The U.S. Air Force has added funding to Joby Aviation’s autonomous flight contracts, bringing its total commitment to nearly $37 million and raising the ceiling on Joby’s operational testing contract to $50 million. The money is aimed at autonomy software development and expanded operational testing in the Pacific.

Joby announced the expansion in a press release distributed on November 4, 2026, the same day it reported third quarter 2026 results. The agreements cover software integration and operational testing across two primary contracts with AFWERX, the Air Force’s innovation arm, and follow a cross-country tour in which a Joby-equipped Cessna Caravan logged 6,665 miles of autonomous flights, with landings in 11 states and integrated operations across 24 states.

What the Air Force is paying for

According to the release, the funding supports autonomy software development and expanded operational testing in the Pacific as the Air Force moves toward sustained autonomous logistics operations. Joby said the new contracts will focus on follow-on Pacific military exercises, and that the funding also supports ongoing design updates and safety reviews to extend the autonomy stack’s capabilities.

The two figures in the announcement measure different things. Nearly $37 million is the Air Force’s total commitment, while $50 million is a ceiling on the operational testing contract. In the forward-looking statements attached to the release, Joby lists Air Force funding and appropriations limits, and the possibility that a contract ceiling is not reached, among the risks to its plans.

JoeBen Bevirt, Founder and CEO of Joby Aviation, called the expansion “a powerful validation of the adaptability of Joby’s autonomy stack.” He said the system was designed to be platform-agnostic and that the funding “will accelerate our path to sustained uncrewed operations.”

Kate Brown, Contested Logistics Tactical Airlift Lead at AFWERX, said the goal is to “sustain cargo operations in contested environments” while reducing risk to aircrews and preserving crewed aircraft for the missions that need them.

From Agile Flag to a coast-to-coast tour

The autonomy system at the center of the contracts came to Joby through its acquisition of the autonomy division of Xwing, which Joby completed in June 2024. In an August 26, 2024 release, Joby said that team flew a fully autonomous Cessna 208B Grand Caravan for more than 3,900 miles between military bases and public airports in California and Nevada during the Air Force’s Agile Flag 24-3 exercise, with a safety pilot monitoring the aircraft. The aircraft completed a fully autonomous taxi, takeoff and landing at each of 9 locations, after the Xwing team had logged more than 2,800 miles of fully autonomous flight in Agile Flag 24-1 earlier that year.

“The return on investment for the U.S. Air Force with this technology is significant,” Col. Max Bremer, Air Mobility Command Special Access Program management officer, said in that release, explaining that using the system for smaller cargo frees larger cargo aircraft for tasks such as moving large parts or engines. According to Joby, the system delivered critical replacement parts 24 hours faster than conventional logistics during Agile Flag, and during REFORPAC exercises in August 2025 an aircraft in Hawaii was operated remotely from Guam, nearly 4,000 miles away. AirPro News covered Joby’s role in the REFORPAC 2025 exercise at the time.

The cross-country tour, part of Joby’s 2026 Electric Skies campaign, took the aircraft from Concord, California, to North Carolina’s Outer Banks with zero control inputs from its onboard safety pilot. Joby said in its September 18, 2026 release that the 3,199-mile eastbound flight was supervised remotely from Joby’s Autonomy Headquarters in California and from Shaw Air Force Base in South Carolina, where the aircraft demonstrated representative military flight operations. AirPro News reported on the transcontinental autonomous flight the following day.

Across the full multi-leg tour, Joby said the aircraft performed fully autonomous taxiing, takeoffs, route navigation and landings under remote supervision from up to 2,537 miles away. The September release gave a remote supervision distance of up to 2,323 miles for the eastbound transcontinental flight. A ground-based operator monitors each flight, updates routes and communicates with air traffic control in real time, and the autonomy stack has completed more than 400 fully autonomous flights, according to Joby.

Where defense fits in Joby’s business

Joby is best known for its piloted electric air taxi, and the November 4 release presents the autonomy work as part of a dual-use strategy covering defense logistics, cargo and emergency response. Its autonomous J208 operations are part of the White House-backed eVTOL Integration Pilot Program (eIPP) in Utah and North Carolina. North Carolina tour flights supported the North Carolina Department of Transportation’s eLIFT-NC initiative for statewide healthcare logistics, and western flights contributed to the Utah Department of Transportation’s multi-state uFLY coalition, which is evaluating high-altitude, extreme-environment airspace integration for the FAA.

