Meanwhile, even before the eVTOL has earned commercial certification, a company called Future Flight Global has signed a contract to purchase up to 116 Midnight aircraft. That $580 million deal brought Archer's prospective order book up to $6 billion.

The future of the transportation sector is taking flight, literally. Archer Aviation Inc. (NYSE: ACHR) is at the forefront of the rapidly evolving urban air mobility (UAM) market, designing and developing electric vertical takeoff and landing (eVTOL) aircraft.