New Horizon Aircraft Ltd.

New Horizon Aircraft Ltd. is an advanced aerospace Original Equipment Manufacturer (OEM) that designs and builds a next-generation hybrid-electric Vertical Takeoff and Landing (eVTOL) aircraft for the Regional Air Mobility (RAM) market. The company's aircraft is designed to transport people and goods regionally, covering distances from 50 to 500 miles. It also aims to connect remote communities and assist in responding to climate-related natural disasters like wildfires, floods, and droughts. The primary product is the Cavorite X7, a hybrid-electric 7-seat aircraft. This aircraft can take off and land vertically, similar to a helicopter. However, for most of its flight, the Cavorite X7 operates in a configuration resembling a traditional airplane, enabling it to fly faster, farther, and more efficiently than a conventional helicopter. The Cavorite X7 is expected to achieve speeds exceeding 250 miles per hour and a range over 500 miles. The Cavorite X7's design incorporates the company's patented fan-in-wing technology, known as the "Horizon Omni-modal Vertical (HOVR) Wing" or "HOVR Wing." This technology has undergone development and testing over several years. Unlike many competitors in the Advanced Air Mobility (AAM) industry that use open rotor designs, the HOVR Wing utilizes a series of ducted electric fans positioned inside the wings to generate vertical lift. After a vertical takeoff, the aircraft accelerates forward. The AAM market, which includes eVTOL aircraft, is projected by Morgan Stanley to reach $USD 1 trillion (base case) by 2040 and $USD 9 trillion by 2050.