Air taxi firm Joby acquires defense tech company for $500 million
Joby Aviation said on Tuesday it would buy defense technology company Resonant Sciences for about $500 million, as it looks to scale its business in a growing defense market.
Electric vertical take-off and landing aircraft (eVTOL) companies are focusing more on the military market as commercial development has taken longer than expected and defense spending has ramped up, driven by wars in Ukraine and the Middle East.
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