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Two of the world’s leading air taxi companies received more good news this week.

California-based Archer Aviation just signed an agreement with the US Air Force to deliver the first 6 of its “Midnight” drone taxi vehicles by early 2024.  The deal, which is worth $142 million, includes pilot training, development of maintenance and repair operations, and the sharing of flight test and certification-related test reports.  The six-year old firm, which  is one of only a handful of air taxi companies that is publicly traded,  saw shares of its stock jump in value by nearly a third after the deal was announced.

Meanwhile, Germany-based Lilium, which hopes to commercialize its own patented drone jet taxis by 2026, just received an infusion of $192 million in investment capital to spur its own prototype development.  Major investors include Earlybird Venture Capital, BIT Capital, UVC Partners and multiple institutional investors led by B. Riley Securities and e-mobility investor E-vestment B.V.  In addition, several Lilium Board members and senior executives contributed to the company’s latest investment round.

This is actually Lilium’s second recent funding breakthrough.  In May of this year, it received nearly $100 in investment capital, bringing its yearly total thus far to nearly $300 million, a sign of growing investor confidence in the company and its production plans.

Lilium’s jet taxi is unique among flying car prototypes for being a “hybrid” that can seat up to six passengers but also converts to a small drone cargo vehicle, as needed.  Archer’s Midnight is a smaller eVTOL air taxi that seats two.  Both vehicles can fly at speeds in excess of 125 mph.

While Archer envisions the Midnight serving as a short-distance commuter shuttle, Lilium sees its drone jet taxi as a “middle” mile vehicle that can fly for distances of 50 miles or more.  Its jet taxi includes a gas-powered auxiliary engine that can recharge the vehicle’s batteries while it’s still airborne. The company is also working on developing a system of “vertiports” that will allow its vehicle to land and re-launch at will.

Archer is not the first American drone taxi company to secure a US Air Force contract.  Its Silicon Valley neighbor. Joby Aviation, earlier received a USAF contract.  Last year, both companies signed agreements with major commercial airlines to begin service at US international airports –  Archer with United, Joby with Delta.

Still, Lilium appears to have a major leg up on its American competition.  To date, it’s the only air taxi company that has received “airworthiness” certificates from both the Federal Aviation Administration (FAA) and the European Aviation Safety Administration (EASA) allowing it to fly on both sides of the Atlantic once its final prototype is approved and mass production gets underway.

Lilium is also expanding beyond Europe into Asia.  The company has plans to establish  regional headquarters in Shenzhen province in southern China.  A Chinese firm, Heli-Eastern, recently ordered 100 of Lillium’s jet drone jet taxis and other Chinese investors are reportedly beginning to warm to the German firm.  Lilium also has deals with companies in Italy, Switzerland and Spain.

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