Surf Air Mobility Announces Plan to Form New Venture, Surf Air Technologies LLC, and Enters Agreement with Palantir Technologies Inc. to Power Operating System for the Advanced Air Mobility Industry
Surf Air Mobility (NYSE: SRFM) has announced plans to form Surf Air Technologies , a new venture aimed at developing AI-powered software tools for the advanced air mobility industry. The core platform, SurfOS, will be powered by Palantir Technologies (NYSE: PLTR). This initiative builds on the successful collaboration between Surf Air and Palantir since 2021, which has already yielded improvements in Surf Air's operations, including a 25% increase in revenue per trip for its On Demand charter division.
SurfOS will focus on addressing key opportunities in advanced air mobility, such as dynamic pricing, revenue management, and optimal aircraft and crew utilization. The potential market is substantial, with the FAA reporting 1,818 Part 135 operators and 11,702 aircraft in the U.S. alone. Industry reports estimate the regional air mobility market could reach $75-115 billion by 2035, with urban air mobility potentially reaching $1 trillion by 2040.
Surf Air Mobility (NYSE: SRFM) ha annunciato piani per formare Surf Air Technologies, una nuova iniziativa mirata a sviluppare strumenti software basati su AI per l'industria della mobilità aerea avanzata. La piattaforma principale, SurfOS, sarà alimentata da Palantir Technologies (NYSE: PLTR). Questa iniziativa si basa sulla fruttuosa collaborazione tra Surf Air e Palantir dal 2021, che ha già portato a miglioramenti nelle operazioni di Surf Air, inclusa un aumento del 25% del fatturato per viaggio per la sua divisione charter On Demand.
SurfOS si concentrerà su opportunità chiave nella mobilità aerea avanzata, come prezzi dinamici, gestione dei ricavi e utilizzo ottimale di aerei e equipaggi. Il mercato potenziale è sostanziale, con la FAA che riporta 1.818 operatori Part 135 e 11.702 aerei solo negli Stati Uniti. I rapporti di settore stimano che il mercato della mobilità aerea regionale potrebbe raggiungere $75-115 miliardi entro il 2035, con la mobilità aerea urbana che potrebbe raggiungere $1 trilione entro il 2040.
Surf Air Mobility (NYSE: SRFM) ha anunciado planes para formar Surf Air Technologies, una nueva iniciativa destinada a desarrollar herramientas de software impulsadas por IA para la industria de la movilidad aérea avanzada. La plataforma principal, SurfOS, será impulsada por Palantir Technologies (NYSE: PLTR). Esta iniciativa se basa en la colaboración exitosa entre Surf Air y Palantir desde 2021, que ya ha producido mejoras en las operaciones de Surf Air, incluyendo un aumento del 25% en los ingresos por viaje para su división de chárter On Demand.
SurfOS se centrará en abordar oportunidades clave en la movilidad aérea avanzada, como precios dinámicos, gestión de ingresos y utilización óptima de aeronaves y tripulación. El mercado potencial es considerable, con la FAA informando de 1,818 operadores de la Parte 135 y 11,702 aeronaves solo en EE. UU. Los informes de la industria estiman que el mercado de la movilidad aérea regional podría alcanzar $75-115 mil millones para 2035, con la movilidad aérea urbana alcanzando potencialmente $1 billón para 2040.
서프 에어 모빌리티(Surf Air Mobility, NYSE: SRFM)가 서프 에어 테크놀로지(Surf Air Technologies)라는 새로운 사업을 설립할 계획을 발표했습니다. 이 사업은 첨단 항공 모빌리티 산업을 위한 AI 기반 소프트웨어 도구를 개발하는 것을 목표로 합니다. 핵심 플랫폼인 서프OS(SurfOS)는 팔란티어 테크놀로지(Palantir Technologies, NYSE: PLTR)에 의해 구동됩니다. 이 이니셔티브는 2021년 이후 서프 에어와 팔란티어의 성공적인 협력에 기반하며, 이미 서프 에어의 운영에서 여행당 수익 25% 증가라는 성과를 거두었습니다.
