The Aerospace Executive Podcast

In the defense industrial base, everyone knows the primes dominate the big programs, but that leaves a huge gap in the middle. Startups don’t scale, the primes can’t move fast, and decades of consolidation have hollowed out the space in between. For years, everyone has recognized this gap, but no one has really solved it. The primes are getting bigger, the small innovators get attention but struggle to scale, and the middle tier keeps shrinking. Meanwhile, the need for companies that can deliver speed, value, and scale has only grown more urgent. That’s starting to change. A new class of “next-gen primes” is emerging, companies that can think like small disruptors but deliver like established contractors. They’re leaner, faster, and built for the kind of problems the bigs won’t touch. One of the leaders of this movement is John Albers, retired Marine Colonel and now CEO of Albers Aerospace. After diving into entrepreneurship, he became a voracious student of business and started building what he calls a next-gen prime. In less than a decade, he’s grown Albers Aerospace into a nine-site operation by combining organic growth, acquisitions, and a relentless focus on lean execution and leadership development. In this special replay episode, John shares how Albers Aerospace is reshaping the defense industrial base, what it really takes to scale in this space, and why leadership culture, not technology alone, drives speed and impact. You’ll also learn; How Albers Aerospace scaled from a one-man shop to 9 sites through a mix of organic growth and acquisitions Why humility and getting your “rear end kicked” is often the most important leadership lesson How over-consolidation at the top has created a roll-up opportunity for mid-tier defense companies Why financial literacy and leadership training are as important as operations in a fast-growing business Why speed, lean execution, and value, not allowable costs, win contracts in today’s environment How John thinks about building impact for the warfighter and the industrial base, not just chasing dollars Guest Bio John Albers is the founder and CEO of Albers Aerospace, a Dallas-area defense and aerospace company organized into three business units. Since its founding in 2015, Albers Aerospace has grown rapidly through acquisitions and organic expansion, delivering innovative products and services to today’s warfighter. A retired U.S. Marine Corps Colonel with 24 years of active duty, John served as a fleet pilot, flight instructor, and developmental test pilot. As an entrepreneur and senior executive, John brings more than 35 years of leadership and operational experience across defense acquisition and private industry. He thrives in fast-paced environments, excels at building and aligning teams, and is deeply committed to developing people while driving organizational growth. Visit https://www.albers.aero/ and connect with John on LinkedIn . About Your Host Craig Picken is an Executive Recruiter, writer, speaker and ICF Trained Executive Coach. He is focused on recruiting senior-level leadership, sales, and operations executives in the aviation and aerospace industry. His clients include premier OEMs, aircraft operators, leasing/financial organizations, and Maintenance/Repair/Overhaul (MRO) providers, and since 2008, he has personally concluded more than 400 executive-level searches in a variety of disciplines. Craig is the ONLY industry executive recruiter who has professionally flown airplanes, sold airplanes, and successfully run a P&L in the aviation industry. His professional career started with a passion for airplanes. After eight years’ experience as a decorated Naval Flight Officer – with more than 100 combat missions, 2,000 hours of flight time, and 325 aircraft carrier landings – Craig sought challenges in business aviation, where he spent more than 7 years in sales with both Gulfstream Aircraft and Bombardier Business Aircraft. Craig is also a sought-after industry speaker who has presented at Corporate Jet Investor, International Aviation Women’s Association, and SOCAL Aviation Association. Check out this episode on our website , Apple Podcasts , or Spotify , and don't forget to leave a review if you like what you heard. Your review feeds the algorithm so our show reaches more people. Thank you! For more aerospace industry news & commentary: https://craigpicken.com/insights/ . To learn more about Craig Picken, visit https://craigpicken.com/ .

