Volatile stock or not, Joby Aviation Inc (NYSE:JOBY) wants investors to think big—$10 billion big. With FAA certification on the horizon and early launches in the U.S. and Dubai, the company, in an exclusive email interview with Benzinga, stated that its air taxis will be "as ubiquitous as hailing a ride" within a few years, giving Wall Street a clear metric to watch.
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Milestones That Matter
Joby acknowledges investors are jittery over lofty multiples, but it's laying out milestones that could support the valuation.
- Certification is first: the company is in the fourth of five FAA stages and expects FAA pilots onboard next year.
- Second, commercial launches: New York and Dubai will showcase real-world demand.
- Third, scaling globally: Joby has already tested in five countries and struck a Saudi distribution agreement worth up to $1 billion for 200 aircraft—underscoring international demand that could accelerate adoption.
That vision now aligns with broader tailwinds, as the U.S. Department of Defense has requested $9.4 billion in its FY26 budget for autonomous and hybrid aircraft—an external benchmark that underscores the plausibility of Joby's $10 billion market opportunity.
Read Also: Joby Vs. Archer: Two Air Taxi Rivals Race Toward 2026 — But Who Really Has Lift-Off?
From Skepticism To Scale
The near-term roadmap looks crowded but deliberate. Joby says it is "focused on executing our long-term vision to make urban air mobility as ubiquitous as hailing a ride today."
Partnerships with Blade Air Mobility, Delta Air Lines Inc (NYSE:DAL), and Uber Technologies Inc (NYSE:UBER) give Joby instant passenger demand once aircraft are certified, while Toyota Motor Corp (NYSE:TM) helps drive mass manufacturing. For investors, the question is execution—can Joby hit these milestones fast enough to justify the ~$10 billion narrative and calm volatility?
Joby's story is equal parts promise and pressure. The numbers—FAA progress, global tests, billion-dollar deals—give it credibility. Now, the $10 billion vision depends on proving the dream can actually scale and meet sky-high investor expectations.
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