서프OS는 동적 가격 책정, 수익 관리 및 최적의 항공기와 승무원 활용과 같은 첨단 항공 모빌리티의 주요 기회를 다루는 데 집중할 것입니다. 잠재 시장은 거대하며, FAA는 미국 내 1,818개의 Part 135 운영자와 11,702대의 항공기를 보고하고 있습니다. 업계 보고서는 지역 항공 모빌리티 시장이 2035년까지 750억에서 1150억 달러에 이를 수 있다고 추정하고 있으며, 도시 항공 모빌리티는 2040년까지 1조 달러에 이를 수 있다고 보고하고 있습니다.
Surf Air Mobility (NYSE: SRFM) a annoncé des plans pour former Surf Air Technologies, une nouvelle entreprise destinée à développer des outils logiciels alimentés par l'IA pour l'industrie de la mobilité aérienne avancée. La plateforme principale, SurfOS, sera propulsée par Palantir Technologies (NYSE: PLTR). Cette initiative s'appuie sur la collaboration réussie entre Surf Air et Palantir depuis 2021, qui a déjà permis d'améliorer les opérations de Surf Air, notamment un augmentation de 25% du chiffre d'affaires par voyage pour sa division charter à la demande.
SurfOS se concentrera sur des opportunités clés dans la mobilité aérienne avancée, telles que tarification dynamique, gestion des revenus et utilisation optimale des avions et de l'équipage. Le marché potentiel est considérable, avec la FAA rapportant 1 818 opérateurs de la Partie 135 et 11 702 avions rien qu'aux États-Unis. Des rapports sectoriels estiment que le marché de la mobilité aérienne régionale pourrait atteindre 75 à 115 milliards de dollars d'ici 2035, tandis que la mobilité aérienne urbaine pourrait atteindre 1 trillion de dollars d'ici 2040.
Surf Air Mobility (NYSE: SRFM) hat Pläne angekündigt, Surf Air Technologies zu gründen, ein neues Unternehmen, das darauf abzielt, KI-gestützte Software-Tools für die Industrie der fortschrittlichen Luftmobilität zu entwickeln. Die Kernplattform, SurfOS, wird von Palantir Technologies (NYSE: PLTR) angetrieben. Diese Initiative baut auf der erfolgreichen Zusammenarbeit zwischen Surf Air und Palantir seit 2021 auf, die bereits Verbesserungen in den Abläufen von Surf Air gebracht hat, darunter eine 25%ige Steigerung des Umsatzes pro Flug für die On-Demand-Charter-Abteilung.
SurfOS wird sich darauf konzentrieren, wichtige Chancen in der fortschrittlichen Luftmobilität anzugehen, wie dynamische Preisgestaltung, Umsatzmanagement und optimale Nutzung von Flugzeugen und Besatzung. Der potenzielle Markt ist erheblich, wobei die FAA 1.818 Part-135-Betreiber und 11.702 Flugzeuge allein in den USA berichtet. Branchenberichte schätzen, dass der Markt für regionale Luftmobilität bis 2035 einen Wert von 75-115 Milliarden USD erreichen könnte, während die städtische Luftmobilität möglicherweise bis 2040 eine Billion USD erreichen könnte.
- Formation of Surf Air Technologies to develop AI-powered software tools for the advanced air mobility industry
- Partnership with Palantir Technologies to power the SurfOS platform
- 25% increase in revenue per trip for Surf Air's On Demand charter division since partnering with Palantir
- Potential market opportunity of 1,818 Part 135 operators with 11,702 aircraft in the U.S.
- Estimated regional air mobility market size of $75-115 billion by 2035
- None.
The announcement of Surf Air Mobility's plan to form Surf Air Technologies , in partnership with Palantir, represents a significant strategic move in the advanced air mobility sector. The development of SurfOS, an AI-powered operating system, could potentially disrupt the regional air travel industry.
