bell. Berkshire Hathaway added 0.5% after reporting a 16% increase in second-quarter operating earnings, driven by manufacturing, service, retailing, and energy profits, though insurance investment income fell 9%. Archer Aviation surged after announcing the acquisition of three Boeing subsidiaries, with Boeing taking an undisclosed stake.

EHang Holdings Limited announced that its flagship EH216-S successfully completed Central Asia's first pilotless human-carrying flight of an electric vertical takeoff and landing aircraft in Astana, Kazakhstan, during the Games of the Future event. The EH216-S conducted multiple route flights over the event venue, carrying Kazakhstan's Minister of Transport Nurlan Sauranbayev and other distinguished guests. With this flight, EHang's EH216-S has now expanded its flight footprint to 23 countries across five continents, marking Kazakhstan as the latest addition and demonstrating its adaptability to diverse climates, geographic environments, and airspace conditions.

Archer Aviation shares rose 10.3% after the company announced that its ZEE aviation AI model can predict aircraft movements on airport surfaces minutes ahead and that its piloted Midnight eVTOL completed a roundtrip flight between Salinas and Monterey in about nine minutes each way. The milestones suggest Archer is positioning itself not only as an electric air-taxi manufacturer but also as a potential provider of advanced aviation safety and traffic-management software. The Midnight roundtrip ties directly into Archer's White House eVTOL Integration Pilot Program work and preparations for the LA28 Olympics, both central to proving that air taxi services can operate on real city pairs at meaningful frequencies. While the ZEE news does not materially change near-term drivers yet, it could support more optimistic analyst projections that Archer could reach about US$868.1 million in revenue and US$73.8 million in earnings by 2029.

Surf Air Mobility Chairman Shawn Pelsinger announced the company has secured its first multi-million-dollar contract to deploy its SurfOS software alongside Palantir, marking a key milestone in its transformation plan. The contract with Wheels Up is worth up to $12 million over the contract term and represents the first enterprise customer for the AI-enabled operating system. Pelsinger stated the company has significantly reduced debt, improved profitability in its air mobility business, and now has a stable foundation to pursue growth across three interconnected areas: SurfOS software, a tech-enabled charter platform, and air mobility operations. The company aims to roll out additional SurfOS products, establish a path to profitability in each business, significantly grow charter platform revenue, and fly the first paying passenger on an electric aircraft once certified.