Lilium is a pre-revenue aerospace company developing the Lilium Jet, an electric vertical take-off and landing (eVTOL) aircraft targeting regional air mobility routes up to 175 km. The company is in the development stage, assembling its first prototype as of early 2024, with a first manned flight targeted for late 2024 and commercial entry into service planned for 2026, pending regulatory certification. The Lilium Jet uses a proprietary Ducted Electric Vectored Thrust (DEVT) architecture — 30 electric ducted fans embedded in fixed wings — which Lilium argues delivers lower noise, higher payload capacity, and better cruise efficiency than the open-rotor designs used by most eVTOL competitors. Lilium targets two customer segments: private and fractional aviation buyers purchasing a four-seat premium jet at roughly €10M per aircraft, and commercial fleet operators purchasing four- and six-seat models at roughly €7M per aircraft to run point-to-point shuttle services. Beyond aircraft sales, Lilium plans to build a recurring aftermarket business called Lilium POWER-ON, covering battery replacements, maintenance, spare parts, and training. Battery replacements are expected to be the largest recurring revenue driver as the in-service fleet grows. Lilium holds both EASA and FAA certification bases and received EASA Design Organization Approval in November 2023. The company has raised over $1B since founding and has never generated revenue, funding operations entirely through external capital.