Lilium N.V.
OTCPK:LILM.F
€
0,00
€
€0,00 (0,00%)
0,00
€
€0,00 (0,00%)
End-of-day quote: 03/23/2026
Lilium N.V. Stock Value
Configure Widget
X
Create Widget
Not an affiliate? https://growth-software.de/partnerprogramm/
Widget copied to clipboard.
Lilium N.V. Company Info
EPS Growth 5Y
30,99%
Market Cap
€0,00 B
Long-Term Debt
€0,00 B
Quarterly earnings
05/23/2026 (E)
Dividend
€0,00
Dividend Yield
0,00%
Founded
2015
Industry
Country
Website
ISIN Number
Website
Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.
There are currently no price targets available for this stock.
In the last five quarters, Lilium N.V.’s Price Target has risen from €0,70 to €0,70 - a 0,00% increase. One analysts predict that Lilium N.V.’s share price will increase in the coming year, reaching €0,00. This would represent an increase of 0,00%.
Top growth stocks in the industrials sector (5Y.)
What does Lilium N.V. do?
Lilium N.V. (Lilium) is a next-generation aviation company.
The company is focused on developing an electric vertical take-off and landing (‘eVTOL’) aircraft for use in a new type of high-speed air transport system for people and goods—one that would (i) offer increased connectivity for communities around the world, as well as generate time savings to travelers, (ii) be easily accessible from Vertiports close to homes and workplaces, (iii) be affordable for a large part of the population, and (...
Lilium N.V. (Lilium) is a next-generation aviation company.
The company is focused on developing an electric vertical take-off and landing (‘eVTOL’) aircraft for use in a new type of high-speed air transport system for people and goods—one that would (i) offer increased connectivity for communities around the world, as well as generate time savings to travelers, (ii) be easily accessible from Vertiports close to homes and workplaces, (iii) be affordable for a large part of the population, and (iv) be more environmentally sustainable than current regional air transportation.
The products the company is developing are fully electric jet aircraft that can take off and land vertically with low noise. The company’s objective is for the Lilium Jet to be the basis for sustainable, high-speed regional air mobility (‘RAM’) networks, which refers to networks that will connect communities and locales within a region directly with one another. Such networks will require less infrastructure than traditional airports or railway lines and a fully electric jet aircraft would produce minimal operating emissions. The company expects its Lilium Jets will generate zero operating emissions during flight. A single trip might save hours for a traveler; in aggregate, these networks could save the company’s societies millions of travel hours—and significant carbon emissions—each year.
The company’s development efforts are focused on finalizing the detailed design for the Lilium Jet, ongoing certification process for the Lilium Jet with EASA and the FAA, focusing on quality, compliant and on time deliveries from suppliers, and building out the company’s manufacturing capacity. The company plans to rely on two business models. First, the company intends to target general business aviation customers as a business line that the company intends to deploy in tailored offerings primarily with the company’s four-seater Lilium Jet aircraft through private or fractional ownership sales along with related aftermarket services. Second, the company plans to provide a turnkey enterprise solution by selling fleets of four- and six-seater Lilium Jet models, and related aftermarket services, directly to aircraft operators and other commercial customers.
As part of the company’s business strategy, the company continues to evaluate capital raising and strategic opportunities from and with a number of sources, including private investors, strategic partners, business counterparties and government sources. Such opportunities could include joint ventures and strategic partnerships. The company may enter into non-binding letters of intent as the company assesses the commercial appeal of potential transactions. Any potential transactions could be material to the company’s business, financial condition and operating results and may involve the issuance of additional Class A Shares and other securities.
The Lilium Jet architecture is based on the company’s proprietary Ducted Electric Vectored Thrust (‘DEVT’) technology, which has been developed and rigorously tested over the last several years. While the majority of the company’s eVTOL competitors leverage open rotor engines, which are based on unducted, counter rotating propeller blades that can have a higher noise profile, DEVT consists of quiet electric turbofans mounted within a cylindrical duct. The company intends for the Lilium Jet to have low take-off and landing noise and are designing the Lilium Jet to be virtually inaudible from the ground during cruise flight. DEVT offers a number of fundamental advantages over open propeller eVTOL architectures, including higher payload potential, better efficiency, lower operating cost, superior safety, the highest market acceptance and penetration for ducted fans in commercial aviation and potential scalability to larger aircraft in the future.
These technology advantages will enable the company’s regional shuttle service model to carry more passengers (or cargo) per Lilium Jet on longer (regional) trips than open propeller eVTOL aircraft. The company is developing a lineup of Lilium Jets, including prospective four and six passenger models, that will be based on the same modular architecture but have distinct specifications and design targets based on their expected commercial use. The Lilium Jet is being designed to be a piloted aircraft with the potential to be an autonomous aircraft in the future. The combination of longer average trip lengths and the company’s anticipated passenger and cargo capacity for the company’s lineup of Lilium Jets (depending on model) will provide greater time savings to customers and more competitive pricing as compared to open propeller eVTOL architecture. The company’s technology would allow the company to create a larger version of the Lilium Jet in the future based on similar architecture as well as be utilized on aircrafts with differing architecture, e.g., conventional take-off and landing aircraft. However, the company’s design activities remain in process, and there can be no assurances that such a larger aircraft will be developed or the timing thereof.
