FREE RESEARCH REPORT
OCT 2026
NASDAQ: HOVR
Vertical Lift. Regional Range. $93m Cap.
Horizon Aircraft is building a seven-seat hybrid-electric aircraft that takes off like a helicopter and flies like a plane. The market values it at a fraction of Joby and Archer. Our free overview breaks down why — and what could change it.
The bet
Everyone Built
An Air Taxi.
eVTOL sector market capitalization. Some of the discount is earned — the leaders have raised billions and logged real flight hours. The report covers why some of it may not be.
The gap
Find Horizon
On This Chart.
For five years the eVTOL industry chased the same short-hop urban vision. Horizon designed for a different mission entirely — and several peers are now developing hybrid versions of their own aircraft.
Joby
JOBY
$4.56B
BETA
BETA
$4.13B
Archer
ACHR
$3.14B
Eve
EVEX
$498M
EHang
EH
$287M
Horizon
HOVR
$93M
Vertical
EVTL
$62M
Source: StockAnalysis; Stock Sharks calculations. Market caps as of the October 14, 2026 close.
Enterprise value
~$43M
What's left after cash: the value the market assigns to the X7 program, its patents, two prototypes in build and a reported $1B+ LOI pipeline.
Market cap
~$93M
Cash
>C$70M (~US$51M)
Debt
Negligible
Runway
~24 months
FAN-IN-WING
PATENTED
How it flies
Helicopter Up.
Airplane Across.
Lift
The wings open to reveal 12 electric lift fans. The aircraft rises vertically — no runway required.
Transition
At altitude the wings close over the fans and the X7 shifts into conventional forward flight.
Cruise
A Pratt & Whitney PT6A turbine-powered generator drives forward flight and recharges the batteries in the air.
Not just renders
It Has Already
Flown.
Horizon's large-scale prototype has completed hover, forward flight and transition between the two. The full-scale X7 is the next step.
May 2025
Large-scale prototype completes transition from vertical to wing-borne flight.
30%
Share of lift fans disabled while the prototype still held a hover, per the company.
12
Electric lift fans hidden inside the wings and canards once the X7 is cruising.
Images: Horizon Aircraft large-scale prototype. Figures as reported by the company.
Missions
Built For Jobs
Helicopters Do Today.
Mission-driven markets funded by defense, healthcare and government budgets — not discretionary consumer rides.
M-01
Defense
Medevac, reconnaissance, light logistics and special operations support.
M-02
Medical transport
Long-distance patient transfers in rural and remote regions.
M-03
Search & rescue
Coast guard, mountain rescue and disaster response without a runway.
M-04
Regional travel
Intercity business routes too long for battery-only aircraft.
Flight plan
The Catalysts
Are Dated.
Jul–Sep 2026
Pipeline Builds
V-Star Australia LOI; Great Lakes Helicopter agreement.
Oct 2026
Prototypes In Build
Two full-scale prototypes. >C$70M cash.
End Q1 2027
Full-scale Demonstrator
Targeted completion.
2027
Flight Testing
Conventional takeoff first, then vertical.
Early 2030
Type Certification
Targeted with Transport Canada. Not guaranteed.
Advanced air mobility
October 2026
Company overview
Horizon Aircraft
NASDAQ: HOVR
A hybrid-electric bet on regional air mobility.
The report
Both Sides.
One Report.
01
Investment thesis
Thesis
02
Valuation vs. seven sector peers
Comps
03
Fan-in-wing technology
Tech
04
$1B+ LOI pipeline, read honestly
Pipeline
05
Balance sheet & catalyst calendar
Numbers
▲ Upside
Differentiated aircraft, ~24 months of runway and a pipeline large relative to enterprise value.
▼ Risk
Pre-revenue, non-binding LOIs, financing overhang and a beta near 3.8.
FAQ
Before You
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Yes. The report is published as part of a paid media partnership between Stock Sharks Research and Horizon Aircraft — which is why it lays out the risks alongside the opportunity. Full disclosure is below.
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FREE REPORT
NASDAQ: HOVR
The
Market
Priced It
At $93m.
Decide For
Yourself.
Valuation, pipeline and every dated catalyst in one free report.
Paid media partnership. This page and the accompanying report are published as part of a paid media partnership between Stock Sharks Research and Horizon Aircraft Inc. (NASDAQ: HOVR).
[COMPENSATION: insert the amount and form of compensation received or to be received from Horizon Aircraft, per Section 17(b) of the Securities Act of 1933.]
Not investment advice. All content is for informational and educational purposes only and is not a recommendation or solicitation to buy or sell any security. Stock Sharks Research is a financial publishing service and is not a registered investment adviser or broker-dealer. Investing involves risk, including possible loss of principal. Past performance is not indicative of future results.
Data. Market data as of the October 14, 2026 close, from public sources believed reliable. Company figures as reported by Horizon Aircraft. Cavorite X7 performance figures are design targets and have not been flight-tested; peer figures are manufacturer-claimed and approximate. Letters of intent are non-binding and do not represent contracted revenue. Aircraft imagery courtesy of Horizon Aircraft. © 2026 Stock Sharks Research.
