Joby Aviation, Inc. JOBY has integrated its electric air taxi into Microsoft Flight Simulator 2024, allowing aviation enthusiasts worldwide to experience the future of urban air mobility.
What Happened: The company’s aircraft, capable of speeds up to 200 mph with zero operating emissions, is now available in the latest edition of the popular simulation game.
JoeBen Bevirt, Joby’s Founder and CEO, emphasized the significance of making their aircraft accessible to a broader audience: “We’re incredibly excited to share our revolutionary aircraft with aviation enthusiasts of all ages and backgrounds, giving everyone an opportunity to experience the intuitive and effortless controls we have designed.”
The aircraft’s implementation in the simulator is the result of extensive collaboration with Microsoft to accurately replicate its dimensions, flight physics, and unique “unified flight controls” system, similar to those used in the F-35B Joint Strike Fighter.
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Why It Matters: This development comes as Needham analyst Chris Pierce initiated coverage on Joby with a Buy rating and an $8 price target.
Pierce highlights the company’s strong market position, bolstered by its 2020 acquisition of Uber Elevate and the development of its ElevateOS platform. The analyst projects a $3 billion early-stage global air taxi revenue opportunity, with operations expected to begin in the UAE by 2025 and U.S. regulatory approval anticipated for 2026.
Joby’s strategy includes partnering with CAE to develop advanced flight simulation training devices for pilot certification. The company’s vertically integrated approach to manufacturing is expected to reduce aircraft costs and strengthen its competitive position in the emerging air taxi market.
The aircraft, designed to transport four passengers and a pilot, represents an advancement in urban air mobility, offering reduced noise compared to traditional helicopters while maintaining high-speed transportation capabilities.
Investors can gain exposure to Joby through ETFs including WisdomTree Trust WisdomTree Battery Value Chain and Innovation Fund WBAT and ARK Space Exploration & Innovation ETF ARKX.
Price Action: Joby Aviation stock closed at $8.00 on Wednesday, up 1.27% for the day. In after-hours trading, the stock rose an additional 0.50%. Year to date, Joby Aviation’s stock has surged 29.45%, according to data from Benzinga Pro.
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Image via Joby Aviation
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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