High-speed RAM networks will significantly change the economic calculus of passengers and businesses shipping goods when making transportation and shipping decisions, respectively. The company estimates that its Lilium Jets will be able to move people and goods significantly faster than road and rail transport and that eVTOL networks could be significantly less costly and much faster to deploy than equivalent high-speed rail infrastructure and considerably more adaptable to shifting passenger demand.
The company applied for Type Certification with EASA, its primary airworthiness authority, in 2017 and for concurrent Type Certification validation with the FAA in 2018. Receiving a Type Certificate in accordance with stated regulatory standards will certify compliance to the applicable airworthiness standards for the Lilium Jet, which is a necessary prerequisite to undertaking commercial operations. In 2020 and 2023, the Lilium Jet received the CRI A-01 certification basis from EASA and the G-1 certification basis from the FAA, respectively, setting forth a set of performance based airworthiness requirements the company has agreed with the regulators in Europe and the U.S. for the Lilium Jet. As of December 31, 2023, the company was the only eVTOL manufacturer with both an EASA and FAA certification basis for a powered lift eVTOL.
The company anticipates that EASA will formally agree to accept the company’s certification program, including the balance of the company’s MoCs and Certification Plans following the conclusion of the company’s CDR. Based on the current status of the company’s design activities and the company’s discussions with regulators and suppliers, as well as current supply chain dynamics, the company expects the Lilium Jet to enter service in 2026 after the Type Certification is obtained. Type Certification of the novel Lilium Jet remains subject to the completion of certification activities, and the company could experience delays in the event of additional or changing regulatory requirements or unexpected testing or analysis required by regulators. In November 2023, the company received the DOA from EASA, which confirms that the company has the organization, procedures, competencies, resources, and demonstrated rigor required to certify aircraft according to EASA’s high safety standards.
Achieving EASA certification will allow the company’s Lilium Jets to operate in Europe and many other countries where the national civil aviation authorities currently recognize EASA certification (examples may, but are not guaranteed, to include certain countries within the Middle East, Southeast Asia and major parts of Central and South America). The national civil aviation authorities of these countries would accept a Type Certificate from EASA; however, the company cannot assure that this will be the case, and the actual acceptance is dependent on the authorities’ review when the Type Certificate is presented. Additionally, certain other countries have bilateral agreements in place with EASA, including technical implementation procedures to validate an EASA Type Certificate. These countries include Japan, Canada, China and Brazil, for which some additional validation work may be required.
The company has in place an approximately 175,000 square foot manufacturing and testing facility at the Oberpfaffenhofen airfield at the company’s headquarters near Munich, Germany. The company expects this facility will house its initial serial aircraft production, including the manufacturing of the proprietary propulsion and energy systems and the final assembly of the serial aircraft. Major aircraft sub-systems and components are outsourced to Tier 1 aerospace suppliers, such as Diehl Aviation, L3 Harris, Ratier Figeac (Collins Aerospace Group), Aernnova, Aciturri Aeronáutica, DENSO, Expliseat, GKN Aerospace, Honeywell Aerospace, Astronics, Michelin, SKF, Saint-Gobain Aerospace, and Magnaghi Aeronautica.
In 2018, the company’s application for Type Certification of the serial aircraft was accepted by EASA and the FAA, and the company subsequently started the development program for the company’s serial aircraft based on the technologies developed and refined over the previous generation of aircraft demonstrators.
The first manned flight test of the Lilium Jet is targeted to occur in late 2024 with the Lilium Jet targeted to enter service in 2026 after the Type Certification is obtained.
Lilium Jet
The Lilium Jet is designed to meet the requirements of high-speed regional air mobility. The company has developed a next-generation aircraft architecture based on the combination of DEVT with a fixed-wing aircraft configuration. The company’s unmanned technology demonstrators, Phoenix 2 and 3, have performed a significant number of aircraft tests, which demonstrate the performance benefits of the company’s DEVT technology. The Lilium Jet will be a piloted aircraft designed from the ground up using the same underlying technologies as the Phoenix demonstrator and optimized for speed, range, passenger comfort, low noise, safety, zero operating emissions and simplicity. Due to the architectural resemblance, many performance parameters of the serial, conforming aircraft can be predicted from the Phoenix demonstrators. The company is designing the Lilium Jet in accordance with the strictest aerospace standards and guidelines established by the relevant regulatory authorities and consistent with leading original equipment manufacturers’ (‘OEMs’) commercial aerospace programs. The cabin configuration the company launches at entry-into-service will be determined by final customer needs, regulatory requirements and the performance characteristics of the certified aircraft. However, the company expects its aircraft architecture will ultimately allow for: (i) a premium four-passenger ‘club cabin’ configuration, (ii) a six-passenger shuttle cabin configuration, (iii) an air ambulance configuration, and (iv) a cargo cabin configuration.
In the second quarter of 2022, Phoenix 2 achieved an industry first for an electric jet aircraft, performing full transition from hover to wing-borne flight on both the main and canard wings at an airspeed of approximately 100 kts at the company’s test facility in Atlas, Spain. Transition represents the technically challenging phase for eVTOL aircraft between powered vertical lift and the highly efficient wing-borne lift. In December 2022, Phoenix 2 achieved a new top speed of 222 kilometers per hour, performing transition in straight and level flight conditions. In March 2023, Phoenix 2 reached its intended maximum cruise speed of 136 knots (250 kilometers per hour) during a test flight. An additional demonstrator aircraft, Phoenix 3, arrived at the company’s test facility in Atlas, Spain and began supporting flight testing activities in the second quarter of 2023.
