Archer Aviation and Anduril Industries announced that they're partnering on the development of a next-generation VTOL aircraft that could be used by the U.S. military.

Funding to defense tech companies has boomed in 2024 as geopolitical tensions rise, advancements in AI abound, and investors seek out a new growth area

Today, Anduril and Archer (NYSE: ACHR) announced an exclusive partnership to jointly develop a hybrid VTOL aircraft for critical defense applications targeting a potential program of record from the DOD.

Defense contractor Anduril Industries and Archer Aviation are together developing a hybrid-power vertical takeoff and landing aircraft they hope can win the Pentagon's favor. Why it matters: Climate change concerns,

By Anshuman Tripathy (Reuters) -Air-taxi maker Archer Aviation said on Thursday it has raised $430 million in fresh capital, part of which will be used to develop a hybrid aircraft with defense tech company Anduril Industries.

Electric aircraft maker Archer Aviation Inc. has brought in $430 million from investors, the company said Thursday, and announced a new partnership with weapons maker Anduril Industries Inc. to build a hybrid military aircraft.

Archer Aviation—the manufacturer of a five-seat electric air taxi that takes off vertically like a helicopter but cruises on fixed wings like an airplane—is partnering up with autonomous systems developer Anduril to design a hybrid-powered, vertical takeoff and landing (VTOL) aircraft intended for the U.S. Department of Defense.

Electric aviation startup Archer Aviation signed an exclusive deal with Palmer Luckey’s defense contractor, Anduril Industries, to jointly develop next-generation aircraft for the military. Archer also announced a new funding round of $450 million to help propel its defense ambitions.