Flying car stocks could be the next big moneymaker. We already know the flying car market could be worth about $215.5 billion by 2025, according to Allied Market Research. By 2035, it could be worth well over $3.8 billion. By 2040, we could be looking at a massive $1.5 trillion market, even $2.9 trillion, according to Morgan Stanley.
Now we’re learning Elon Musk is teasing the possibility of commercial flying cars from Tesla (NASDAQ:TSLA). “Look, I don’t want to give away much more than what I’ve said publicly, except that the Roadster will be a collaboration between SpaceX and Tesla — so you can expect some rocket-y stuff there,” Musk said, as quoted by Newsweek.
Even companies like Stellantis (NYSE:STLA) are getting behind the flying car story, recently buying 12.3 million shares of Archer Aviation. Even Tesla-backed Alef Aeronautics just said its pre-order numbers for its flying car hit 2,850 at $300,000 a pop.
With a Jetson-esque future ahead, investors may want to consider flying car stocks such as:
Joby Aviation (JOBY)
Joby Aviation (NYSE:JOBY) may be trending lower, but don’t write it off just yet. With multi-billion-dollar flying car market potential, JOBY could take off nicely.
For one, earnings haven’t been too shabby. In its most recent quarter, it posted a 17-cent loss, which beat by two cents. Revenues of $1.03 million beat by $300,000. Two, it could fly high on news it’s launching an air taxi service in Dubai.
Three, it signed an agreement with Helo Holdings to install air taxi chargers in the New York City region. Plus, as the global taxi market takes flight, Custom Market Insights says the market could fly from about $3.8 billion in 2023 to $14.9 billion by 2032.
Most recently, it announced it would deliver two aircraft to the Air Force in 2025.
“The early investment and vision by the U.S. government in this critical technology is proving foundational as we continue our path toward commercial passenger service,” added JoeBen Bevirt, Founder and CEO of Joby.
Archer Aviation (ACHR)
We can also look at flying car stocks, like Archer Aviation (NYSE:ACHR), another big name in the electric vertical takeoff and landing market.
For one, as I mentioned above, Stellantis bought 12.3 million shares of ACHR at $5.68 a share. In March, Stellantis bought another 8.3 million shares after Archer CEO Carlos Tavares visited Archer’s headquarters and manufacturing facilities.
As noted in a Stellantis press release, “In January 2023, Stellantis announced that its goal was for Stellantis to mass produce Archer’s Midnight aircraft as its exclusive contract manufacturer thereby allowing Archer to strengthen its path to commercialization by helping it avoid hundreds of millions of dollars of spending. The construction on the first phase of Archer’s high-volume manufacturing facility in Georgia remains on track to be completed later this year.”
Even ARK Invest picked up about 800,272 shares on a pullback in February.
After bouncing from support around $4, the stock is now up to $5.11. From here, with more potential deals, I’d like to see ACHR closer to $8 a share.
Lilium (LILM)
We can also look at shares of Lilium (NASDAQ:LILM) – which are slowly trending higher. After bottoming out at around 80 cents, LILM is now up to 93 cents. From here, I’d eventually like to see it again challenge resistance around $1.40 initially.
With LILM, we know the company signed a memorandum of understanding (MoU) with Lufthansa Group to explore a partnership on eVTOL aircraft operations in Europe. It also signed an MoU with CITIC Offshore Helicopter to set up eVTOL operations in China.
Most recently, the company and Atlantic Aviation teamed up to “construct the necessary infrastructure for their regional air mobility service in the United States,” said John Redcay, Chief Commercial and Sustainability Officer at Atlantic, as quoted in a LILM press release.
Plus, as noted in an LILM earnings release, “2024 will be another key year for our company with the next important milestone in our aircraft development program, first manned flight of the Lilium Jet, targeted for the end of the year.”
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On the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.