I’ve been watching all the hype in advanced air mobility over the last few years, and it feels like we’ve finally hit the “humble pie” stage. The excitement is still there, but the realism is setting in. And from what I’m seeing, investors are frustrated. They’re losing interest in programs that require billions of dollars, constantly shifting timelines, and certification targets that keep moving.

We can’t ignore that.

Investors don’t know what to trust anymore. They see timelines slipping. They see capital requirements ballooning. They see programs burning through hundreds of millions with no revenue in sight.

And while I love the ambition of the eVTOL companies pushing the future of aviation, we need that, we also have to look at what the market is telling us. There’s a correction happening, and we need to be realistic about what can actually get funded today.

When I saw Maeve fail to secure a €20M bridge round — even with airline interest and strong partnerships, it really highlighted how tough this environment has become. Not because the idea was bad, but because the next stage required hundreds of millions more. In this market, that’s simply not sustainable.

And I keep coming back to this number: roughly 70 to 75 percent of all AAM funding — about $8 to $9 billion — went into eVTOL programs. Meanwhile, the rest of advanced air mobility (hybrids, eSTOL, regional electrics, infrastructure) shared only 25 to 30 percent of the capital. Ironically, many of those non-eVTOL programs have clearer use cases, more realistic economics, and faster paths to certification.

This is where credibility has to come back into the picture.

We need to bring investors opportunities that:

• have realistic timelines

• have achievable certification paths

• don’t require billions before validation

• and can actually get to revenue

And from everything I’m seeing, the quickest path to FAA certification — and the most fundable path — is in hybrid electric and fully electric, shorter range, smaller fixed wing aircraft. These programs are more practical, and more aligned with what investors are willing to support today.

The more futuristic concepts still matter. They should absolutely continue — but with government funding, university partnerships, and long horizon R&D, not with the expectation that private investors will bankroll decade-long science projects.

Because while those technologies mature, there are companies right now building aircraft that can change travel, can generate revenue, and can restore trust in this industry.

I want this industry to succeed — but success starts with honesty about capital, timelines, and what’s actually fundable in 2026.

— Phil ⚡

Source Links

LinkedIn: https://www.linkedin.com/feed/update/urn:li:activity:7432052504298958848/

Substack: https://energyverse.substack.com/

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