Air taxi developer expands into defence sector as growing military spending drives new opportunities for advanced aviation and autonomous technologie
California: Joby Aviation said on Tuesday it has agreed to acquire defence technology company Resonant Sciences for approximately $500 million, as the electric air taxi maker seeks to expand its presence in the rapidly growing defence market.
The transaction comes as electric vertical take-off and landing (eVTOL) manufacturers increasingly target military and defence applications amid rising global defence spending.
Shares of California-based Joby fell 6.5% in premarket trading following the announcement.
Under the terms of the deal, Joby plans to fund the acquisition with approximately:
- $50 million in Joby common stock
- Expanding defence capabilities
Resonant Sciences, based in Ohio, designs, manufactures and supplies advanced radio-frequency and mission systems for US national security customers.
Joby said the acquisition will significantly enhance its defence operations and broaden its technology portfolio beyond commercial air taxi services.
Upon completion of the transaction, Resonant will become Joby’s dedicated defence business, incorporating:
- Hybrid aircraft technologies
- Defence-focused mission systems
Meanwhile, Joby’s commercial division will remain focused on developing and expanding its electric air taxi operations.
Larger manufacturing footprint
The combined company is expected to have around 1 million square feet of manufacturing, integration and testing facilities across the Dayton, Ohio region, strengthening Joby’s production and development capabilities.
The deal is expected to close during the first half of 2027, subject to customary approvals and closing conditions.
The acquisition reflects a broader trend among eVTOL developers seeking to diversify revenue streams by pursuing defence and government contracts alongside commercial passenger services.
Source: Emirates 24|7