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EHang delivered 63 EH216-S autonomous multicopters in the third quarter of 2024.
China’s EHang finished this year in the top slot of the AAM Reality Index, reflecting its strong commercial prospects as the only company in the world with a certified passenger-carrying electric vertical-takeoff-and-landing (eVTOL) aircraft.
Published bimonthly by SMG Consulting, the AAM Reality Index evaluates companies’ likelihood of success in bringing an advanced air mobility (AAM) aircraft to market, according to a range of factors including funding, team expertise, technology readiness, certification progress and production readiness.
The top 10 companies in the December 2024 edition of the AAM Reality Index are EHang (8.5/10), Beta Technologies (8), Joby (7.9), Archer (7.9), Volocopter (7.9), Eve Air Mobility (7.6), Airbus (7.6), Autoflight (7.6), Aerofugia (7.4) and Wisk (7.4).
By comparison, the top 10 OEMs in the December 2023 edition were Volocopter (8.3), Beta (8), EHang (8), Joby (8), Archer (7.9), Wisk (7.4), Eve (7.2), Vertical Aerospace (7.1), Lilium (7) and Pipistrel (7).
EHang’s first-place ranking reflects its strong position in the Chinese market, where it had delivered 138 of its EH216-S autonomous multicopters as of late November, with 64 units delivered in the third quarter. At the same time, the company continues to progress with development of its VT-35 lift-plus-cruise intercity aircraft.
Rounding out the top five are other startups with strong near-term commercial and certification progress. Volocopter continues to progress with development and testing of its two-seat Volocity multicopter, although the company currently lacks the funds for certification and entry-into-service, SMG founder Sergio Cecutta says.
U.S. startups Archer and Joby are both gearing up for operations late next year in the UAE, with a shared–albeit rather aggressive–goal to certify their tilt-prop air taxis before the end of next year. Beta, meanwhile, appears on track to certify its Alia conventional-takeoff-and-landing (CTOL) aircraft late next year, with the VTOL variant expected in 2026.
Two companies—Alaka’i and Overai—were pulled from the latest edition of the AAM Reality Index due to an apparent slowdown in progress, while new Chinese startup Zero Gravity was added with a score of 6.8. But Lilium will retain its spot in the index next year despite its insolvency filing in November. This reflects Cecutta’s view that the company can continue to make technological progress while awaiting a possible buyer as part of the German self-administration process.
The latest edition of the AAM Reality Index also accounts for updated cumulative funding totals. Taking the top 10 companies, Joby has raised the most money to date with about $3 billion, followed by Archer ($1.8 billion), Lilium ($1.5 billion), Beta ($1.3 billion), Eve ($640 million), Vertical Aerospace ($410 million), EHang ($260 million) and Autoflight ($260 million).
Some companies saw their scores increase in the December index. Eve ticked up to 7.4 from 7.2 in October, taking into account a $34.5 million loan from the Brazilian National Development Bank received in early December. Airbus’s score increased from 7.4 to 7.6, reflecting the first flight of its CityAirbus NextGen air taxi in November.
Several companies also had their entry-into-service (EIS) targets pushed back in the latest index. Eve’s EIS target was revised to 2027 from 2026; Vertical to 2028 from 2027; and Ascendance Flight Technologies to 2029 from 2027.
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