Jaunt Air Mobility has entered into an agreement to merge with the AIRO Group in the US. Jaunt joins a group of six aerospace businesses all engaged in the next generation of advanced air mobility (AAM) technologies and services. The group offers commercial, military, robotics, manned/unmanned aerial systems and multi-modal aircraft and avionics systems.
Headquartered in Dallas, Texas, Jaunt is manufacturing eVTOL and hybrid-electric aircraft. The Jaunt Journey is a part helicopter, part fixed wing aircraft that will be certified to transport commercial certification requirements. The company’s slowed rotor compound (SRC) technology slows the rotor once aloft (the rotor tip speed equaling the aircraft's speed) thereby reducing drag and associated vibration. In combination with a small wing size for cruise, it produces a lift to drag ratio equivalent to a fixed wing aircraft, providing efficient flight with a very low level of noise that is practically imperceptible in flight.
“AIRO has existing revenue in its current civilian and military operations and has historically reinvested earnings into Independent research and development,” says AIRO executive chairman Dr Chirinjeev Kathuria. “Therefore, additional capital required to produce fully operational eVTOL aircraft is substantially reduced to our advantage compared with our competitors. The current market capitalisation of companies in the eVTOL space and urban air mobility platforms is significant. AIRO additionally delivers diversified services across the UAM/avionics/eVTOL/defence marketplace. We are poised to be the leading publicly traded mid-tier aerospace and defence company after the void created by acquisitions in the public marketplace.”
Jaunt CEO and CTO Martin Peryea adds: “The combined companies address many segments of the advanced aviation market and will pursue a public offering. It is undoubtedly one of the most exciting times in aerospace. The convergence of many new technologies will change the way we move people and packages while reducing the industry's carbon footprint.”
The AIRO Group aims to be a mid-market leader in a $364 billion growth sector and claims to be well positioned for accelerated growth as a public company. The AIRO Group consists of AIRO Drone, Agile Defense, Aspen Avionics, Coastal Defense, Sky-Watch, VRCO and now Jaunt Air Mobility. The combined strength of these companies offers significant global opportunities as well as operational and financial synergies.