Archer Aviation Secures Initial $1 Million Payment Through Air Force Contract

The installment is expected to be the first of many for Archer, which signed contracts with AFWERX Agility Prime worth up to $142 million in July.

Jack Daleo

Wednesday, October 04, 2023 at 05:11 PM ET

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Archer’s Midnight eVTOL air taxi will be shipped to an Air Force base for testing and demonstrations in the coming months. [Courtesy: Archer Aviation]

Key Takeaways:

Archer Aviation has received the initial payment from the U.S. Air Force, officially commencing a contract valued at up to $142 million for its Midnight eVTOL aircraft and a mobile flight simulator.
The partnership with AFWERX's Agility Prime program aims to train Air Force pilots, assess Midnight's capabilities for military uses like rapid response and personnel transport, and eventually lead to flight testing of up to six aircraft.
Archer plans to launch commercial air taxi services with United Airlines in 2025, operating short-haul flights, while simultaneously advancing its military collaboration and establishing a large manufacturing plant with Stellantis.

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The U.S. Air Force has gotten the ball rolling on its recently announced contracts with electric vertical takeoff and landing (eVTOL) aircraft manufacturer Archer Aviation.

Archer on Wednesday received the Air Force’s initial installment of nearly $1 million, the first of what is expected to be many payments under the agreement valued at up to $142 million. In return, Archer sent the Air Force a mobile flight simulator, specified as a deliverable under the contracts.