Joby flexes military muscle with $500 million defense acquisition
Joby Aviation announced it was acquiring Dayton, Ohio-based defense firm Resonant Sciences in a $500 million deal, in a bid by the electric aircraft company to expand further into the military industrial complex.
Joby says it expects to finance the deal with $450 million in cash and $50 million in equity. After the deal closes, which is expected in early 2027, Resonant will continue its existing work as Joby’s dedicated defense division, the company said. The commercial division will remain focused on air taxis, the first of which are expected to launch later this year.
The deal is the latest example of the fledgling electric aviation industry looking beyond urban air taxis for new revenue streams, especially as rising costs and a protracted regulatory approval process pushes air taxi success further into the future. For many, lucrative military contracts represent too ripe an opportunity to pass up.
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