AerospaceAug 10, 2026

Workhorse

Company Profile Analysis

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Year Founded & Workforce

1997-12-31

81 Employees

Industry

Aerospace

Services

Workhorse Overview

Company Headquarters: Loveland, Ohio, US

Founded: 1998

Workforce: ~81

Company Working:

Workhorse is a technology company that offers electric mobility solutions to the transportation industry. The company designs and develops battery-electric vehicles such as aircraft and trucks. Workhorse is also involved in the development of cloud-based real-time telematics performance monitoring systems that can be integrated into vehicles and enable fleet operators to experience enhanced route efficiency.

Strategy

Workhorse is focused on developing its position in the global eVTOL aircraft market by offering innovative solutions. Additionally, it aims at expanding its customer base by upgrading its products and offering enhanced eVTOL aircraft. Furthermore, the company is collaborating with the US Army to test the applications of eVTOL aircraft in the military. This gives it a competitive edge over other players in the market.

Company Snapshot

$10M

Revenue

Employees

1997-12-31

Founded

Loveland, Ohio, US

Headquarters

SWOT Analysis

Strengths

High technical capabilities
Strong government support

Weaknesses

Declining revenue from USD 0.7 million in 2018 to USD 0.4 million in 2019
Declining investments in R&D from USD 17.7 million in 2017 to USD 7.3 million in 2018
Declining revenue from USD 10.0 million in 2017 to USD 0.7 million in 2018

Opportunities

Strategic collaborations and acquisitions
Development of innovative products

Threats

Stringent regulations for approval of new technologies

Key Developments

Date	Approach	Development
April 2020	Collaboration	Workhorse collaborated with The Virginia Center for Innovative Technology (CIT), UPS, and DroneUp, to conduct the testing of drones to deliver medical supplies amidst the ongoing COVID-19 pandemic.
November 2019	Collaboration	Workhorse collaborated with Unmanned Systems Operations Group; a medical drone delivery service provider based in the US. Under the collaboration, the companies launched a drone-delivery program for the medical industry.
May 2018	Collaboration	Workhorse collaborated with the FAA for a drone delivery pilot program. Under the program, the company was to use its HorseFly delivery drones to deliver packages in Ohio, US.
November 2018	Agreement	Workhorse signed an agreement with the US Army to test the military applications of its SureFly eVTOL aircraft.

Product Offering

Workhorse
- Drone Delivery
- eVTOL

Financial Performance

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About the Author

Wantstats Research Team

Wantstats' research desk profiles Workhorse as part of our ongoing coverage of the Aerospace sector, drawing on public company data, filings, and market intelligence.

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Rob Kooiker

Group Product Manager HVAC & Fire Protection GMA, Rockwool

I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!

Jason Lee

R&D Director, Seojin

Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.

Akif Moroglu

Strategy & Business Development Director, Dogan Holding

We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.

Noah Malgeri

Co-Founder, Mojave Rail Fabrication Limited

This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.

Michael Robert

Manager, JavolVision

Thanks, I am so happy that we worked together. Maybe we still can work together in the future.

Joseph Aguayo

Sales Operations & Pricing Manager, Intel

Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.

Bong Lau

Sales Leader, Bamberg

We bought your "2025 report" in 2020. Everything is fine and very good.

Peter Groot Koerkamp

Account and Business Manager, EFS-Holland BV

Thanks for sending the report it gives us a good global view of the Betaïne market.

Younghwan Choi

Senior Retail Manager, LG Chem

We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.

Mark Irwin

Management Consultant, Level 21

I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.

Rob Kooiker

Group Product Manager HVAC & Fire Protection GMA, Rockwool

I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!

Jason Lee

R&D Director, Seojin

Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.

Akif Moroglu

Strategy & Business Development Director, Dogan Holding

We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.

Workhorse

Company Headquarters: Loveland, Ohio, US Founded: 1998 Workforce: ~81 Company Working: Workhorse is a technology company that offers electric mobility solutions to the transportation industry. The company designs and develops battery-electric vehicles such as aircraft and trucks. Workhorse is also involved in the development of cloud-based real-time telematics performance monitoring systems that can be integrated into vehicles and enable fleet operators to experience enhanced route efficiency.

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