Based on current development status, the company is targeting for the Lilium Jet to achieve a cruise speed of 250 kilometers per hour (assuming flight at 10,000 feet), a physical aircraft range of 250 kilometers (including reserves) and an operating range at full payload (excluding reserves) of 175 kilometers. The company expects this range could continue to improve as battery performance improves over time, and based on the company’s current estimates and analyses, the company projects that the operating range of the Lilium Jet could increase to 275 kilometers by 2030, 400 kilometers by 2035 and 480 kilometers by 2040.
The company’s ultimate intention is to achieve annual production capacity of up to approximately 400 Lilium Jets at the company’s headquarters facility. To keep the initial investment low and production flexible, the company plans to use a balanced approach of adequate automation and manual assembly for high volume operations and aircraft production. This includes employing a digital planning and execution approach throughout the internal production lifecycle, utilizing, to the highest extent where possible, electric-powered machinery and equipment.
In December 2022, the company launched the Lilium Pioneer Edition Jet for sale to private individuals. This limited edition comes with a compelling service, support and training package, as well as customizable options for the cabin configuration and exclusive fabrics, materials, and external livery. The Lilium Pioneer Edition is limited to a total of 50 aircraft with targeted pre-delivery payments of at least 50% of the purchase price prior to delivery. At the end of February 2024, Lilium has signed: (a) binding contracts reserving production slots for 21 Lilium Pioneer Edition Jets, with all such contracts providing for pre-delivery payments; (b) binding purchase contracts for the sale of 15 Lilium Pioneer Edition Jets, with all such contracts providing for pre-delivery payments; and (c) binding contracts providing for the option to reserve further production slots for up to six Lilium Pioneer Edition Jets, with all such contracts providing for pre-delivery payments.
Aircraft Architecture & Engines
The jet architecture is based on a canard aircraft concept in which 30 electric ducted fans are distributed and embedded in the rear of four fixed wings (two canards (front) and two main wings). The propulsion system is based on electric ducted fans with a standard single compressor stage, which provides a significant efficiency advantage over open rotor propulsion by reducing blade tip losses, guiding the flow more effectively and removing nozzle exit swirl due to an installed stator. A ducted fan requires a roughly 10 – 15 times smaller surface area to lift the same weight as an open propeller system (i.e., the footprint of such a configuration is smaller for the same weight of aircraft). As a result, the Lilium Jet architecture allows the company to build larger aircraft with more payload than open propeller systems (for a given ground footprint and noise level), which in turn should drive higher unit economics per jet within the same infrastructure. This ability to scale is not possible with open rotors aircraft, since increasing payload translates into either significant and non-mitigatable noise challenges or increased rotor area and overall span, thus exceeding standard helipads.
The Lilium Jet is a fixed wing aircraft, which makes it efficient in cruise flight, similar to commercial airliners. The two main wings, two fixed canard (front wings) and the aerodynamic design of the fuselage contribute significantly to the overall cruise efficiency, providing all the lift to support the weight of the aircraft during horizontal cruise flight. Since the small-sized engines will be embedded into the wings of the aircraft, the wetted area is significantly reduced, which decreases drag further during cruise flight. Subsequently, the power consumption in cruise flight is projected to be around only 10% of the hover flight power consumption.
The Lilium Jet is expected to consume more energy in low speed flight than in a cruise flight. However, the company estimates that the associated increase in energy consumption in low speed flight would generally only be a fraction of the overall mission energy budget as for regional service. The company aims for less than 60 seconds per mission in the low speed flight phase, and the company’s cruise time is anticipated to be approximately 30 minutes for a flight distance of 175 kilometers.
The Lilium Jet design also features a traditional landing gear, giving pilots a backup option of a short running landing, alongside the standard vertical landing. Under the company’s anticipated aircraft operational regulations, at any point prior to starting a vertical landing, the Lilium Jet will have sufficient energy reserves to divert to an alternate landing site and perform a very short running landing. The much lower power demand of this running landing allows more cell energy to be accessed than would otherwise be possible with the higher power vertical landing. Integrating forward landing capability will also give the company’s customers additional reassurance of safety, flexibility and operating range.
The Lilium Jet has an intrinsically simple design. With 30 single-stage electric engines (nine on each of the main wings and six on each of the forward canard wings) providing vectored thrust for controlled flight throughout the mission envelope, aerodynamic control surfaces, such as rudders, flaps, spoilers, airbrakes, or ailerons, are obsolete. The company’s Lilium Jet also eliminates the variable blade pitch, oil circuits for hydraulics and gearboxes found on a traditional aircraft or helicopters. These design improvements make the Lilium Jet simpler and faster to design, and the Lilium Jet’s fewer parts will translate to higher reliability, less maintenance and lower operating costs.
The key to obtaining a quiet aircraft is the propulsion system. The company estimates that the Lilium Jet will have low take-off noise, while effectively being inaudible from the ground during cruise flight. The ducts themselves contain the noise naturally and avoid propagation in the far field, compared to the spherical propagation of open rotors. The noise level will be reduced further in the ducts by making use of acoustic liners, which absorb the noise specifically generated by the fan’s blades.
Another area of innovation in the company’s engines is a light pivoting mechanism with custom actuator and variable nozzle coupled to the engine angle. This enables optimal engine efficiency in cruise flight and hover flight.
Battery System
The battery system is an important component of the Lilium Jet.
