Stuck in the morning or late-afternoon commute, more than a few drivers have fantasized about making use of the vertical axis of motion. However, the use of helicopters is both financially and environmentally onerous, which is why Joby Aviation (JOBY) and the underlying electric vertical takeoff and landing (eVTOL) industry is so compelling. Over time, Joby could help democratize urban flights while minimizing the broader social impact.
Fundamentally, air taxis command significant potential. According to Allied Market Research, the sector globally could reach a valuation of $6.63 billion by 2030, representing a compound annual growth rate (CAGR) of 26.2% from 2021, when the sector hit a market size of $817.50 million. Even more compelling for JOBY stock, this projection could be a low-end estimate.