“The AI data center build-out is already the biggest infrastructure project, inflation-adjusted, that we've ever undertaken as a society.” That’s Sebastian Schaal, co-founder and Managing Director of Luminovo , an AI software company specializing in electronics supply chain management. I wanted to talk to Sebastian about how executives respond when key components are seeing 20X the demand of pre-2022 levels. What You’ll Discover In This Episode How 20-year old electronics have become a hidden risk for aerospace and defense companies How AI data centers are disrupting your electronics supply chain The model VC’s pushed him to build…and what he built instead Leadership lessons from building a team of 100+ Why Sebastian turned down more VC money (and who’s funding him now) About the Guest Sebastian Schaal is the Co-Founder and Managing Director of Luminovo , an AI software company that aims to turn electronics supply chain into a competitive advantage. He is also the Revenue department lead, overseeing and aligning activities across Growth, Sales, Customer Success and Revenue Operations. Connect with Sebastian on LinkedIn or sign up for the Luminovo newsletter . About Your Host Craig Picken is an Executive Recruiter, writer, speaker, and ICF Trained Executive Coach. He is focused on recruiting senior-level leadership, sales, and operations executives in the aviation and aerospace industry. His clients include premier OEMs, aircraft operators, leasing/financial organizations, and Maintenance/Repair/Overhaul (MRO) providers, and since 2008, he has personally concluded more than 400 executive-level searches in a variety of disciplines. Craig is the ONLY industry executive recruiter who has professionally flown airplanes, sold airplanes, and successfully run a P&L in the aviation industry. His professional career started with a passion for airplanes. After eight years’ experience as a decorated Naval Flight Officer – with more than 100 combat missions, 2,000 hours of flight time, and 325 aircraft carrier landings – Craig sought challenges in business aviation, where he spent more than 7 years in sales with both Gulfstream Aircraft and Bombardier Business Aircraft. Craig is also a sought-after industry speaker who has presented at Corporate Jet Investor, International Aviation Women’s Association, and SOCAL Aviation Association. Resources For more aerospace industry news & commentary: https://craigpicken.com/insights/ . To learn more about Craig Picken, visit https://craigpicken.com/ .

The transition from being a rockstar in your vertical to leading at the C-suite level is one of the hardest jumps in modern business. Not because you aren’t capable, but because the job changes faster than anyone prepares you for, and the timeline to become effective has collapsed from years to months. You used to have a multi-year runway to listen, learn, and settle in. Now the proving ground has accelerated, and you’re expected to think enterprise-wide, set direction, shape culture, and operate with conviction almost immediately. And that’s where so many leaders get blindsided. They step into the role with deep expertise, strong track records, and every intention of succeeding. But they quickly discover that the behaviors that powered their rise don’t automatically translate to the top job. The stakes are higher, the scrutiny is sharper, and the margin for a slow learning curve is gone. Boards, investors, and teams are already forming judgments before you’ve even taken your seat. And without realizing it, new executives find themselves operating on outdated instincts in a completely different environment. Bill Koch is a former CEO who now coaches leaders navigating some of the most high-pressure environments. He helps new CEOs compress the transition, build real executive presence, and operate with clarity and confidence. In this episode, we talk about how to accelerate that transition, how to understand how you’re actually being perceived, and how to adapt fast enough to avoid losing ground in your first critical months. You’ll also learn; Why the jump from functional mastery to C-suite leadership is so challenging How the timeline for becoming effective has collapsed, and what that means for new executives. The behaviors that helped you rise and why they can quietly derail you in a senior role. How to understand the difference between vertical thinking and enterprise thinking. Why a 360 assessment is often the first real mirror a new executive has ever seen. How boards and teams perceive you long before you think they do Why private equity environments expose leadership weaknesses faster than any other setting. How to cultivate executive presence that signals quiet confidence, not overcompensation. The importance of building a “personal boardroom” to think clearly under pressure. Guest Bio Bill Koch is an executive coach with more than 25 years of C-suite and senior leadership experience across public companies, private enterprises, and private equity–backed firms. A former CEO himself, Bill brings a rare blend of operational