The Lilium Jet’s engines are designed to be powered by a proprietary battery system, which is being developed by the company in collaboration with third parties based on large format lithium-ion pouch batteries. The company has selected a battery cell chemistry based on a silicon-dominant anode combined with conventional NMC (Nickel, Manganese and Cobalt) cathodes and electrolytes. This combination offers the best compromise of energy and power density at a low state of charge (‘SoC,’ the level of an electric battery’s charge relative to its capacity), which determines the effective usable battery capacity. The majority of battery cell production steps should be on standard lithium-ion pouch cell production lines. The company has invested in Ionblox, Inc. (formerly Zenlabs Energy, Inc.), a leading battery technology supplier, for this chemistry, exclusive to Lilium for use in regional commercial eVTOL applications for ranges of more than approximately 31 miles until 2027, and have partnerships with CUSTOMCELLS and InoBat to industrialize and produce the battery cells for Lilium.
External testing data and in-house measurements of the pouch cells have yielded density levels that the company project to enable the intended operating aircraft range of up to 175 kilometers (our maximum target at entry into service). This prediction is based on the company’s testing and simulation of engine efficiency, as well as on well-known and standard prediction methods for aircraft design for batteries, engines, motors and other components of the aircraft. The company anticipates energy density levels and power levels at low SoC to further improve, which will improve the operating range of the company’s Lilium Jet as these improvements occur.
The company anticipates that the battery should provide a sufficient cycle life. The company is continuing to test and optimize the cycle life of the prototype cell being designed for the Lilium Jet with such full-size prototype battery cells having demonstrated 88% capacity retention after 800 cycles with 100% depth of charge and discharge (1C/1C cycles) in strenuous cycle life tests carried out by a third-party independent laboratory. Cost is another key factor within the operating economics of the company’s Lilium Jet. In terms of technology and production, the company’s cells will be produced at a premium over automotive batteries in order to meet the company’s stricter aerospace safety and performance requirements.
The company is targeting a battery system to be capable of fast charge, which is key to enable smooth operations and quick turnarounds. The company is working with leading suppliers for charging technology, such as Star Charge, using equipment based on established chargers initially developed for the electric car and trucking industry. The company intends to adopt the Combined Charging System (‘CCS’) standard, a direct current charging connector used for rapid charging, for charging the Lilium Jet, which appears to also have been adopted by multiple leading eVTOL OEMs. The company expects this will allow for interoperability of the Lilium Jet with industry standard chargers. In September 2023, the General Aviation Manufacturers Association published a report noting that shared, standardized charging infrastructure offers numerous benefits over multiple proprietary protocols developed by OEMs.
The company has partnered with Star Charge, a global leader in electric vehicle charging infrastructure and microgrid solutions, to develop, customize, and provide charging systems for the company’s Lilium Jets. Star Charge’s fast-charging system will be fully compatible with the Lilium Jet and other eVTOLs compatible with CCS. By using Star Charge’s CCS chargers, Lilium expects to reduce charging times significantly, in comparison to other chargers without liquid cooled charging cables. The company expects reduced charging times will support reduced turnaround times between flights and provide higher utilization of the Lilium Jet.
The company’s battery system design consists of multiple independent packs each built up of multiple modules, creating significant redundancy across the energy system as a whole. The company is designing the battery casing to protect against the effects of multiple-cell thermal runaway. When thermal runaway occurs in a module, it needs to be contained within the module, with the remaining modules and packs remaining unaffected to supply enough power and energy for continuous safe flight and landing. The company has successfully validated a battery system in the Phoenix technology demonstrator, incorporating many of the technologies of the company’s envisioned series solution. The company continues to conduct technology development and demonstrations to determine the most appropriate technology for the Lilium Jet. The challenges and risks intrinsic in refining the company’s battery system may take longer or be more difficult or costly than the company anticipate. The full battery and energy management system will be certified as a part of the aircraft certification process and will undergo rigorous testing to prove compliance with the requirements set by the authorities. The company is developing the battery pack design and energy management in-house as part of its core technology, while the company works with third parties on the design of the battery cells and some components of the energy management system.
Flight Physics and Flight Control Systems
The Lilium Jet’s 30 engines are mounted on individually controllable flaps. The flaps are not only used for lift generation during vertical take-off and landing, and thrust generation in cruise, but also to control each axis of the jet via thrust vectoring throughout the entire flight. The flaps make the flight control system efficient and, due to the amount of thrust required for vertical take-off, leads to high control authority for all the different flight phases. The flaps, which only receive two signals (engine speed and flap angle), are the only actuators required by the flight control system and therefore avoid traditional control surfaces like ailerons, elevators or rudders. For vertical take-off and landing, the flaps are all pointed downwards in a vertical position and after approximately ten seconds of hover flight, when the jet reaches the initial altitude, they slowly transition into a horizontal position and thereby accelerate the aircraft forward. In cruise flight, all the aerodynamic lift is generated by the standard lifting surfaces (i.e., the wings, including the flaps) and the main body. During landing, the flaps transition back into the vertical position.
Having a high number of independent flaps makes the flight control system highly redundant. If a flap fails, the flight control system’s health monitoring detects the failed flap and redistributes the thrust to stabilize the jet, avoiding large altitude or angle transients. Another advantage of the design is that air is drawn in over the wing, creating a ‘high lift’ system at low speeds, so that the jet can be efficiently controlled at low forward speeds required for final approaches and with less than half of the power consumption expected to be required in hover flight.
