Forget Joby Aviation: This Dividend Defense Stock Is a Smarter Play on Next-Gen Air Supremacy

• Joby Aviation says it's got "the astir mature eVTOL aircraft" connected the market.

• What Joby doesn't person is profit, commercialized support to fly, oregon precise overmuch revenue.

• Lockheed Martin has already built, delivered, and sold 220 craft truthful acold this year.

• 10 stocks we similar amended than Joby Aviation ›

Valued astatine $12.7 cardinal and with much than $930 cardinal successful cash, Joby Aviation (NYSE: JOBY) is hands-down the biggest aerial taxi institution successful the satellite -- that isn't really flying aerial taxis yet. It's twice the size of its closest competition, smaller Archer Aviation, and miles up of tiny Vertical Aerospace and Lilium.

However, this isn't capable to marque Joby Aviation banal a buy.

Joby boasts that its S4 electric-powered, vertical takeoff and landing (eVTOL) craft is "the astir mature eVTOL aircraft" connected the market. Powered by six electrical motors, the level tin scope speeds of 200 miles per hr (mph) and transportation a aviator and 4 passengers. S4 has already flown 40,000 miles during investigating and has completed 3 retired of 5 planned Federal Aviation Administration-defined stages for "type" certification, paving the mode for commercialized operations to begin.

Joby whitethorn adjacent statesman operations sooner, with the United Arab Emirates promising to licence aerial taxi flights successful 2026 and Saudi Arabia permitting "pre-commercial valuation flights" successful H1 2026. In total, Joby says it has "more than $1 cardinal successful potential craft and work sales" connected the books (emphasis added).

To assistance marque each this flying possible, Joby has announced it's doubling accumulation capableness successful the U.S. (yes, adjacent earlier receiving certification to fly). The institution plans to beryllium producing 4 craft per period by 2027 -- astir 50 planes per year. Toyota Motor is backing the project, too, committing to put a full of $894 cardinal successful instrumentality for Joby stock.

All this said, it's worthy remembering that Joby went nationalist during the peculiar intent acquisition institution (SPAC) archetypal nationalist offering (IPO) craze backmost successful 2021. That whitethorn rise suspicions successful immoderate investors' minds that Joby is -- for the clip being, astatine slightest -- much hype than substance. And those suspicions whitethorn beryllium justified.

After all, portion Joby has some revenue to its credit, it's not a batch (yet) to enactment a $12.7 cardinal marketplace capitalization -- conscionable $23 cardinal booked successful the past year, and nary nett astatine all. To the contrary, Joby's losses person accrued each twelvemonth it's been public, passing $1 cardinal implicit the past 12 months.