Joby Aviation (JOBY) has completed the first test flight of its new hybrid defense aircraft with L3Harris Technologies (LHX). The event took place on November 7 at Joby’s site in Marina, California. It came only three months after the two companies announced the project. Joby Chairman Paul Sciarra said the result shows how fast the team can move from plan to flight as demand grows for military technology.
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The hybrid aircraft can fly with or without a pilot on board. It was designed to support new U.S. defense goals that focus on autonomy and AI. The Trump Administration has raised spending on those programs as part of a wider effort to modernize the military. It also plans a $175 billion “Golden Dome” missile defense project. Sciarra said global conflicts have shown how fast new commercial technology can reach the field, giving firms like Joby more room to grow in defense work.
Meanwhile, JOBY shares dropped 0.31% on Wednesday, closing at $16.30. Overall, the stock has climbed 100% so far in 2025.
Linking defense and business growth
Joby is best known for its electric vertical takeoff and landing (eVTOL) aircraft. The company is working toward Federal Aviation Administration approval so it can start flying passengers. At the same time, Joby plans to let government units begin testing the hybrid aircraft next year. The company believes this model can also serve the commercial market later on.
The company is also expanding outside the U.S. This week, it signed an agreement to bring its air taxis to Saudi Arabia and continue work with the United Arab Emirates. These projects could help build its brand while creating a steady path toward future earnings.
A growing eVTOL market
Joby’s rivals are also gaining traction. Archer Aviation (ACHR) was chosen as the official air taxi provider for the 2028 Los Angeles Olympics, and its stock has jumped 102% over the past year. Beta Technologies (BETA), which has support from Amazon (AMZN), started trading on the New York Stock Exchange this month.
Together, these names highlight a fast-moving market where aviation firms are mixing defense, autonomy, and electric flight. Joby’s early success with L3Harris gives it a visible place in that shift and could help it reach both government and commercial buyers in the years ahead.
Is JOBY Stock a Buy?
Despite Joby’s growing reputation, the Street’s analysts are divided on the stock’s prospects. The stock boasts a Hold consensus rating, with only one analyst out of six rating it a Buy. The average JOBY stock price target is $15.50, suggesting a 4.91% downside from the current price.