The company has designed in-house all the core elements of its flight control system, the flight control laws and redundancy management algorithms. The company has developed and tested the flight control software on the flight dynamics model in simulations, allowing the company to predict and tune how the jet will behave in flight test. This simulation-based development approach, including the company’s flight dynamics model, also called a ‘Digital Twin’ of the company’s aircraft, incorporates the full aerodynamic data bank, the engine deck, battery and power models and dynamic models for all actuators and sensors. The ‘Digital Twin’ allows the company to assess the jet’s performance long before flight testing, which enables the company to make critical decisions within days compared to weeks of real-life testing.
The ‘Digital Twin’ flight dynamics model is also used in a series of in-house-developed simulators. Some of these simulators feature a virtual and mixed reality interface, which are head mounted displays, that are used for pilot assessments on handling qualities, cockpit layout or procedures.
In addition to simulations on the ‘Digital Twin’, the company is running extensive test campaigns on its Phoenix technology demonstrators, as well as wind tunnel tests, the results of which will be correlated into the company’s simulation models.
Other simulators are used for remote pilot training as part of the flight testing for the company’s Phoenix technology demonstrators.
In September 2022, the company achieved full transition from hover to wing-borne flight on both the main and canard wings. Transition represents the important, and technically challenging, phase between vertical lift and the highly efficient wing-borne lift. Transition happened precisely where the company’s flight physics computer models predicted it would. The company has developed its aircraft using sophisticated computer models to predict the behavior of the aircraft through each critical phase and under various failure scenarios. These models allowed the company to develop and evaluate the Lilium Jet’s unique architecture much faster and with greater confidence than traditional techniques would permit.
The company has also developed and are continuously improving an integrated software development and verification framework that fully utilizes automation and enables the execution of full-code-coverage software testing in a short time. The software lifecycle process supported by this framework is subject to EASA audits and will be fully DO-178C compliant, to enable the development of safety critical DAL-A flight software.
The company considers its flight dynamics model and simulators, as well as the company’s software development framework, to be important trade secrets given the high degree of proprietary knowledge that has been generated over the past five years and specifically tailored for the company’s Lilium Jet configuration.
Safety and Performance
The safety, performance and reliability of the company’s Lilium Jets, as well as the credibility of the eVTOL industry generally, will be key factors in achieving customer acceptance of RAM.
The company designs all systems in accordance with the EASA certification requirements, which demand an aircraft-level safety standard of not more than 10E-9 failure conditions with catastrophic effect per flight hour. The EASA certification requirements presently represent the highest safety objectives globally for eVTOL aircraft. This corresponds to a maximum of one failure condition with catastrophic effect within every one billion flight hours, which is the same safety level applied to large commercial jets, such as the Boeing 777 or the Airbus A350. Similar to airliners, the Lilium Jet is also designed against the criterion of ‘no single failure resulting in catastrophic effect,’ a standard that is typically not applicable to traditional VTOL aircraft, such as helicopters. The company verifies all safety measures in accordance with the means of compliance agreed with the regulating authorities.
The company plans to achieve its safety standards in many cases through systems redundancy. For example, the Lilium Jet can lose two battery packs or multiple engines and still implement a vertical landing because the Lilium Jet will have multiple redundant battery packs that work in parallel to supply the required power, as well as 30 independent ducted fan engines. The engines can contain blade-loss and other rotor failures within the engine ducts without damaging parts of the airframe. All avionics, engine controllers, battery management and other complex electronics are based on dissimilar and redundant architectures.
The aircraft will be initially certified for Visual Flight Rule conditions, which means that a pilot operates an aircraft in weather conditions generally clear enough to allow the pilot to see where the aircraft is going. The company intends to apply to extend its certification to Instrument Flight Rules all-weather capabilities soon after launch, although no assurances can be given as to timing.
Intellectual Property
The company has two granted patents in the U.S. and two granted patents in Germany covering the multi-wing aircraft architecture engine arrangement. Further, to protect the appearance of the Lilium Jet, the company registered two sets of design patents.
As of the end of February 2024, the company had been granted 19 patents by the European Patent Office (the ‘EPO’), German Patent and Trademark Office (‘DPMA’) and United States Patent and Trademark Office (‘USPTO’) protecting among others the company’s unique energy managements system and power architecture. Also, as of the end of February 2024, the company had filed a total of 106 patent families (first filings). To help secure and protect the company’s core technology and intellectual property globally, the company files many of these patent applications in other jurisdictions, such as the U.S., China, Brazil, India, Republic of Korea, and Japan. In total, as of the end of February 2024, the company had filed 285 patent applications of which 188 have been published.
Research and Development
The company’s research and development expenses were €183.8 million for the year ended December 31, 2023.
Aircraft Program
The company’s serial aircraft certification application was accepted by EASA and the FAA in 2018. From 2019, following publication by EASA of the design requirements the company must satisfy, the company had sufficient clarity on the eventual certification requirements to move ahead with the company’s serial aircraft development program.
The company’s development program follows the rigorous, industry-standard process with maturity gates in each phase following a typical ‘V-model’ Validation and Verification process. This industry-standard process means that requirements are validated down to the jet’s component levels. Then, through the design, build and test phases, the company’s final product is verified with a program of analysis, ground and flight testing, pre-agreed with the company’s EASA and FAA regulators to ensure that these requirements have been satisfied and can be demonstrated to the regulators’ satisfaction. The company’s program builds upon the extensive technology development work undertaken since 2015, including several generations of demonstrator aircraft and related flight testing.
