Archer Aviation, which is developing electric-powered vertical takeoff-and-landing aircraft, is stepping up its defense links to Orange County.
Archer said it has taken over a “technical team” and patents from now-defunct flying taxi company Overair in Santa Ana. Separately it has also acquired a facility in Huntington Beach to make composite materials used in the aircraft.
The moves are the latest in a trend making OC an increasingly important center of aerospace work and development.
San Jose-based Archer Aviation (NYSE: ACHR) is one of more than two dozen companies aiming to perfect so-called eVTOLS, often called flying taxis powered by electricity.
The original goals were civilian-focused, but many of the companies are starting to branch out into work for the U.S. military and its allies.
While not specifying the exact Overair patents that were taken over, Archer said they were part of the “defense program and aircraft material-related purchases.”
Archer also repeatedly emphasized Overair was a Karem Aircraft spin-off.
Karem in turn was founded by Abe Karem, dubbed the “drone father’’ for the Predator, once the most feared drone that also revolutionized aerial warfare.
Composite Making In-House
Archer CEO Adam Goldstein said the company is now able to manufacture specialized composite materials in-house after acquiring an approximately 60,000-square-foot facility in Huntington Beach from Mission Critical Composites.
“The latest acquisition of Mission Critical Composites allows Archer to bring core composite fabrication capabilities in-house, supporting our defense program needs for rapid prototyping and iteration,” an Archer spokesperson told the Business Journal on Aug. 14.
There are about 20 Archer employees currently working in Huntington Beach, with more to be added. The company is building an aircraft named “Midnight.”
Financial details of the two transactions were not disclosed.
Archer cited “strong industry momentum” following the announcement of the Pentagon’s recent $13.4 billion request for autonomous military systems.
Luckey’s Anduril Industries
Archer is also working with Palmer Luckey’s Anduril Industries on vertical takeoff and landing aircraft.
“These acquisitions build on Archer’s December 2024 announcement of a strategic partnership with Anduril to co-develop hybrid, autonomous VTOL military aircraft—followed by $1.3 billion in capital raised to pursue both defense and commercial opportunities,” Archer said.
Archer looks forward to “rapid prototyping” to speed up development.
“Momentum is strong on the defense platform. We’re excited about the path ahead, and we’ll continue to share more details in the back half of this year,” according to Tom Muniz, Archer’s chief technology officer.
On the civilian side, Archer said in June it will be the official air taxi provider for the 2028 Summer Olympics, as it expands its California footprint to Orange County,
The company’s shares closed at $9.82 apiece as of Aug. 15 for a market cap of $6.3 billion, up from $3.73 apiece 12 months ago.
