EHang tops the December 2024 AAM Reality Index
China-based electric vertical take-off and landing (eVTOL) manufacturer, EHang, has secured the top position in the December 2024 AAM Reality Index, cementing its commercial prospects as the only company globally with certified passenger-carrying eVTOL aircraft.
The AAM Reality Index, published every two months by SMG Consulting, assesses companies on their potential to successfully bring advanced air mobility (AAM) aircraft to market.
The evaluation criteria include funding levels, team expertise, technology readiness, certification progress, and production readiness.
December 2024 rankings
The latest rankings place EHang at the forefront with a score of 8.5/10, followed by Beta Technologies (8), Joby (7.9), Archer (7.9), Volocopter (7.9), Eve Air Mobility (7.6), Airbus (7.6), Autoflight (7.6), Aerofugia (7.4), and Wisk (7.4).
This represents a shift from the December 2023 rankings, where Volocopter led with a score of 8.3, followed by Beta (8), EHang (8), Joby (8), Archer (7.9), Wisk (7.4), Eve (7.2), Vertical Aerospace (7.1), Lilium (7), and Pipistrel (7).
EHang’s market momentum
EHang’s first-place ranking reflects its dominance in the Chinese market, where it had delivered 138 EH216-S autonomous multicopters by late November, including 64 units in the third quarter alone.
In addition to its strong domestic presence, the company is strategically positioning itself as a global leader in advanced air mobility.
During the DRIFTx event held in Abu Dhabi earlier this year, EHang entered into a trilateral agreement with the Abu Dhabi Investment Office (ADIO) and MENA fintech leader Multi Level Group (MLG).
As part of the partnership, the company will establish its regional headquarters in Abu Dhabi, marking a significant step in bringing its eVTOLs to the UAE and surrounding regions.
Competitive landscape
Meanwhile, other companies in the top five rankings are also demonstrating strong progress in certification and commercial readiness.
For instance, Volocopter continues testing its two-seat Volocity multicopter. However, funding constraints remain a hurdle for its certification and entry into service, according to SMG Consulting founder Sergio Cecutta.
Additionally, US-based Archer and Joby are preparing for operations in the UAE, aiming to certify their tilt-prop air taxis by the end of next year.
Similarly, Beta Technologies is on track to certify its Alia conventional takeoff and landing (CTOL) aircraft in late 2024, with its VTOL variant expected by 2026.
Funding updates
In terms of funding, among the top 10 companies, Joby leads in cumulative funding with approximately $3 billion, followed by Archer ($1.8 billion), Lilium ($1.5 billion), Beta ($1.3 billion), Eve ($640 million), Vertical Aerospace ($410 million), and EHang and Autoflight (both at $260 million).
Furthermore, several companies experienced score increases in the December rankings.
Eve rose from 7.2 to 7.4, bolstered by a $34.5 million loan from the Brazilian National Development Bank in early December.
Meanwhile, Airbus climbed to 7.6 from 7.4 following the first flight of its CityAirbus NextGen air taxi in November.
Nonetheless, the latest edition also adjusted entry-into-service (EIS) timelines for several companies.
Eve’s EIS was delayed to 2027 from 2026, Vertical Aerospace to 2028 from 2027, and Ascendance Flight Technologies to 2029 from 2027.