The company invested significant focus and efforts into the preliminary design phase, based upon the intended aircraft architecture and design, to mature the technology through extensive testing and prototyping. The company performed a rigorous PDR and started releasing design data to the company’s aerospace supply chain in 2022. PDR consisted of a comprehensive series of technical reviews to assess whether the aircraft architecture would meet airworthiness requirements, deliver the performance requirements assumed in the business case and be produced at the appropriate quality levels and rates. Completion of the PDR gives the green light for engineering to finalize detailed designs and for procurement to ramp up supplier contracting and launch design and development work in the supply chain. The company plans to leverage its supply chain’s capabilities both for the development program and to facilitate a rapid transition into volume production once the company has received Type Certification. The company is also working to confirm the airworthiness demonstration requirements (Means of Compliance and Certification Plans) to be agreed with the airworthiness authorities (e.g., EASA), which will help the company to de-risk its program up-front.
The company commenced CDR in 2023 and will continue to evaluate the company’s overall program and launch timeline. Going from PDR to CDR means developing further the detailed design ahead of first production of the Lilium Jet, making key detailed technical trade-off decisions and understanding how these will impact the key attributes of the aircraft program, such as schedule, cost, performance and weight. CDR demonstrates that the design is mature enough to be manufactured, assembled, integrated and tested with Type Certification as a goal.
Vertiports
The company intends to work with infrastructure developers and operators to build and operate Vertiports for the Lilium Jet. In Florida, the company’s target is for the development of a Vertiport network across the major urban centers in southern and central Florida. All the company’s networks are intended to be built around the principle of working with other companies that will develop, own and operate the infrastructure. The company’s business model contemplates that the company will work with infrastructure developers to establish new Vertiports or retrofit existing aerodromes to be fit-for-purpose, in which Lilium Jet operators plan to reimburse them for the development costs through a combination of lease payments and activity-based fees. The company anticipates that some of the Vertiports in its proposed network may be exclusive to the Lilium Jet or operators of the Lilium Jet, while others will be utilized by various eVTOL and helicopter models. When the company’s partners develop Vertiports, they work with: (a) landowners, who can provide access to buildings (such as parking garages, vacant lots and commercial loading depots); (b) infrastructure developers, who will provide financing, permits and build the infrastructure; and (c) ground service providers, who will work with their team to operate the facilities and ensure the safe and comfortable operation of Lilium Jets, including the rapid turnaround of passenger and goods services.
The company shares the Lilium Jet’s specifications with airport operators and vertiport developers to continually collaborate with and advocate for these Vertiports to be tailored to environments and specification suitable for the Lilium Jet.
Florida Network
Based on the company’s understanding of where the Lilium Jet will provide the most benefit for the company’s intended customers, the company determined that laying the groundwork for a Florida Network would help increase sales of the Lilium Jet.
In November 2020, the company signed an agreement with infrastructure development company Tavistock Acquisitions, LLC (‘Tavistock’), to build a Vertiport in Tavistock’s upscale mixed-use community of Lake Nona, Florida which is part of the Orlando International Airport (‘MCO’) Aerotropolis, and a short distance from Orlando’s many attractions, including Walt Disney World and Universal Orlando Resort. The company has continued to engage with the MCO, Tavistock and the City of Orlando. As the partners engaged in the work to bring the first full-scale eVTOL vertiport to fruition, all parties agreed that the best location would be a vertiport on MCO’s airport property. In February 2024, Lilium announced its designation of the future MCO vertiport as a network hub for Lilium Jet operators in central Florida. MCO remains more advanced in their planning for eVTOL operations than any other U.S. major hub airport.
The building and operating of Vertiports near popular destinations will allow for the establishment eVTOL services between the cities of Tampa, St. Petersburg and the Space Coast. The MCO Vertiport is intended to be one of the first in a network of Vertiports connecting popular destinations and airports throughout Florida.
The company has entered into an agreement with global infrastructure developer and operator Ferrovial setting out a framework to build a network of Vertiports across Florida, enabling a rollout of high-speed RAM. Furthermore, with Ferrovial conducting ground operations at these sites, the company would have an operations leader with significant experience in aviation operations, with more than 20 years investing, developing and operating in the airport sector, including managing airports, such as Heathrow in London. In late 2021, Palm Beach County approved the lease agreement for a Vertiport to be built by Ferrovial at Palm Beach International Airport for the use of operators of the Lilium Jet. Ferrovial continues to sign leases for vertiport development across the state of Florida in effort to ensure infrastructure readiness for the Lilium Jet.
UrbanV Vertiports
In June 2023, the company announced a partnership with UrbanV, a leader in vertiport design and management, for the development of Vertiport infrastructure. The partnership will enable eVTOL networks for the Lilium Jet with an initial focus on Italy and the French Riviera, where UrbanV expects to launch its operations, with potential for further markets in the future. Such infrastructure is meant to enable the first eVTOL routes. The company expects to benefit from UrbanV’s strong foothold and key airport access across Italy and the French Riviera.
Further Global Vertiport Opportunities
The company is continuously working with airport operators and vertiport developers to conduct scoping studies and exploring the business case for building Vertiports globally, focusing on regions where eVTOL adoption will be prevalent.
