JetZero's $1B bet on reinventing the airplane

Overview

Updated May 21

The tube-and-wing aircraft design has dominated commercial aviation since the Boeing 707 entered service in 1958. JetZero, a Long Beach startup, just raised $175 million to challenge that 67-year-old paradigm with a blended-wing aircraft. The new design merges fuselage and wings into a single lifting surface, promising 50% fuel savings over conventional jets.

The Series B round was led by B Capital, with investments from Northrop Grumman, United Airlines Ventures, RTX, and 3M Ventures, pushing JetZero's total funding past $1 billion. The company has 200 conditional aircraft orders from United and Alaska Airlines, a $235 million Air Force contract, a $4.7 billion manufacturing plant planned in North Carolina, and a 2027 deadline to fly a full-scale demonstrator.

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Key Indicators

$1B+

Total funding secured

Including government grants, commercial commitments, and venture capital

50%

Projected fuel savings

Compared to conventional tube-and-wing aircraft like the Boeing 767

200

Conditional aircraft orders

From United Airlines (up to 100) and Alaska Airlines (up to 100)

2027

Full-scale demonstrator flight target

Mandated by Air Force contract, built by Northrop's Scaled Composites

Voices

Curated perspectives — historical figures and your fellow readers.

Ever wondered what historical figures would say about today's headlines?

People Involved

Tom O'Leary

Co-Founder & CEO, JetZero

Leading company through Series B and manufacturing site selection

Mark Page

Co-Founder & CTO, JetZero

Leading technical development of Z4 demonstrator

Organizations Involved

JetZero

Aerospace Startup

Developing Z4 blended-wing body aircraft

California-based startup developing the first commercial blended-wing body aircraft, targeting entry into service in the early 2030s.

Northrop Grumman

Aerospace and defense company

Strategic investor and manufacturing partner via Scaled Composites

Defense prime whose Scaled Composites subsidiary is building JetZero's full-scale demonstrator in Mojave, California.

United Airlines

Major U.S. Airline

Strategic investor with conditional order for up to 100 aircraft

Third-largest US carrier by revenue, pursuing 2050 net-zero goal through SAF investments and next-generation aircraft.

U.S. Air Force

Military Branch

Primary funder via Defense Innovation Unit contract

Awarded JetZero $235 million to demonstrate BWB technology for potential tanker and cargo aircraft applications.

Timeline

January 1994 January 2026

10 events Latest: January 13th, 2026 · 8 months ago

Tap a bar to jump to that date

January 2026
JetZero closes $175M Series B
Latest Funding

B Capital leads round with Northrop Grumman, United, RTX, and 3M Ventures, pushing total commitments past $1 billion.
January 13th, 2026
June 2025
JetZero selects North Carolina for manufacturing
Corporate

Company announces $4.7 billion factory at Piedmont Triad airport, projecting 14,500 jobs—largest in state history.
June 12th, 2025
April 2025
United Airlines invests with path to 200 aircraft
Commercial

United Ventures makes strategic investment with conditional purchase agreement for up to 100 aircraft plus 100 options.
April 1st, 2025
August 2024
Alaska Airlines becomes first airline investor
Funding

Alaska Star Ventures invests in JetZero's Series A with options for future aircraft orders.
August 13th, 2024
August 2023
Air Force awards JetZero $235M contract
Funding

Defense Innovation Unit selects JetZero to build full-scale BWB demonstrator by 2027, beating larger competitors.
August 16th, 2023
January 2020
JetZero founded
Corporate

Tom O'Leary and Mark Page spin out BWB development from DZYNE Technologies to form JetZero in Long Beach.
January 1st, 2020
April 2013
X-48 program ends without commercial successor
Research

After 122 flights over six years, the X-48 program concludes. Plans for a larger transonic demonstrator fail to materialize.
April 9th, 2013
July 2007
Boeing X-48B makes first flight
Milestone

NASA and Boeing's 20-foot unmanned BWB demonstrator begins flight testing at Edwards Air Force Base.
July 20th, 2007
January 1997
First BWB scale model flies
Milestone

The BWB-17, a 17-foot artificially stabilized model built by Stanford University, demonstrates viable handling qualities.
January 1st, 1997
January 1994
NASA launches blended-wing body research
Research

NASA begins funding McDonnell Douglas to develop modern BWB configuration. Mark Page leads the three-year program.
January 1st, 1994

Scenarios

JetZero Flies Demonstrator on Schedule, Airlines Firm Up Orders

Possible

Discussed by: Flight Global, Bloomberg aerospace analysts

The 2027 demonstrator flight meets Air Force performance targets, proving 30%+ aerodynamic efficiency gains. United and Alaska convert conditional orders to firm commitments. Additional carriers sign letters of intent. FAA begins formal certification pathway discussions for commercial variant. JetZero achieves entry into service in early 2030s as planned.

