By Scott Hamilton

JetZero’s Z4 BWB for the Middle of the Market has a larger wingspan than the Boeing 767. JetZero compares its economics against the out-of-production, 1980s designed 767-200ER, not the current generation of wide-body aircraft. Credit: JetZero.

Feb. 11, 2026, © Leeham News: JetZero, a start-up company based in Long Beach (CA), is developing a Blended Wing Body (BWB) aircraft for the so-called Middle of the Market (MOM). MOM is now occupied by the remaining  Boeing 767-300ERs and 757s, the older and current generation Airbus A321 and the forthcoming Boeing 737-10. The older generation Airbus A330s and the current generation Boeing 787, Airbus A330neo and the A350-900 also serve the MOM sector.

The design is a 250-passenger airliner, the same size as the larger NMAs that were cancelled. JetZero says the BWB will be 30% more aerodynamically efficient than the aircraft it replaces. The company compares the Z4 economics against the  Boeing 767-200ER. It has not compared the Z4 with the current generation aircraft the BWB actually to compete against for sales and costs.

Michel Merluzeau, Sales Engineering and Market Development for JetZero, said the MOM has an “addressable market” is 12,000 aircraft. However, he said this does not reflect the anticipated share that might be captured by the Z4, a figure he did not disclose. Merluzeau was speaking at the annual Pacific Northwest Aerospace Alliance conference today in suburban Seattle.

Engine challenges

An analysis by LNA reveals that the problem for JetZero is that the wing’s large size requires it to fly at over 41,000 ft to reduce parasitic drag, which is the maximum altitude of an A321neo or 737 MAX. At such high altitudes, high-bypass engines such as CFM LEAP and Pratt & Whitney GTF experience thrust loss. The plus 40,000 feet area is for the superlong-range Business jets with their low-bypass engines.

Unfortunately, these engines are too small for JetZero’s project, so the three-generation-old Pratt & Whitney PW2040 is used instead, as it’s a lower bypass engine like the Business jet engines. The PW2040 meets JetZero’s altitude thrust-decline requirements; however, its fuel consumption is not comparable to that of modern engines. JetZero and  Pratt & Whitney said this can be improved. Typically, even major updates to existing engines keep product improvements to less than 5%.

Compared with today’s GE9X, the most modern engine in flight test, the PW2040 would deliver 25% higher fuel consumption, so the project is dangerously close to delivering only marginal improvement on a new, unproven technological airframe without showing a significant operational fuel cost gain at this stage.

Natilus raises $28m

Start-up company Natilus is designing two BWB airplanes: the small Kona freighter, a turboprop designed to compete with the Cessna SkyCourier and Caravan, the ATR-72F and the De Havilland Canada Otter; and the Horizon A320/737 competitor. Credit: Natilus.

Another company pursuing a BWB concept is Natilus of San Diego (CA). It announced yesterday that it raised $28m from private sources. This fledgling company has now raised $33m, a fraction of the $250m it says it needs to bring its first BWB model, the Kona freighter, to market. A 200-passenger BWB, the Horizon, will follow.

The Kona is a small BWB powered by Pratt & Whitney Canada turboprop engines. The larger Horizon concept intends to be powered by the Pratt & Witney GTF or CFM LEAP engines. Kona is designed to have 50% lower operating costs and burn 30% less fuel than similar freighters. Its payload is 3.8 metric tons with a range of 900nm.

Horizon will compete with the Airbus A32neo and Boeing 737 MAX families. Natilus claims the Horizon will have 40% more capacity than the equivalent Airbus and Boeing airplanes, 50% lower operating costs, and burn 25% less fuel. Unlike Jet Zero, which compares its Z4 with the long out-of-production 767-200ER, Natilus compares the Horizon with today’s neo and MAX. The Horizon will have a range of 3,500nm, which is far less than the 4,700nm Airbus advertises for the A321XLR. Airbus advertises a range of 3,400nm for the A320neo. The proposed Airbus A220-500, with up to 180 passengers in high density, is expected to have a range of around 2,800nm to 2,900nm.

Boeing’s 737-8 MAX, -9, and -10 have advertised ranges of 3,500nm, 3,300nm, and 3,100nm, respectively.