Vendors and Suppliers
The company has signed supply agreements with: (a) Toray Industries, the world’s leading manufacturer of carbon fiber, for the supply of higher performance carbon fiber composite; (b) Aciturri Aeronáutica, a leading global manufacturer of aerostructures and aero engine components, to build the airframe of the Lilium Jet; and (c) Honeywell Aerospace, a leading technology company providing aerospace products and services, for the development, design and manufacture of the company’s avionics system. Additionally, the company has a partnership with Honeywell Aerospace and DENSO to co-develop and manufacture the electric motor for the company’s Lilium Jet and also selected Aernnova to collaborate on and supply components for the structures supporting the Lilium Jet’s propulsion system.
In 2023, more key partners joined the company’s aircraft program, including an agreement with DENSO for technical assistance in optimizing production at scale of the Lilium Jet’s revolutionary electric engine, and an agreement with Michelin for the design, serial production and support of the Lilium Jet’s tires.
For the battery cells to be used in the Lilium Jet, in July 2021, the company signed an agreement with CUSTOMCELLS to manufacture lithium-ion battery cell at scale for the Lilium Jet. Utilizing Lilium’s licensed technology, the company expects CUSTOMCELLS to industrialize battery cells for high-quality series production at its Tübingen, Germany location. In 2023, the company expanded its existing partnership with InoBat (supported by InoBat’s investor and partner Gotion High-Tech) and expect production of battery cells for the Lilium Jet to commence at its plants in Voderady, Slovakia, in 2024.
The company has an agreement with Palantir Technologies, Inc. for a Palantir Foundry cloud subscription that provides advanced data analytics capability, including support services, updates and related professional services.
Strategic Commercial Collaborations
As of December 31, 2023, Lilium had an order pipeline consisting of 42 binding orders (consisting of sales agreements, production slot reservations, and options for production slot reservations) in addition to potential sales of up to 690 Lilium Jets in the U.S., the U.K., Brazil, Spain, France, Italy, Benelux, Norway, the Kingdom of Saudi Arabia, Cyprus, Israel and the UAE.
In 2023, the company entered into dealership agreements regarding prospective sales of Lilium Jets by authorized dealers in certain markets, including with ArcosJet DMCC (regarding private sales in the UAE, Israel and Cyprus) and EMCJET (regarding private sales in the U.S.).
In December 2022, the company launched the Lilium Pioneer Edition Jet for sale to private individuals. In conjunction with the launch of the Pioneer Edition, the company signed a binding contract with eVolare, a subsidiary of Volare Aviation, one of the United Kingdom’s largest helicopter and private jet operators, for the sale of Lilium Pioneer Edition Jets in the U.K. With its base in Oxford, U.K., eVolare opens access to prime locations around the U.K., including London. In February 2024, the company extended its partnership with eVolare and entered into sale and purchase agreements for the purchase of four Lilium Pioneer Edition Jets with pre-delivery payments and expected deliveries starting in 2026 and for the commitment to constructing vertiports at priority sites in and around London. Additionally, in 2023, the company entered into binding contracts with ArcosJet for the purchase of ten Lilium Pioneer Edition Jets and with EMCJET for the reservation of the production slots for five Lilium Pioneer Edition Jets, with pre-delivery payments and expected deliveries starting in 2026.
In December 2023, the company signed an MOU with the Lufthansa Group to explore a strategic partnership on eVTOL aircraft operations in Europe, including identifying innovation opportunities in aviation, discussing areas such as ground and flight operations, future aircraft maintenance, as well as crewing and flight training.
In January 2024, the company announced a strategic collaboration with airport operator Fraport to explore required planning and approval steps for state-of-the-art infrastructure for the implementation of commercial eVTOL operations at airports. The partnership will start by preparing Germany and the industry for the introduction of regional electric air mobility through working with industry groups and the German government to jointly discuss and accelerate necessary regulatory work. Fraport and Lilium plan to analyze future mobility concepts for Vertiport networks that are suitable for electric aircraft. Fraport and Lilium will also examine how future Vertiport concepts for this type of mobility could look, especially at and around airports. The Fraport partnership will complement Lilium’s existing partnerships at airports across Germany including the airports of Stuttgart, Munich, Nuremberg, Cologne-Bonn and Düsseldorf.
Aftermarket Services and Maintenance Plans
The company has recently introduced the eVTOL industry’s first customer service organization, named ‘Lilium POWER-ON.’ The company’s customer service organization is intended to offer operators of the Lilium Jet the full aircraft manufacturer services portfolio, including training services, maintenance operations, material management and global distribution, flight operations support, ground service equipment, and digital solutions. The company’s success depends, in part, upon the company’s ability to service and maintain the global fleet of Lilium Jets. The company expects to rely on a combination of utilizing aftermarket material sales and service providers plus service offerings the company will develop in-house. With the company’s planned network of exclusive training, material distribution service providers, authorized service centers, and licensed ground support equipment providers, the company intends to control access to and use of its proprietary technology, thereby helping to insulate the company from unauthorized aftermarket competition. As the Lilium Jet enters into service and the global fleet size grows, the company expects material profit contribution in recurring revenue from the company’s aftermarket services business. The company estimates the services market for the Lilium Jet will reach at least $5 billion by 2035.
To support the company’s aftermarket services, the company signed an agreement with AJW Group, an independent aircraft component parts, repair, and supply chain solutions provider, to develop global material services and distribution to support the Lilium Jet’s global aircraft operations and the company’s aftermarket services business. The agreement provides that AJW Group will manage the company’s eVTOL spares inventory, serving as the exclusive parts distributor for the company’s worldwide customers, and provide warehouse and logistics services, repair and asset management.
