Archer to Sell U.S. Air Force Up to $142 Million in eVTOL Aircraft

July 31, 2023

(24/7 MARKET NEWS) – Archer Aviation Inc. (NYSE:ACHR) stated, this morning, that it signed new contracts with the U.S. Air Force with a total value of up to $142 million. Archer has been working with the Department of Defense (DoD) since 2021 on a series of projects through the Air Force’s AFWERX program and this new execution phase of the partnership includes the delivery of up to 6 of Archer’s Midnight aircraft, which the Air Force is targeting for use in personnel transport and logistics support, rescue operations and more.

Archer Aviation is trading at $5.2515, up $0.4715 (+9.86%), on 1.11M premarket shares traded.

Its 52-week range is $1.62 to $5.58. We’ve been focused on the VTOL space since very early May, when Archer was at $2 and its bull run continues, so, if the trading volume strengthens, it may try to make a run at the December 2021 trading levels.

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