Kona

Aleksey Matyushev, the company’s president, said he smaller, turboprop Kona freighter will lay the foundation for the development of the larger passenger Horizon. This autonomous airplane will compete with the Cessna SkyCourier and Caravan, ATR-72F, and De Havilland Canada Otter.

How much will Natilus need to bring the Kona to service? The amount Matyushev says is surprisingly small.

“We believe $250m from pencil through certification is what it will take to bring it to market. I’ve led a lot of Part 23 programs in the business jet world and turboprop world,” Matyushev said. “If they’re billions of dollars, then Cessna and Cirrus would be out of business.”

The timeline to entry into service (EIS) is short. “Kona’s first flight will be in 24 months, so that’ll be 2028. Market entry will be in 2029,” Matyushev says.

Natilus doesn’t have a production plant yet. The company expects to announce its site selection by the end of this year. However, it has a plant in San Diego to produce the first Kona. It’s about 250,000 sf. When the Horizon is developed, Natilus plans a 3.5m sf production plant. For comparison, Boeing’s 787 plant expansion at Charleston is 1.5m sf, about the same size as its current plant. Boeing’s Everett factory is 4.3m sf.

At full production, Natilus projects building 350 Horizons per year, or 29/mo. Airbus is currently building 50 A320 family members at four sites, with plans to increase production to 75/mo. Boeing’s Renton factory had the capacity to build 63 737s a month on three lines before the MAX crisis began in 2019. Under its recovery plan, Renton will be capped at 47/mo. A new North Line’s capacity hasn’t been announced by Boeing, but the single line may have the ability to produce 15 737s a month.

Horizon

Natilus’ mainline BWB, the Horizon, differs from JetZero’s in a number of ways. JetZero’s Z4 BWB is for the Middle of the Market, 250-300 passengers. The Horizon concept competes with the A320 and 737, the sector that has far more market potential than the MOM sector. It’s also a size that doesn’t lend itself to a BWB design, says Airbus. A BWB is better suited the larger it is, Airbus CEO Guillaume Faury said last year.

Natilus’ passenger BWB concept includes lower deck cargo space, unlike the JetZero Z4, which doesn’t have this capability. Credit: Natilus.

Regardless, Horizon is also a dual-deck design in contrast to the Z4. JetZero’s concept doesn’t allow meaningful cargo space below the passenger deck; Horizon can take LD3 containers.

The Z4 has few passenger windows. Natilus’ Horizon has a window line for passengers, due to its high wing design vs JertZero’s traditional low wing concept.

Horizon’s planned use of the GTF or LEAP engine with the higher bypass ratio contrasts with the Z4’s planned use of the 1970s technology Pratt & Whitney PW2040 used on the Boeing 757 and military Boeing C-17 cargo transport. The lower-bypass PW2040 is better suited for cruising at 41,000 ft, says JetZero.

Matyushev says the GTF and LEAP work on the smaller Horizon, which is designed to cruise at 35,000 ft.

Leadership and Advisory Board

Natilus’ website doesn’t list its leadership or advisory board, unlike JetZero, which outlines dozens of people. Natilus provided this list to LNA.

• Leadership Team:
  • Aleksey Matyushev, Co-Founder & CEO
  • Anatoly Star, Co-Founder & Head of Operations
  • Nolan Giblin, Head of Business Development
• Advisory Board:
  • Dennis Muilenburg, Ex-President and CEO of Boeing and Co-Founder, Chairman and CEO of New Vista Capital
  • Brent Wouters, Ex-President and CEO of Cirrus Aircraft
  • Kory Matthews, Former VP of Phantom Works and VP and Chief Engineer of Boeing Military Aircraft
  • Chris Stewart, Former Member of Congress
  • Carl Schaefer, Retired Lt. General, USAF
  • Mark Camere, Retired Major Gen, USAF
  • Steve Bleymaier, Retired Brigadier Gen, USAF

Money needed

Matyushev says the Kona needs $250m for development, certification, and EIS. LNA estimates that upwards $900m is a closer figure. Matyushev says the Horizon needs $3bn to $5bn, a figure LNA estimates is significantly under-estimated. JetZero says it needs $7bn to $10bn for the Z4. LNA also believes this number is way too low.

Bjorn Fehrm contributed to this article.