Joby Aviation acquires defense tech firm Resonant Sciences for $500M

Electric air taxi developer Joby Aviation has agreed to acquire Ohio-based Resonant Sciences for $500 million in a combination of cash and stock, according to a regulatory filing made public on Tuesday. The deal marks the company's latest step in building out its presence in the defense sector.

Resonant Sciences, which produces radio frequency and sensor systems, will become a standalone defense division within Joby. The unit will be led by Resonant's co-founder and CEO, J. Micah North, and will take over Joby's existing defense-related work, including its turbine-electric and hydrogen-electric aircraft programs and its autonomy technology stack. According to Joby, separating out this work will let the rest of the company focus on certifying, manufacturing, and bringing its electric air taxi to market.

Growing defense footprint

Joby is primarily known for its plans to build a network of electric air taxis capable of carrying people and cargo over short distances, but the company has also been building a defense business, an effort that has become more visible over the last two years. Last year, Joby struck an agreement with defense contractor L3Harris Technologies to explore developing a new aircraft category — a gas-turbine hybrid vertical takeoff and landing (VTOL) aircraft capable of autonomous flight, based on Joby's existing S4 platform. In 2024, under a government contract, Joby flew a hydrogen-electric hybrid version of the S4 for 521 miles, more than double the range of its battery-electric prototype.

A source of near-term revenue

Resonant Sciences reported $100 million in trailing 12-month revenue and holds access to classified U.S. government programs, giving Joby an immediate, money-making addition to its portfolio. This mirrors a strategy Joby has used before: last year it acquired Blade Air Mobility's helicopter rideshare business for about $125 million, gaining access to 12 terminals, including locations at New York-area airports. In its most recent quarter, Joby reported $38.6 million in revenue, of which $36.2 million came from the Blade business.