The low-altitude economy is on the verge of rocketing higher over the next few decades. Bank of America sees the global adoption of electric vehicle take-off and landing (eVTOL) aircraft to increase by 62% by 2030.
While Joby Aviation is one way to profit from this opportunity, it’s worth noting that Cathie Wood of Ark Invest has placed her bet on Archer Aviation (NYSE: ACHR) for the Ark Innovation ETF, which holds almost 18 million shares. There’s one reason that may explain why Wood is bullish, and it’s also why I hold shares — and that’s a steady flow of positive developments in the past year that position Archer to be a leader in the air taxi market.
The Midnight model eVTOL aircraft. Image source: Archer Aviation.