We seldom get to see an industry appear out of thin air. A niche technology will sometimes turn into a small startup community, but how often does a new category mature all the way into something huge?
This is the path we’re on, it seems, with AAM.
Shorthand for advanced air mobility, AAM is a new ecosystem of electric aircraft that can move people and cargo between previously underserved destinations. Uber, Lyft, and Lime made it easier to move in two dimensions; AAM lets us move in three.
A brief history: in 2009 NASA piqued widespread interest with their rendering of an electric vertical take-off and landing aircraft, a.k.a. an eVTOL [1]. Two years later, a guy in Germany took flight on a yoga ball [2]. In 2016, Uber teased out these early developments with a white paper on what a mature ecosystem could look like. Today, dozens of eVTOL startups are poised to begin manufacturing at scale. Some of the vehicles pictured below are slated to do air taxi flights in the next few years.
But AAM doesn't only mean passenger-bearing eVTOLs; it encompasses myriad hybrid and fully-electric aircraft designed to move people and goods. This broad category is the subject of my newsletter, Airframe.
The industry is still in its early years, so if you’re just joining, you’re not too far behind; we can get you caught up. You may hold $JOBY, $EVTL, $ACHR, or $LILM and want to know what’s next for these eVTOL companies. You may be hoping to step aboard an eVTOL for your morning commute, or some day operate an eVTOL as a pilot. You may want to work in the AAM industry (I’d recommend it—I’ll be sharing job openings as they pop up). Whatever your objective, I’m glad you’re here.
If I get this right, Airframe will be more than just another place to stay plugged into the industry. In addition to sharing the latest news, we’ll explore some higher-level themes:
Human-centered AAM. We are closer than ever to experiencing eVTOLs as passengers. We will cover manufacturing strategy, B2B partnerships, and regulatory milestones, but we will spend more time looking at the human-centered elements: booking UX, in-cabin experience, availability of embarkation points, routes, pricing, and more.
Investor POV. A handful of eVTOL companies are publicly traded, and we’re likely to see many more IPOs in the future. What does one need to know to be a smart investor in the space? How are private investors (e.g., private equity and venture capital) looking at AAM startups? [3]
Mobility for good. How does the proliferation of air mobility solutions affect income inequality? How will it change our daily behaviors? Will eVTOLs cloud our skies? Will we spend more in-person time with our colleagues, friends, and family?
My hope is that this newsletter can bring together a community of AAM enthusiasts, insiders, and investors—and anyone who can’t wait to see the world transformed by three-dimensional mobility. The pace of change may be somewhat disorienting, so please make sure your seat belt is securely fastened and all carry-on luggage blah blah—you get the idea. Subscribe below for a free weekly newsletter.
[1] YouTube: NASA Puffin Low Noise, Electric VTOL Personal Air Vehicle
[2] Not just any guy, Thomas Senkel is credited with performing the first manned flight with an electric vertical take-off and landing multicopter. His efforts turned into Volocopter, which is one of the leading companies in eVTOL development.
[3] Disclaimer: This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
Excited for future editions!