Key financial implications include:
- Potential for new revenue streams through software sales to Part 135 operators
- Improved operational efficiency, as evidenced by the
25% increase in revenue per trip in Surf Air's On Demand charter division - Possible external investment to capitalize the new venture, which could impact Surf Air's financial structure
The estimated market size of
The collaboration between Surf Air and Palantir to create SurfOS marks a significant technological advancement in the air mobility sector. Key technological aspects include:
- Integration of Palantir's AI and data analytics capabilities into aviation operations
- Development of tools for dynamic pricing, revenue management and resource optimization
- Potential for scalability across thousands of operators
The system's ability to enhance decision-making and operational efficiency could be a game-changer for regional air operators. However, the success of SurfOS will depend on its ability to seamlessly integrate with existing aviation systems and meet stringent industry regulations. The platform's adaptability to future electrified aircraft adds another layer of complexity and potential.
The formation of Surf Air Technologies and its partnership with Palantir represents a strategic positioning in the evolving advanced air mobility market. Key market insights include:
- Targeting a niche but substantial market of 1,818 Part 135 operators in the U.S.
- Potential to catalyze growth in regional air travel by improving operational efficiencies
- Alignment with the trend towards electrified aircraft and sustainable aviation
The projected market size of
The companies have been working together since 2021 deploying operator software used by Surf Air Mobility. Surf Air will leverage Palantir’s AIP to build a unique and transformative set of software tools for regional air operators and electrified aircraft OEMs.
Surf Air Technologies intends to sell and deploy software tools across the market consisting of thousands of Part 135 regional air operators (small aircrafts limited to under 30 seats with a 7,500 pound maximum payload), of which Surf Air Mobility’s Southern Airways subsidiary is the largest by scheduled departures. Palantir and Surf Air will engage their enterprise teams to make this technology broadly available.
Surf Air Technologies will build on the successful work Palantir and Surf Air began in 2021, in which the companies have been deploying software and analytics tools for use across Surf Air’s three air travel brands. The tools the companies have developed to date have focused on the most important needs for Part 135 operators and includes crew scheduling, business intelligence, distribution and pricing. Surf Air has already seen improvements to its own operations and business across these categories. For instance, since the start of our partnership, by leveraging deeper insights into customer behavior, preferences, and travel patterns, Surf Air has seen an approximate
Surf Air will be the first customer and consumer for SurfOS, and it plans to use these tools to enhance deployment and utilization of its own electrified aircraft, once certified.
Surf Air is considering bringing in outside investors to capitalize the Surf Air Technologies venture.
“SurfOS powered by Palantir’s Foundry and AI platforms will provide cutting edge AI-powered software infrastructure to operators of scheduled service and charter services, consumers, and aircraft manufacturers not existing today. SurfOS AI-powered operating systems will enable operators across the ecosystem to run their businesses more efficiently with access to more data with all types of aircraft including new electrified aircraft. SurfOS will provide disruptive software services and an operating platform to the advanced air mobility space to manage distribution and operations, enabling new businesses to flourish,” said Sudhin Shahani, Co-founder of Surf Air Mobility.
Surf Air believes that artificial intelligence, machine learning, and big data will transform advanced air mobility and will require a new set of tools to support the growth of this market segment. Surf Air Technologies is focused on addressing the largest opportunities across advanced air mobility, such as dynamic pricing, revenue management, and optimal aircraft and crew utilization.
The software tools will enable more accurate decision-making to improve operational efficiency and drive revenue, and will be categorized across dimensions that include revenue operations, distribution & monetization, and passenger operations.
The potential market opportunity is large, with the FAA reporting 1,818 Part 135 operators with 11,702 aircraft in the
Reports from McKinsey & Co. and NASA estimate that the size of the regional air mobility market could reach between
“We’re excited to offer these software tools to over 300 of the air operator partners we work with most often to empower their businesses and meet the growing demand for more efficient regional connectivity,” said Jamie Strecker, VP of Business Development for Surf Air Mobility.