Certification Hurdles Delay Commercial Entry by 5+ Years

Possible

Discussed by: Leeham News, Mentour Pilot aviation analysis

Demonstrator flies successfully but FAA requires extended testing for novel evacuation procedures and non-standard pressure vessel certification. Airlines maintain interest but push back delivery commitments. Military applications proceed on faster timeline. JetZero burns through capital during extended certification, requiring additional funding rounds.

Boeing or Airbus Acquires JetZero Technology

Possible

Discussed by: Aviation Week, industry M&A analysts

As JetZero proves the technology viable, a major OEM acquires the company or licenses the design rather than compete. Boeing, facing 2030s timeline pressure for 737 replacement and burdened with debt, finds acquisition cheaper than internal development. JetZero's team and IP transfer to established manufacturer with deeper pockets and certification experience.

Demonstrator Underperforms, Commercial Program Stalls

Unlikely

Discussed by: The Air Current, aerospace skeptics

Full-scale demonstrator fails to achieve projected efficiency gains at scale, or encounters insurmountable stability and control issues. Airlines walk away from conditional orders. Military continues limited development for niche applications. JetZero pivots to component supplier or winds down.

Historical Context

3 moments from history that rhyme with this story — and how they unfolded.

January 1976 - November 2003

Concorde Commercial Failure (1976-2003)

British-French consortium built 20 supersonic airliners promising to halve transatlantic flight times. Only 14 entered service with two airlines, never achieving profitability. High fuel costs, limited routes, sonic boom restrictions, and a fatal 2000 crash ended the program.

Then

Concorde operated for 27 years but never expanded beyond Air France and British Airways, ultimately retired in 2003.

Now

Demonstrated that revolutionary aircraft technology alone doesn't guarantee commercial success. Operating economics, regulatory constraints, and airport infrastructure matter as much as engineering breakthroughs.

Why this matters now

JetZero faces similar risks: novel certification requirements, infrastructure compatibility questions (wide aircraft at existing gates), and the gap between technical promise and commercial viability. Unlike Concorde, JetZero's value proposition is cost reduction rather than speed.

July 2007 - April 2013

Boeing X-48 Program (2007-2013)

NASA and Boeing flew the X-48, a 20-foot unmanned BWB demonstrator, 122 times at Edwards Air Force Base over six years. The program validated low-speed handling qualities and proved the configuration viable, but Boeing and NASA announced plans for a larger transonic demonstrator that never materialized.

Then

Boeing shelved commercial BWB development, citing lack of airline demand and certification uncertainty.

Now

The X-48 team—Mark Page, Bob Liebeck, Blaine Rawdon—left Boeing and eventually formed the core of JetZero, carrying decades of institutional knowledge to the startup.

Why this matters now

JetZero is essentially the X-48 program's commercial successor, led by the same engineers who invented the modern BWB configuration. The startup exists because Boeing chose not to pursue commercial applications.

December 2010 - May 2020

SpaceX Commercial Crew Development (2010-2020)

NASA awarded SpaceX $2.6 billion to develop commercial crew transportation to the ISS, betting on a startup over established contractors. SpaceX's Crew Dragon flew astronauts a decade after contract award, breaking the government-contractor monopoly on human spaceflight.

Then

SpaceX successfully launched astronauts in May 2020, validating the model of government funding enabling commercial space capabilities.

Now

NASA's commercial approach created a competitive market, dramatically reducing launch costs and establishing the template for public-private partnerships in aerospace.

Why this matters now

JetZero's Air Force contract mirrors NASA's commercial crew approach—government funding de-risking revolutionary technology development by a startup. The 2027 demonstrator deadline is JetZero's equivalent of SpaceX's crewed flight milestone.