Vertical Aerospace targets 2028 certification under ‘Flightpath 2030’ plan
November 12, 2024
Vertical Aerospace has unveiled what it terms a “strategy for market leadership before the end of the decade,” with ‘Flightpath 2030’ intending to “set a clear route for the company’s journey from prototype to production” – with the first major update to the VX4 expected as soon as 2030.
With the VX4 to be certified in 2028 (a revision from Vertical’s earlier estimate of 2026), the company explains that this update “follows Vertical’s positive engagement with the CAA as well as its progress, insights, and growing confidence from the second piloted flight test plan,” which has recently advanced to untethered, piloted thrustborne flight.
Following CAA certification, the VX4 could also receive its first major upgrade in as little as two years, with both range and passenger capacity extended. The addition of two extra passenger seats and extended range (facilitated by the aircraft’s “cabin width and robust powertrain”) could be achieved “with minimal adjustments to the design of certification requirements,” states Vertical.
By the end of the decade, Vertical is also targeting the delivery of 150 aircraft and “achieving significant milestones in high-quality, large-scale production;” leveraging collaborations with industry partners such as GKN Aerospace, Leonardo and Molicel. By the end of 2030, Vertical is eyeing an ambitious annual production rate of 200 units, with plans to “scale up to greater than 700 units per year in the medium-term”.
“Since I became CEO, I’ve been clear that I want Vertical to lead – not just compete in the eVTOL sector,” explained Vertical Aerospace CEO Stuart Simpson, who described the Flightpath 2030 strategy as offering a “new level of detail on how exactly [the company intends] to get there”. This includes “delivering the safest and most versatile aircraft, with the most compelling business model in the industry”.
Vertical’s confidence that it can position itself to be “sustainably cash generative, achieving cash break-even in 2030,” comes as the company faces an increasingly challenging financial situation – with Vertical requiring additional funding to extend its projected cash runway into the third quarter of 2025. In H1 2024, Vertical maintained what it deemed an “industry-leading capital efficiency” with an operating loss of £20 million; holding cash and cash equivalent worth £42.8 million as of the end of September. However, with net outflow for the latter half of 2024 expected to total between £40-£45 million, Vertical remains engaged in dialogue regarding potential third-party investment.
However, the company’s ability to achieve cash break-even in 2030 is underpinned by Vertical’s confidence in “the capital efficiency of its focused OEM business model;” concluding that “gross profit margin is currently expected to build to >40% in the following years”.