Joby also plans to acquire Resonant Sciences, with closing expected early in 2027. In its third quarter 2026 results release, filed with the SEC on November 4, Joby described Resonant Sciences as an EBITDA-positive defense technology company with more than $100 million in trailing twelve-month revenue and said the deal would significantly expand its defense business. Closing conditions for the planned Resonant Sciences acquisition remain outstanding, according to the filing.

The same results release put third quarter 2026 revenue at $55 million, primarily from Blade, the passenger transportation business Joby operates in the United States and Europe. Joby said it is in the fifth and final stage of FAA type certification and has 17 aircraft in production.

This article is based on an official press release from Leonardo S.p.A..

Leonardo S.p.A. Reports Double-Digit Growth in FY 2025, Halves Net Debt

On February 25, 2026, Italian defense and aerospace conglomerate Leonardo S.p.A. released its preliminary financial results for the fiscal year 2025, reporting performance that exceeded both company guidance and market expectations. The company achieved double-digit growth across all primary metrics, including new orders, revenues, and profitability, while successfully reducing its net debt by nearly 45%.

According to the official release, the company’s “One Company” transformation strategy has begun to yield significant financial efficiencies. CEO Roberto Cingolani highlighted the results as a validation of the industrial plan launched three years prior, noting that the group has strengthened its financial position ahead of potential strategic moves in 2026.

Financial Performance vs. Guidance

Leonardo reported €23.8 billion in new orders for FY 2025, a 14.5% increase over the previous year and well above the guidance range of €22.3–22.8 billion. This surge in orders has pushed the company’s total backlog to €46.6 billion, providing approximately 2.4 years of revenue visibility.

Revenues climbed to €19.5 billion, marking a 10.9% year-over-year increase. Profitability also improved significantly, with Earnings Before Interest, Taxes, and Amortization (EBITA) reaching €1.75 billion, an 18.2% rise compared to 2024. The company noted that these growth figures are “like-for-like,” excluding the contribution of the Underwater Armaments & Systems business, which was divested to Fincantieri earlier in 2025.

Perhaps the most notable metric for investors was the reduction in Group Net Debt. Leonardo lowered its debt burden to €1.0 billion, down from €1.8 billion in 2024. This reduction was driven by strong Free Operating Cash Flow (FOCF) of €1.0 billion, which beat the upper end of the company’s €980 million guidance.

“We exceeded the challenging guidance, which had been already upgraded during the year. Such a performance represents the completion of the value-accretion path launched three years ago… fully enabling the Leonardo ‘One Company’ model.”

— Roberto Cingolani, CEO of Leonardo S.p.A.

Segment Highlights

The press release detailed growth across all main business sectors, with Aeronautics emerging as a standout performer regarding order intake.

Aeronautics and Aerostructures

The Aeronautics division secured €5.8 billion in new orders, a 55% increase year-over-year. The company attributed this spike to a major logistics support contract in Kuwait and accelerating activity in the Global Combat Air Programme (GCAP). Additionally, the Aerostructures sub-unit, historically a drag on profitability, was reported to have “narrowed its losses” amid recovering demand for commercial fuselages from Boeing and Airbus.

Electronics and Cyber Security

Electronics remains the largest segment by revenue, contributing €8.35 billion. The division maintained the highest Return on Sales (ROS) at 12.9%. Meanwhile, the Cyber & Security Solutions division recorded the sharpest improvement in profitability, with EBITA jumping 63.3% to €80 million and margins hitting 10%.

Strategic Outlook: Joint Ventures and Divestments

Looking ahead to the rest of 2026, Leonardo management outlined several key strategic initiatives. CEO Cingolani confirmed that the company is in advanced negotiations to establish a Joint Venture for its Aerostructures unit. Leonardo expects to finalize the deal by June 2026, initially retaining a 50% stake in the new entity.

Furthermore, the company is currently reviewing its 22.8% stake in German defense electronics firm Hensoldt. Management indicated that discussions are underway regarding a potential reduction in this holding to facilitate an increased position by the German government, with a decision expected before the summer.

AirPro News Analysis: Market Reaction

Despite the operational “beat” across all metrics, Leonardo’s stock (LDO.MI) closed down approximately 2.7% on the day of the announcement, trading around €58.69. In our view, this reaction reflects a classic “buy the rumor, sell the news” dynamic. The stock had rallied significantly in the months leading up to the release, trading near 52-week highs.

While the immediate market reaction was negative, the fundamental improvements in cash flow and debt reduction place Leonardo in a robust position. The reduction of net debt to €1.0 billion significantly increases the company’s firepower for potential M&A activity or increased shareholder returns, such as the potential 20% dividend increase hinted at by leadership.

