Anduril Industries and Archer Aviation have announced a partnership to develop a next-generation hybrid-propulsion, vertical-takeoff-and-landing (VTOL) aircraft specifically for defense applications.
This collaboration aims to provide innovative solutions to the United States Department of Defense (DOD) and is focused on creating a potential program of record.
The partnership combines Archer’s expertise in developing advanced VTOL aircraft utilizing commercial parts and supply chains with Anduril’s knowledge in artificial intelligence, missionization, and systems integration. This integrated approach is expected to expedite the delivery of essential hybrid VTOL capabilities at significantly lower costs than traditional options.
Archer has successfully raised $430 million in additional equity capital to support this defense initiative. This funding round saw participation from strategic partners such as Stellantis and United Airlines and new institutional investors like Wellington Management and Abu Dhabi investment holding company 2PointZero, a subsidiary of the UAE’s largest listed entity, IHC.
Following this funding, Archer has raised nearly $2 billion in total capital to date, with $502 million in cash and cash equivalents as of Q3 2024.
Archer has established a new program, called Archer Defense, to lead the VTOL aircraft project. Joseph Pantalone, Archer’s Head of Advanced Projects and a veteran of military aviation with nearly 30 years of experience at Lockheed Martin and Sikorsky, will spearhead this initiative.
On July 15, 2024, Archer delivered one of its Midnight electric vehicle takeoff and landing (eVTOL) aircraft for evaluation by the United States Air Force.
