UAE Backs Plans for Speeder Family of Air Utility VTOLs

In addition to the first P2 model, Mayman Aerospace is working on new Speeder models including the Micro, Cargo and Endurance Class aircraft.

Mayman Aerospace's Speeder VTOL air utility vehicle could have military applications. — Initially, U.S. start-up Mayman Aerospace is developing its Speeder VTOL air utility vehicle for military applications. (Image: Mayman Aerospace)

By Charles Alcock • Managing Editor

February 24, 2023

The United Arab Emirates’ Strategic Development Fund is investing $3 million in Mayman Aerospace’s plans to bring the remotely piloted Speeder VTOL aircraft to market. The capital injection announced on February 22 is the latest investment in the advanced air mobility sector by the venture capital arm of the Tawazun Council, which oversees the Gulf state’s sovereign wealth fund.

The full-scale P2 turbine-powered model, which Mayman refers to as an air utility vehicle, is expected to have a 1,000-pound payload. The company believes it will be able to fly up to 400 miles at over 500 mph and be used for a variety of applications, including cargo deliveries and military logistics. The California-based start-up said that the new funding from the UAE will support the Speeder’s ongoing flight test campaign as it aims for FAA type certification in 2024, and also wider product development of new versions of the vehicle aimed initially at military applications.

The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background.

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