Joby Aviation builds out defense business with $500M acquisition
Joby Aviation has agreed to acquire Resonant Sciences, an Ohio-based maker of radio frequency and sensor systems, for $500 million in cash and stock, deepening the electric air taxi developer's push into the defence sector. The deal, disclosed in a regulatory filing on Tuesday, will see Resonant become a dedicated defence division within Joby, allowing the rest of the company to concentrate on certifying, manufacturing and launching its electric urban air taxis.
Resonant's co-founder and chief executive, J. Micah North, will lead the new division, which absorbs Joby's existing defence work, including turbine-electric and hydrogen-electric aircraft development and its autonomy technology stack. Resonant brings $100 million in trailing 12-month revenue and access to classified US government programmes, complementing Joby's earlier defence tie-up with L3Harris Technologies. The acquisition follows a pattern for Joby, which bought Blade Air Mobility's helicopter rideshare business for about $125 million last year to secure near-term revenue; Blade contributed $36.2 million of Joby's $38.6 million in second-quarter revenue.
In short
- Joby Aviation to buy Resonant Sciences for $500 million, expanding into defence
- New defence unit absorbs Joby's turbine-electric and hydrogen-electric aircraft projects
- Deal mirrors Joby's earlier Blade Air Mobility buy to boost near-term revenue
Steelman: both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
Joby's defence diversification is financially pragmatic during the extended civilian certification and manufacturing timeline. The $100 million in revenue from Resonant provides essential financial stability whilst the company funds critical R&D in advanced propulsion systems, allowing both civilian and defence technologies to advance in parallel. This model mirrors successful aerospace companies like Sikorsky and Airbus, which operate in both sectors and benefit from shared technological advancement.
The case against
The strategy risks compromising Joby's core mission and brand identity centred on sustainable urban mobility. Heavy diversification into defence creates management distraction and mission creep, where military applications consume resources needed for the harder civilian certification and manufacturing work. Government defence contracts bring restrictive regulation and security requirements that can slow civilian innovation cycles, whilst raising ethical concerns that may alienate stakeholders attracted to the company's environmental mission.
Explained simply
Joby Aviation is developing electric aircraft designed to carry passengers on short urban journeys, often called air taxis. Before such aircraft can carry paying passengers, they need regulatory approval and the ability to be built and operated at scale.
The company is also expanding into defence, where aircraft, sensors and autonomous systems can be developed for government use. Resonant Sciences makes radio-frequency and sensor equipment, and its access to classified US programmes gives it experience and connections in that market.
The deal fits a broader effort by Joby to add other business lines while its air taxis are still being developed and certified. Its earlier purchase of Blade’s helicopter ride service brought in revenue from passenger flights.