The electric vertical take-off and landing (eVTOL) sector could be worth trillions of dollars, and, perhaps more importantly, could save consumers time, according to Adam Goldstein, CEO of Archer Aviation (NYSE:ACHR).
What Happened: The eVTOL sector is expected to grow as it gains support from the Trump administration and as the sector demonstrates use cases such as defense and improving traffic congestion.
Goldstein told Benzinga that the company hopes to help people recover their most valuable asset: time. "People's most valuable asset is their time and they're willing to pay for it."
If you're able to fly above traffic in a straight line, he said, you can go faster and get people to their destinations quicker than other forms of transportation.
"People are willing to travel and sit in some type of vehicle today for a certain period of time."
He said early adopters of the sector will overwhelm the supply companies that can produce based on what early surveys indicate, adding that 30% to 50% of consumers are willing to try eVTOLs – a staggering range that can't be served anytime soon.
Goldstein said Archer’s goal will be to determine how many vehicles can be built in the shortest time possible. "Number one priority is how do I get my time back instead of sitting in traffic."
Summer Olympics Partnership: Archer expects to launch commercialization in the United Arab Emirates and other regions before going live in the United States.
The company could make an early splash in the U.S. eVTOL sector thanks to an exclusive partnership signed with Team USA for the 2028 Summer Olympics in Los Angeles.
"The partnership with the Olympics is, I think, probably one of, if not the most important partnership I think ever announced in the history of eVTOL," Goldstein told Benzinga.
He said 2028 is essential because it’s the date the FAA has set for eVTOL mass usage, which aligns with the term "innovate 2028."
Archer plans to have networks in place at major sites for the Summer Olympics, including SoFi Stadium, USC, Woodland Hills, and the large airports.
The Archer CEO said other competitors heavily contested the exclusive partnership in the space and could help show Archer's lead.
"I think we'll be a big story of the Olympics," Goldstein said, adding that Archer will move athletes, VIPs and fans around the city of Los Angeles and surrounding areas during the Games.
Goldstein said this could showcase American innovation, American-made products, and America's lead in aviation at the 2028 Summer Olympics.
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