About Palantir Technologies
Foundational software of tomorrow. Delivered today. Additional information is available at https://www.palantir.com.
About Surf Air Mobility
Surf Air Mobility is a
Surf Air Forward-Looking Statements
This Press Release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including statements regarding the anticipated benefits of the joint venture with Palantir; Surf Air Technologies’ ability to develop, market and sell AI-powered software; the anticipated benefits and market acceptance of the software developed by Surf Air Technologies; the additional capitalization of Surf Air Technologies by outside investors; Surf Air Mobility’s ability to anticipate the future needs of the air mobility market; and future trends in the aviation industry, generally. Readers of this release should be aware of the speculative nature of forward-looking statements. These statements are based on the beliefs of the Surf Air Mobility’s management as well as assumptions made by and information currently available to the Surf Air Mobility and reflect the Surf Air Mobility’s current views concerning future events. As such, they are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, among many others: the risk that Surf Air and Palantir may not successfully consummate the transaction contemplated by the Surf Air Technologies venture agreement; the risk that any projections, including earnings, revenues, expenses, synergies, margins or any other financial items that form the basis for the parties’ plans and assumptions will not be realized; the risk that Surf Air Technologies is unable to successfully develop, market, and sell software that maximizes the utility of AI and functions as intended; the risk that competitors may provide similar offers that fulfill the needs of target customers; Surf Air Mobility’s future ability to fulfill contractual obligations and maintain liquidity will depend on operating performance, cash flow and ability to secure adequate financing; Surf Air Mobility’s limited operating history and that Surf Air Mobility has not yet manufactured any hybrid-electric or fully-electric aircraft; the powertrain technology Surf Air Mobility plans to develop does not yet exist; any accidents or incidents involving hybrid-electric or fully-electric aircraft; the inability to accurately forecast demand for products and manage product inventory in an effective and efficient manner; the dependence on third-party partners and suppliers for the components and collaboration in Surf Air Mobility’s development of hybrid-electric and fully-electric powertrains, and any interruptions, disagreements or delays with those partners and suppliers; the inability to execute business objectives and growth strategies successfully or sustain Surf Air Mobility’s growth; the inability of Surf Air Mobility’s customers to pay for Surf Air Mobility’s services; the inability of Surf Air Mobility to obtain additional financing or access the capital markets to fund its ongoing operations on acceptable terms and conditions; the outcome of any legal proceedings that might be instituted against Surf Air, Southern or Surf Air Mobility; the risks associated with Surf Air Mobility’s obligations to comply with applicable laws, government regulations and rules and standards of the New York Stock Exchange; and general economic conditions. These and other risks are discussed in detail in the periodic reports that the Surf Air Mobility files with the SEC, and investors are urged to review those periodic reports and the Surf Air Mobility’s other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov, before making an investment decision. Surf Air Mobility assumes no obligation to update its forward-looking statements except as required by law.
Palantir Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir’s expectations regarding the amount and the terms of the contract and the expected benefits of its software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond Palantir’s control. These risks and uncertainties include Palantir’s ability to meet the unique needs of its customers; the failure of Palantir’s platforms to satisfy its customers or perform as desired; the frequency or severity of any software and implementation errors; the reliability of Palantir’s platforms; and the ability of Palantir’s customers to modify or terminate their contracts. Additional information regarding these and other risks and uncertainties is included in the filings Palantir makes with the Securities and Exchange Commission from time to time. Except as required by law, Palantir does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.
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1 Surf On Demand charter revenue per trip measuring increase from 2021 to 2023.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240813782044/en/
Media
Palantir Press: Lisa Gordon, media@palantir.com
Surf Air Mobility Press: Patrick Lenihan press@surfair.com
Surf Air Mobility Investors: investors@surfair.com
Source: Surf Air Mobility Inc.
FAQ
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