BusinessAir taxi developer expands into defence sector as growing military spending drives new opportunities for advanced aviation and autonomous technologieCalifornia: Joby Aviation said on Tuesday it has agreed to acquire defence technology company Resonant Sciences for approximately $500 million, as the electric air taxi maker seeks to expand its presence in the rapidly growing defence market. The transaction comes as electric vertical take-off and landing (eVTOL) manufacturers increasingly target military and defence applications amid rising global defence spending. Under the terms of the deal, Joby plans to fund the acquisition with approximately:$450 million in cash$50 million in Joby common stockExpanding defence capabilitiesResonant Sciences, based in Ohio, designs, manufactures and supplies advanced radio-frequency and mission systems for US national security customers. Joby said the acquisition will significantly enhance its defence operations and broaden its technology portfolio beyond commercial air taxi services. Upon completion of the transaction, Resonant will become Joby's dedicated defence business, incorporating:Hybrid aircraft technologiesAutonomy technologiesDefence-focused mission systemsMeanwhile, Joby's commercial division will remain focused on developing and expanding its electric air taxi operations.