Archer Aviation Expands Aerospace Platform Through Boeing Deal
Archer Aviation Inc. (ACHR) highlighted its growth plan during its second-quarter earnings call, focusing on expanding its aerospace and defense platform through a deal with Boeing.
The company plans to acquire Wisk Aero, Insitu, and SkyGrid from Boeing, with the latter taking a strategic equity stake in Archer. CEO Adam Goldstein said this acquisition will add autonomy and flight-control capabilities through Wisk, while Insitu's profitable business with over $200 million in annual revenue will provide significant revenue streams.
The integration of these companies is expected to be completed by year-end, with the engineering teams working together during an exploratory period. Archer's Midnight certification remains a top priority, even as it expands its portfolio, with Goldstein emphasizing that defense and autonomous systems will generate earlier revenue without displacing Midnight as its core commercial program.
The company also highlighted its AI products, with CEO Goldstein stating that ZEE is being developed for pilot applications, air traffic management, and airline operations. Archer aims to have its AI products become profitable by 2027, with a potential significant ramp in the second half of the year and beyond.