Mission Critical! Why Archer Aviation Stock Is Set to Go Vertical in 2024.

Stocks to buy

Think about how fast and far the flying car industry could expand next year and in the following years. Will the skies be crowded with flying vehicles in the United States and internationally? If so, Archer Aviation (NYSE:ACHR) will be an early mover in the market, and ACHR stock could zoom higher.

Just to recap, Archer Aviation designs and builds electric vertical takeoff and landing (eVTOL) vehicles, which are also commonly known as flying taxis. I’m certainly not recommending mortgaging your house to buy Archer Aviation stock, as this is a still-emerging field. However, if you can tolerate some risk and have a multi-year time frame, now’s a good time to start a small investment in Archer Aviation.

Why Should You Choose ACHR Stock?

Archer Aviation isn’t the only eVTOL vehicle manufacturer. So, why should investors choose Archer Aviation stock in particular?

There are plenty of reasons. First of all, Archer Aviation has secured over $1.1 billion worth of funding as well as an eVTOL manufacturing deal with the U.S. Air Force. That Air Force contract is reportedly worth up to $142 million.

Furthermore, Archer Aviation is an eVTOL industry innovator. In fact, the MUSE Design Awards recognized Archer Aviation’s Midnight aircraft design as the “Transportation Design of the Year” for 2023.

Speaking of the Midnight aircraft, Archer Aviation successfully completed a test flight of this eVTOL model. Moreover, Archer Aviation and Air Chateau International DWC LLC, which is based in the United Arab Emirates (UAE), signed a memorandum of understanding (MOU). This MOU covers a “planned purchase by Air Chateau of up to 100 of Archer’s Midnight eVTOL aircraft with an approximate value of” $500 million.

Archer Aviation Goes Multinational

While Archer Aviation’s arrangement with the U.S. Air Force is noteworthy, the company’s operations aren’t limited to the U.S. As I already mentioned, Archer Aviation is in the process of securing a $500 million purchase order in the UAE.

Indeed, Archer Aviation could achieve early-mover status in the UAE. The company expressed its “plans to commence air taxi operations in both Abu Dhabi and Dubai in 2026.” That’s not too far off now that 2024 is already upon us.

Additionally, Archer Aviation entered into an MOU with InterGlobe to launch electric air taxi services throughout India in 2026. Archer Aviation Chief Commercial Officer (COO) Nikhil Goel anticipates that the company will bring its “Midnight aircraft to Indian cities and fundamentally transform mobility across the country, with the goal of starting with Delhi, Mumbai, and Bengaluru.”

Stay Small, But Aim for the Skies With Archer Aviation Stock

Archer Aviation is an innovative and driven company in the exciting field of eVTOL aircraft. At the same time, this field is in its infancy, so don’t over-leverage yourself with Archer Aviation stock.

That said, I still expect Archer Aviation to continue showing remarkable progress from 2024 to 2026. The time to get in is now, not when the skies are filled with flying taxis. Consequently, I encourage risk-tolerant investors to grab a few shares of ACHR stock and prepare for a thrilling new year.

On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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