HOVR

New Horizon Aircraft Ltd. develops hybrid electric vertical takeoff and landing (eVTOL) aircraft for regional transportation markets. Headquartered in Toronto, Canada, the company focuses on its flagship product, the Cavorite X7, a seven-passenger aircraft designed to combine the hovering capabilities of a helicopter with the speed and range of a conventional airplane. The Cavorite X7 features a patented fan-in-wing technology that enables vertical takeoff and landing while transitioning to efficient cruise flight at speeds up to 450 kilometers per hour with a projected range of 500 kilometers. New Horizon targets the advanced air mobility sector, positioning its aircraft for applications including emergency medical services, cargo delivery, and regional passenger transport. The company operates as a publicly traded entity on the Toronto Stock Exchange under the ticker HOVR. Recent developments include ongoing flight testing and demonstration programs aimed at advancing toward certification milestones. New Horizon collaborates with aerospace suppliers and research institutions to refine its propulsion systems and airframe design. The company employs a development-stage business model, focusing resources on engineering, prototype testing, and regulatory compliance rather than commercial production. As an emerging player in the eVTOL industry, New Horizon competes with both established aerospace manufacturers and venture-backed startups pursuing similar urban and regional air mobility solutions.