Anduril and Archer have announced a strategic partnership to jointly develop a hybrid Vertical Takeoff and Landing (VTOL) aircraft for defense applications. The two companies aim to target a potential Program of Record from the Department of Defense (DoD).
Leveraging Archer’s expertise in rapidly developing advanced VTOL aircraft using existing commercial parts and supply chains, combined with Anduril’s deep knowledge in artificial intelligence, missionization, and systems integration, the partnership is poised to accelerate the development and deployment of critical hybrid VTOL capabilities. This approach is expected to significantly reduce costs compared to traditional development methods.
Archer’s efforts on this project will be part of its new Archer Defense program. To support this initiative and for other general corporate purposes, Archer recently raised $430 million in additional equity capital, with participation from Stellantis, United Airlines, and new institutional investors, including Wellington Management and Abu Dhabi investment holding company 2PointZero, a subsidiary of UAE’S largest listed entity, IHC. Archer ended Q3’24 with $502 million of cash and cash equivalents on its balance sheet and this raise brings Archer’s total capital raised to nearly $2 billion to date. Following this capital raise, and together with Archer’s other announced financing arrangements, Archer believes it is now well-positioned with one of the sector’s leading balance sheets with no near-term financing needs.
Archer Defense has appointed Joseph Pantalone as Head of Advanced Projects. Mr. Pantalone, a seasoned leader in military aviation with nearly 30 years of experience at Lockheed Martin and Sikorsky, recently joined Archer. He will lead the company’s defense initiatives, drawing upon the continued support of Archer’s Defense Advisory Board, which was established in May 2023 and comprises retired military leaders.
A military history enthusiast, Richard began his career at Forecast International as editor of the World Weapons Weekly newsletter. As the Internet became central to defense research, he helped design the company’s Forecast Intelligence Center and now coordinates the FI Market Recap newsletters for clients. He also manages two blogs: Defense & Security Monitor, which covers defense systems and international security issues, and Flight Plan, focused on commercial aviation and space systems.
For more than 30 years, Richard has authored Defense & Aerospace Companies, Volume I (North America) and Volume II (International), providing detailed data on major aerospace and defense contractors. He also edits the International Contractors service, a database tracking all companies involved in programs covered by the FI library. Richard currently serves as Manager of the Information Services Group (ISG), which develops outbound content for both Forecast International and Military Periscope.
