A partnership between California-based Joby Aviation Inc. and L3 Harris Technologies of Florida could create a new generation of defense aircraft that offers optional piloting—with full crews or autonomous operations.
The new technology involves a gas turbine hybrid vertical take-off and landing (VTOL) aircraft that is designed for a wide range of low-altitude missions.
“The next-generation of vertical lift technology enables long-range, crewed-uncrewed teaming for a range of missions,” Jon Rambeau, president of Integrated Mission Systems at L3Harris, said in a statement.
“We share a vision with Joby to deliver urgently required innovation by missionizing VTOL aircraft for defense needs.”
The collaboration will combine Joby’s existing commercial aircraft development program and manufacturing with L3 Harris’s expertise in mission-related platforms, including sensors, effectors, and communication.
“We have worked closely with the Department of Defense over the past decade to give them a front row seat to the development of our dual-purpose technologies, and we’re now ready to demonstrate and deploy it,” JoeBen Bevirt, founder and CEO of Joby Aviation, said in a statement.
“Our country depends on companies like ours moving at pace, and we have the team, the technology, and the platform to do just that.”
Developing an all-electric VTOL air taxi, Joby stated that it intends to operate its fast and quiet air taxi services globally, as well as sell its aircraft to other operators and partners.
Shares of both companies rose on the partnership news. As of 12:35 p.m. ET on Aug. 1, Joby was up by 7.38 percent, while L3Harris had gained 0.47 percent. Year to date, the two stocks have risen 120 percent and 31.3 percent, respectively.