Sources

Sources: Leonardo S.p.A. Press Release, Borsa Italiana Market Data

Firefly Aerospace’s Strategic Leap in Responsive Space Operations

The U.S. Department of Defense’s recent $179.6 million contract award to Firefly Aerospace marks a pivotal moment in the evolution of military-commercial space partnerships. As global competition in orbital and lunar operations intensifies, Firefly’s Elytra spacecraft emerges as a critical asset for maintaining U.S. strategic superiority through responsive on-orbit capabilities.

This collaboration comes at a time when space domain awareness and rapid deployment capabilities have become national security imperatives. Commercial providers like Firefly now play an indispensable role in fulfilling both scientific and defense objectives, blurring traditional boundaries between civilian space exploration and military operations.

The DoD Contract: A New Paradigm for Space Defense

Firefly’s Elytra spacecraft will demonstrate unprecedented responsive capabilities through the Defense Innovation Unit’s Sinequone Project. The vehicle’s ability to perform on-demand orbital maneuvers addresses growing concerns about satellite vulnerability, enabling rapid repositioning to counter emerging threats.

This contract builds on Firefly’s proven track record with the Space Force’s VICTUS NOX mission, where they successfully launched a payload within 24 hours of notice. Such capabilities are increasingly vital as near-peer adversaries develop sophisticated anti-satellite technologies that challenge traditional orbital defense strategies.

The Elytra platform’s modular design allows for multiple mission configurations. During the Gruithuisen Domes lunar mission, the spacecraft demonstrated its dual-use potential by supporting both NASA science payloads and defense-related communications infrastructure.

“As our country’s deterrence needs grow exponentially, Firefly’s Alpha production line now delivers the responsiveness required to maintain space superiority,” says CEO Jason Kim.

Technical Capabilities Redefining Space Logistics

Firefly’s vehicle portfolio showcases remarkable versatility. The Blue Ghost lunar lander recently completed 14 days of surface operations for NASA, while the Elytra Dark orbital vehicle enables persistent presence in cislunar space. This multi-domain capability positions Firefly as a rare provider of integrated Earth-Moon logistics solutions.

The Alpha launch vehicle’s 1,000 kg to LEO capacity provides cost-effective access for mid-sized payloads. Recent upgrades have reduced turnaround time between missions to 30 days, a critical factor for responsive space operations requiring rapid constellation replenishment.

Elytra’s propulsion system deserves particular attention. Using non-toxic monopropellant thrusters, the spacecraft achieves delta-V capabilities exceeding 500 m/s, enabling complex orbital maneuvers while maintaining compatibility with commercial ride-share launches.

Public-Private Partnerships Driving Innovation

Firefly’s $21.81 million VICTUS SOL contract exemplifies the growing trust in commercial providers for tactical missions. This model allows the Space Force to leverage private sector agility while maintaining operational security through standardized interfaces and protocols.

The company’s four NASA CLPS awards demonstrate successful risk-sharing in lunar exploration. By combining government scientific objectives with commercial delivery services, these partnerships accelerate technology development while controlling costs.

Industry analysts note that Firefly’s vertically integrated manufacturing approach reduces supply chain vulnerabilities. Their Texas-based facility produces 85% of vehicle components in-house, a strategic advantage in an era of global supply chain instability.

Future Trajectory of Responsive Space Systems

Firefly’s success underscores the irreversible shift toward hybrid space architectures. The upcoming Blue Ghost Mission 2 will test long-duration operations on the lunar far side, pushing the boundaries of autonomous systems in extreme environments.

As the Space Force establishes its Commercial Space Reserve program, providers like Firefly will form the backbone of surge capacity for conflict scenarios. This paradigm demands continuous technological evolution, with next-generation vehicles already incorporating AI-driven autonomy and in-space servicing capabilities.

FAQ

What makes Elytra different from traditional satellites?
Elytra’s modular design and high delta-V propulsion enable mission reconfiguration and orbital adjustments unavailable to conventional satellites.

How does responsive launch benefit national security?
Rapid deployment capabilities prevent adversaries from predicting or countering space assets, maintaining strategic surprise.

What’s next for Firefly’s lunar program?
Mission 2 in 2025 will deploy European Space Agency instruments to study lunar volcanic features, expanding international collaboration.

Sources:
Yahoo Finance,
Firefly Aerospace,
GlobeNewswire