The company also has agreements with ground support equipment suppliers whose equipment is designed to perform maintenance, ground operations, towing, charging (i.e., Star Charge), and other necessary activities.
The company intends to work with authorized aviation maintenance, repair and overhaul service providers (‘MROs’) to service and support the Lilium Jet. MROs provide the necessary repair, service, or inspection of an aircraft or aircraft component to ensure the safety and airworthiness of aircrafts. The company’s business model contemplates that the company will authorize and license these MROs to establish support networks to adequately cover all operating regions of the Lilium Jet. The company anticipates that some of the MROs in its planned network may be exclusive to the Lilium Jet, or they may be operators of the Lilium Jet who have fleets large enough to support the investment needed to provide in-house services and support for that operator’s Lilium Jets.
The company is internally developing the customer support and engineering solutions services to provide helpdesk, customer portal, account management and technical publications support for operators of the Lilium Jet. Additionally, the company expects to offer flight hour rate service contracts to cover the costs of maintenance and repair of covered systems (e.g., energy system and other rotables), and fee-based in-house digital solutions for aircraft health management.
The company is continuously working with aftermarket services and materials organizations to conduct scoping studies and to explore the business case for building a global support network for the Lilium Jet, focusing on regions where eVTOL adoption will be prevalent.
Software
The company is targeting to deliver the first Lilium Jets with certain software capabilities, including flight planning, flight data monitoring, and aircraft health management, among other capabilities.
Flight Crew and Maintenance Training
The company has entered into a framework services agreements with Lufthansa Aviation Training and FlightSafety International (‘FSI’) to develop educational materials to train pilots to operate and mechanics to maintain the Lilium Jet. Under the first phase of the program, the company intends to collaborate on the creation of a Lilium-specific type rating training course for qualified commercial pilots that is being developed specifically for the Lilium Jet. The company intends to design the materials and training to leverage technologies, including mixed and virtual reality, facilitating worldwide deployment of the course. The requirement for regular training to remain up to date on how to operate and maintain the Lilium Jet is an ongoing obligation of any operator or servicer of the Lilium Jet.
Additionally, the company intends to partner with flight operations service providers to license the use of the company’s proprietary information for the development of digital flight planning and electronic flight bags for use by pilots of the Lilium Jet.
Regulation
In June 2023, the FAA proposed a Special Federal Aviation Regulation (‘SFAR’) for pilot certification and operations for eVTOL aircraft, to which Lilium provided comments.
The company is designing and producing the Lilium Jet to industry aeronautical standards and applicable regulatory requirements. EASA, who is the company’s primary airworthiness authority, has been a pioneer of eVTOL standards, being the first aviation safety agency worldwide to develop and communicate a comprehensive ruleset for eVTOL aircraft.
The company is also pursuing concurrent certification of the Lilium Jet through validation of the Lilium Jet by the FAA under the provisions of the Bilateral Aviation Safety Agreement between the EU and U.S. (‘BASA’). The company applied for the Type Certification in 2017 and for concurrent FAA Type Certification validation in 2018 through provisions provided by the BASA. In 2018, both EASA and the FAA accepted the company’s application for certification, and the company has been in frequent interaction with both authorities since then. A multitude of general and technical familiarization activities have been performed to engage EASA and the FAA in the development of the Lilium Jet.
The company also initiated the process to obtain a Design Organization Approval (‘DOA’) issued by EASA for the design and certification of the Lilium Jet and a Production Organization Approval (‘POA’) issued by the German Aviation Authority (Luftfahrt-Bundesamt (LBA)) for the Lilium Jet’s manufacture.
In 2017, the DOA program was initiated with the Type Certification application. The company prepared and submitted all DOA processes for engineering and airworthiness certification to EASA for the initial investigation activity. The company started process roll-out, training and proper application in 2020 and performed the first comprehensive set of EASA on-site audits in 2021. In 2022 and 2023, Lilium successfully completed three further DOA audits with EASA that culminated in EASA awarding DOA to Lilium in November 2023.
As of December 31, 2023, the company was the only eVTOL manufacturer globally that is authorized to design and build under the SC-VTOL standard.
Marketing
The company’s marketing strategy is intended to build industry and consumer readiness for the company’s technology and services. Short term, the company plans to develop industry credibility and recruiting success by establishing Lilium as a front-runner in electric aerospace. Longer term, the company plans to build affinity by developing a purpose-based product experience that will be rooted in social and environmental responsibility and customer centricity. The company will articulate its areas of value and differentiation through educational and customer outreach campaigns. The company intends to attract, retain and scale customers in preparation for the company’s initial commercial launch by focusing on the customer journey, being transparent and factual about the company’s technological and commercial progress and the overall benefits of the company’s service to society and the environment. The company’s marketing strategy will be supported through marketing campaigns on the company’s website, through content marketing channels, social media platforms and thought leadership arenas. Communications will be a critical part of the company’s strategy, as the company clearly explains its business case and commercial operating model through interviews, podcasts, social media posts and engagement, press releases and events to build awareness and positive perception.
Competition
Joby Aviation is one of the company’s competitors.
History
Lilium N.V. was founded in 2015. The company was incorporated in 2015.
This stock is not included in this month's Starter.
The Starter plan only unlocks analyses for the 25 stocks tracked over the past month. With the Compact plan, you get access to all stocks from Germany and the USA – with Premium, worldwide access.
Stock added to your portfolio . To add it to another portfolio, click here.
