Joby Aviation, Inc. (JOBY - Free Report) announced that it has begun flying its pre-production prototype electric vertical take-off and landing (eVTOL) aircraft with a pilot on board.
So far, four members of the company's flight test team have piloted flights.The pilots have also completed a series of initial tests that included free thrust borne hovers and forward transitions to semi-thrust borne flight. The testing took place at the company’s Pilot Production Facility in Marina, CA.
Most of Joby Aviation ’s testing has been completed remotely from a ground control station by using modern communications technology and software. This remote testing allowed JOBY to generate a large amount of data on the performance of the aircraft through a variety of flight conditions.
The pilot-on-board campaign was led by its Chief Test Pilot, James “Buddy” Denham. The campaign was designed to collect information on the aircraft’s handling qualities and pilot control interfaces. This supports the development of JOBY and lays the foundation for upcoming “for credit” testing, as part of the ongoing certification program with the Federal Aviation Administration.
During recent testing, pilots monitored the ease of conducting multiple tasks and maneuvers that they will be required to perform during normal operations. This included vertical takeoffs, accelerating and transitioning to forward flight, runway centerline tracking and decelerating to a vertical landing on a representative landing pad. This evaluation of Mission Task Elements will support the future certification of eVTOL and the company’s continued work with the Department of Defense.
In September, the company announced that it would build its first scaled aircraft manufacturing facility in Dayton, OH, producing up to 500 aircraft per year.
Initiating piloted flying is a major step forward in JOBY’s journey towards commercialization.
Zacks Rank
JOBY currently carries Zacks Rank #4 (Sell).
Key Picks
Some better-ranked stocks for investors interested in the Zacks Transportation sector are GATX Corporation (GATX - Free Report) and Ryder System (R - Free Report) .
GATX, which presently carries a Zacks Rank #2 (Buy), has strengthened its railcar leasing operations. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
For third-quarter and full-year 2023, GATX’s earnings are expected to register 36.6% and 14.3% growth, respectively, on a year-over-year basis.
Ryder, which currently carries a Zacks Rank #2, is benefiting from its consistent efforts to reward shareholders through dividends and share repurchases.
Despite weak market conditions, Ryder reported better-than-expected earnings in second-quarter 2023. In fact, the company has an impressive earnings surprise history. R has surpassed the Zacks Consensus Estimate in three of the last four quarters (missing the mark once), the average beat being 11.2%.
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Joby Aviation, Inc. (JOBY - Free Report) announced that it has begun flying its pre-production prototype electric vertical take-off and landing (eVTOL) aircraft with a pilot on board.
So far, four members of the company's flight test team have piloted flights.The pilots have also completed a series of initial tests that included free thrust borne hovers and forward transitions to semi-thrust borne flight. The testing took place at the company’s Pilot Production Facility in Marina, CA.
Most of Joby Aviation ’s testing has been completed remotely from a ground control station by using modern communications technology and software. This remote testing allowed JOBY to generate a large amount of data on the performance of the aircraft through a variety of flight conditions.
The pilot-on-board campaign was led by its Chief Test Pilot, James “Buddy” Denham. The campaign was designed to collect information on the aircraft’s handling qualities and pilot control interfaces. This supports the development of JOBY and lays the foundation for upcoming “for credit” testing, as part of the ongoing certification program with the Federal Aviation Administration.
During recent testing, pilots monitored the ease of conducting multiple tasks and maneuvers that they will be required to perform during normal operations. This included vertical takeoffs, accelerating and transitioning to forward flight, runway centerline tracking and decelerating to a vertical landing on a representative landing pad. This evaluation of Mission Task Elements will support the future certification of eVTOL and the company’s continued work with the Department of Defense.
In September, the company announced that it would build its first scaled aircraft manufacturing facility in Dayton, OH, producing up to 500 aircraft per year.
Initiating piloted flying is a major step forward in JOBY’s journey towards commercialization.
Zacks Rank
JOBY currently carries Zacks Rank #4 (Sell).
Key Picks
Some better-ranked stocks for investors interested in the Zacks Transportation sector are GATX Corporation (GATX - Free Report) and Ryder System (R - Free Report) .
GATX, which presently carries a Zacks Rank #2 (Buy), has strengthened its railcar leasing operations. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
For third-quarter and full-year 2023, GATX’s earnings are expected to register 36.6% and 14.3% growth, respectively, on a year-over-year basis.
Ryder, which currently carries a Zacks Rank #2, is benefiting from its consistent efforts to reward shareholders through dividends and share repurchases.
Despite weak market conditions, Ryder reported better-than-expected earnings in second-quarter 2023. In fact, the company has an impressive earnings surprise history. R has surpassed the Zacks Consensus Estimate in three of the last four quarters (missing the mark once), the average beat being 11.2%.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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