Vertical Aerospace Ltd., a global aerospace and technology company that is pioneering zero emission aviation, today announces "Flightpath 2030," its strategy for market leadership before the end of the decade.

As Vertical advances its piloted flight test programme, which has entered into Phase 2, "Flightpath 2030" sets a clear route for the company’s journey from prototype to production. This strategic plan builds on the progress made by the business to date and is underpinned by learnings from its piloted flight test programme, using a full-sized prototype, positive engagement with its home regulator, the Civil Aviation Authority (CAA) and robust planning by Vertical’s Leadership Team.

Stuart Simpson, CEO at Vertical Aerospace, said: “This is a transformational moment for Vertical as we advance from prototype to production. Since I became CEO, I’ve been clear that I want Vertical to lead — not just compete in — the eVTOL sector.

The strategy and goals we are unveiling today provide a new level of detail on how exactly we intend to get there – the best team, delivering the safest and most versatile aircraft, with the most compelling business model in the industry.”

Market leadership through embedding a pioneering culture, redefining aerospace best practice, intelligent partnering and being safety obsessed.

From the company’s inception, Vertical set out to focus on engineering and product excellence, building an aircraft which meets the highest safety standards and needs of its customers operating the VX4. Vertical’s customers include some of the world’s largest airlines, helicopter operators and aircraft lessors.

Vertical’s mission is to pioneer electric aviation, by integrating four strategic intents – pioneering culture, redefining aerospace best practice, intelligent partnering and safety obsessed - into every stage of development and operations. This is reflected in the strategic goals it has set out to deliver.

Flightpath 2030: by the end of the decade, Vertical is targeting:

- Delivering at least 150 aircraft to our customers, achieving significant milestones in high-quality, large-scale production. Vertical is currently collaborating with leading aerospace firms including GKN Aerospace, Hanwha, Honeywell, Leonardo, Molicel and Syensqo, combining this with innovation as needed, such as with its own proprietary powertrain and propeller technology.

- Achieving an annual production rate exceeding 200 VX4 units in Q4 2030, with plans to scale up to greater than 700 units per year in the medium-term, to deliver against a leading pre-order book. To achieve this goal, Ross Crawford, who has extensive experience in early-stage manufacturing ramp ups, including at Jaguar Land Rover, has been appointed to lead Vertical’s manufacturing capabilities.

- Positioning Vertical to become sustainably cash generative, achieving cash break-even in 2030, given the capital efficiency of its focused OEM business model. Gross profit margin is currently expected to build to >40% in the following years.

- Certifying the VX4 in 2028, followed by certifying its first major upgrade in 2030. This update versus previous expectations 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 began in 2024 and recently advanced to Phase 2: untethered, piloted thrustborne flight—a critical milestone on the path to certification. The aircraft is performing beyond expectations.

The VX4’s high performance powertrain allows for future capacity increases, giving customers flexibility. While the current prototype seats four passengers, its cabin width and robust powertrain enable the potential to accommodate six passengers and extend its range with minimal adjustments to the design or certification requirements.

- Maintaining a zero accident rate, certifying to the highest level of safety – 10-9, the same as for commercial airliners - whilst upholding our commitment to rigorous safety standards across the business.

David King, Chief Engineer at Vertical Aerospace, said: “The eVTOL sector isn’t just another iteration of existing tech; we’re defining an entirely new category of aircraft.

Innovating in this space demands a radical shift in how we develop aerospace solutions. In the UK, with its unmatched aviation heritage, world-class talent, and a thriving ecosystem, we’re driving that change. Today’s plan sets out exactly how we will make this new dawn of travel a reality.”

Outlook

Vertical has an industry-leading capital efficient business model as a focused OEM and has achieved significant key milestones towards certification including:

- The CAA expanding the scope of Vertical’s Design Organisation Approval in July, a requirement for the Type Certification of the VX4 and its entry into service.

- Successfully progressing its full-scale piloted flight test programme – most recently initiating Phase 2 – untethered thrustborne.

- Developing proprietary certifiable battery technology in-house with the sixth-generation packs in use in its current prototype.

As of September 30, 2024, the Group had £42.8 million/$57.4 million of cash and cash equivalents on hand, based on unaudited management accounts.

Vertical currently expects the capital required for the business to deliver its operational goals over the next 12 months to be broadly consistent with spend over the last 12 months of £78.4 million/$98.0 million. This spend will increase over time as Vertical approaches certification and then production.

Discussions are ongoing regarding potential third party investment. Vertical is optimistic that these discussions will result in a transaction that will provide funding further into 2025 and facilitate future fundraising opportunities. In parallel Vertical continues to explore all alternative options available with respect to its funding needs.

In 2025, Vertical plans to:

- Fly full-scale piloted transition.

- Build and fly its third full-scale VX4 prototype.

- Fly full-scale piloted flights demonstrating real-world use cases.

- Earn additional DOA privileges including Flight Conditions privilege granted by the CAA.

- Initiate production with long-range parts purchasing.

- Strengthen its operating model and shift its approach to focus on execution.