Joby Aviation will acquire defense technology company Resonant Sciences for about $500 million as the electric vertical take-off and landing aircraft (eVTOL) maker seeks to expand its presence in the growing defense market.
The acquisition comes as eVTOL companies increasingly turn their attention to military applications. Commercial development has taken longer than expected, while defense spending has increased amid wars in Ukraine and the Middle East.
Joby will continue developing its air taxi eVTOL while shifting its defense programs, including hybrid and autonomous VTOL projects, under Resonant Sciences.
Based in Dayton, Ohio, Resonant designs, manufactures and delivers advanced radio-frequency and mission systems for U.S. national security customers.
Its systems “help aircraft see, communicate, and operate in complex environments”, Joby CEO JoeBen Bevirt told.
“So, this allows our commercial team to be laser-focused on delivering on the air taxi mission”, while potentially opening new markets for Joby by pairing its products with Resonant’s technologies, Bevirt said.
Shares of Santa Cruz, California-based Joby fell 6.5% in premarket trading following news of the transaction.
Joby expects to finance the acquisition with about $450 million in cash and $50 million in its common stock.
The transaction is expected to close in the first half of 2027. Once completed, the combined company will have about 1 million square feet of manufacturing, integration and testing space across the Dayton region.
Following the closing, Resonant will become Joby’s dedicated defense business. It will include Resonant’s hybrid aircraft and autonomy technologies, while Joby’s commercial aircraft business will continue to focus on its electric air taxi initiatives.
Joby said the acquisition will allow it to maintain a clear focus on its commercial air taxi program while creating opportunities to expand its defense activities. The deal also gives the company additional manufacturing, integration and testing infrastructure in the Dayton region.
The acquisition reflects Joby’s strategy of maintaining its commercial eVTOL development while building a dedicated defense business through Resonant Sciences. The transaction is expected to close in the first half of 2027, after which Resonant will operate as Joby’s dedicated defense business and Joby’s commercial unit will remain focused on electric air taxis.
