The aviation industry is looking for its own Tesla

While automakers – led by Tesla (TSLA) – have developed an entire fleet of electric vehicles in recent years, aircraft manufacturers are much further away from electrifying the industry.

That makes the industry’s goal of achieving net-zero emissions by 2050 all the more elusive, energy experts say.

“Aviation is very difficult to decarbonize,” Samantha Gross, director of energy security and climate initiatives at the Brookings Institution, told Yahoo Finance. “You will never see a battery-powered 737 (airplane) because batteries are heavy.”

That is why the industry is working on a number of green energy solutions, such as sustainable fuels for larger long-haul aircraft. Meanwhile, electrifying small planes and helicopters are also on the horizon.

So far, a handful of startups have made progress toward the electrification of air travel. And their initiatives attract investments manufacturing, airlines and auto giants.

United Airlines (UAL) signed a $1 billion deal with Archer Aviation (ACHR) several years ago to purchase up to 200 of the startup’s vertical take-off and landing vehicles, or eVTOLs. Prior to the United deal, the California-based company partnered with European automaker Stellantis (STLA).

During an earnings call earlier this year, Archer co-founder Adam Goldstein explained why the company took on an investment from the automaker: “When I founded Archer, I knew from looking at the EV industry that developing the ability to to produce in large volumes may be the most important factor for our future success besides the design and certification of the aircraft,” he said.

Meanwhile, Toyota (TM) and Delta (DAL) Airlines have backed Santa Cruz, California-based Joby Aviation (JOBY). The startup’s eVTOLs can travel up to 100 miles on a single charge, or two round trips between JFK Airport and downtown New York City. The company has already delivered one of its aircraft to the US Air Force for testing and training as part of a broader contract with the US Department of Defense.

French aircraft manufacturer Airbus (AIR.PA) has an internal unit working on its own electric air taxi prototype, with delivery scheduled for the end of this decade.

Last year, American aircraft manufacturer Boeing (BA) became the sole owner of Wisk Aero, a Mountain View, California-based startup working on eVTOLs. Boeing invested $450 million in the company in 2022.

“What they (startups) are doing today, they’re collecting data on how you fly one of these aircraft in an all-electric environment,” said Dave Shilliday, vice president and general manager of advanced air mobility at Honeywell (HON). The company makes engines and other internal components for traditional and electric aircraft.

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The Federal Aviation Administration has yet to fully certify the commercial use of electric aircraft in the United States, but Archer and Joby hope to launch them commercially in 2025.

Autonomous air taxis

Wisk has been working on a fully autonomous air taxi since 2010. The startup’s ‘Generation 6’ has a range of 140 kilometers and can carry four passengers and their hand luggage. There are no pilots on board, but the flights are guided by people on the ground.

Wisk recently announced an agreement with the city of Sugar Land, Texas, to develop infrastructure that would ultimately enable Wisk’s autonomous air taxi operations in the Greater Houston area.

The company says its goal is to make the service affordable for everyone from students to professionals. “A trip on Wisk’s aircraft will be comparable to the cost of a basic trip per mile,” a spokesperson said.

It’s unclear when Generation 6 will receive certification to fly commercially, but the company has already conducted approximately 1,700 test flights across multiple generations of the aircraft.

Hybrid aircraft

Just as hybrid cars have become the intermediate step towards becoming fully electric for the automotive industry, the aircraft industry is gradually going electric.

One example is Ontario, Canada-based Horizon Aircraft (HOVR), which is currently working on a 4.5-meter hybrid eVTOL, initially aimed at municipal use and emergency situations such as hospital transports.

“Think of it (the hybrid) as a very practical bridge to a future where all-electric airplanes actually make a lot more sense,” said Brandon Robinson, co-founder and CEO of Horizon Aircraft.

The former Canadian fighter pilot predicts that cost-effectiveness will lead to more hybrid solutions in the short term.

““If you use less fuel per kilometer, you not only save costs, but from a sustainable aviation perspective you also produce less hydrocarbons,” he added.

Sustainable fuel

With battery weight being one of the main limitations for long-haul electric flights, the industry is currently turning to clean jet fuels for large aircraft.

Virgin Atlantic made history last year by testing the first transatlantic flight from London to New York City using 100% sustainable, non-petroleum aviation fuel (SAF).

“The world will always assume something can’t be done… until you do it,” read a blog post from founder Sir Richard Branson. “Today’s flight shows that sustainable jet fuel can be used as a drop-in replacement for jet fuel – and it is the only viable solution for decarbonizing long-haul flights.”

The UN International Civil Aviation Organization wants the total SAF pool to increase from the current level of less than 1% to 5% by 2030.

“We think this is very feasible,” Gavin Towler, Chief Sustainability Officer at Honeywell, told Yahoo Finance. The company licenses its SAF technologies for chemical plants to startups and oil companies.

There are numerous ways to produce sustainable aviation fuels, but three have emerged as industry leaders. One of them uses raw materials. The other is linked to ethanol, which is also used in gasoline blends. A third concerns the conversion of carbon dioxide and hydrogen into jet fuel.

Having one standard for SAFs across the board would help accelerate the path to sustainability, Ramanan Krishnamoorti, vice president for energy and innovation at the University of Houston, told Yahoo Finance.

“Price is the biggest challenge we face today,” he said. “The second is also having the same quality of sustainable jet fuel around the world.”

Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on Twitter at @ines_ferre. Yahoo Finance’s Madison Mills contributed to this report.

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