depth, boardroom insight, and executive maturity to his coaching practice. His work centers on one mission: helping high performers become highly effective enterprise leaders. For more than a decade, Bill has served as a trusted advisor to CEOs and senior executives navigating high-pressure, high-visibility roles. He coaches leaders across Fortune 500 companies, growth-stage organizations, and academic institutions—guiding them through pivotal transitions, accelerated timelines, and complex leadership challenges. His clients turn to him to gain clarity, sharpen judgment, and build the confident executive presence required to lead at the top. Bill’s clients include American Express, Apple, Boeing, Goldman Sachs, John Deere, Mars, MGM, McKesson, Toyota, and others. To learn more, visit https://www.kochleadership.com/ or read Bill’s latest insights on Forbes . About Your Host Craig Picken is an Executive Recruiter, writer, speaker, and ICF Trained Executive Coach. He is focused on recruiting senior-level leadership, sales, and operations executives in the aviation and aerospace industry. His clients include premier OEMs, aircraft operators, leasing/financial organizations, and Maintenance/Repair/Overhaul (MRO) providers, and since 2008, he has personally concluded more than 400 executive-level searches in a variety of disciplines. Craig is the ONLY industry executive recruiter who has professionally flown airplanes, sold airplanes, and successfully run a P&L in the aviation industry. His professional career started with a passion for airplanes. After eight years’ experience as a decorated Naval Flight Officer – with more than 100 combat missions, 2,000 hours of flight time, and 325 aircraft carrier landings – Craig sought challenges in business aviation, where he spent more than 7 years in sales with both Gulfstream Aircraft and Bombardier Business Aircraft. Craig is also a sought-after industry speaker who has presented at Corporate Jet Investor, International Aviation Women’s Association, and SOCAL Aviation Association. Resources For more aerospace industry news & commentary: https://craigpicken.com/insights/ . To learn more about Craig Picken, visit https://craigpicken.com/ . Check out this episode on our website , Apple Podcasts , or Spotify , and don't forget to leave a review if you like what you heard. Your review feeds the algorithm, so our show reaches more people. Thank you!

Aerospace has always been a cyclical industry, one sector up, another down, capital moving cautiously between them. That’s not what’s happening right now. Every major sector is ripping at the same time, for completely different reasons. Commercial is coming back online. Aftermarket and MRO have been running hot since COVID. Defense is being pulled forward by geopolitical demand. Business aviation has settled into a stronger, more stable “new normal.” It’s rare to see this kind of synchronized momentum across the entire ecosystem, and when it happens, it changes how capital behaves. For years, aerospace exits were predictable. You built a solid business, ran an M&A process, and sold. IPOs were barely part of the conversation. Industrial manufacturing wasn’t exactly exciting to public market investors. Now, IPOs are not only viable, but they’re also often the better option. Industrial businesses that used to be seen as slow, capital-heavy, and unsexy are suddenly being revalued as AI-proof, infrastructure-critical, and in some cases, direct beneficiaries of the AI boom. And that shift is forcing a new level of sophistication from operators. Because today, you’re not just deciding whether to sell; you’re deciding how to exit in a market with more options than ever before. At the same time, there’s a quiet risk underneath all of this. Fuel prices, geopolitical instability, and supply chain pressure. None of these have gone away. So the question isn’t just how long this run continues; it’s whether operators are actually prepared for the version of the market we’re in now. In this episode, I’m joined by the Global Head of Aerospace and Aviation Investment Banking at Jefferies, Nick Fazioli. He breaks down what’s really driving this moment across aviation, defense, and industrials, and what it means for operators thinking about growth, capital, and exit strategy. You’ll also learn; How “boring” industrial manufacturing became one of the most attractive investment categories Why IPOs are suddenly back, and in some cases outperforming traditional M&A exits How AI is indirectly reshaping aerospace valuations through energy, infrastructure, and supply chain demand The rise of continuation vehicles and why operators now have more exit paths than ever before Where private equity and institutional capital are actually placing bets right now (and why MRO is so competitive) The hidden risks: fuel prices, geopolitics, and consumer pressure, and how quickly they could impact the system Why operators need to become far more strategic, not just in building businesses, but in positioning them for exit About the Guest Nick Fazioli is the Global Head of Aerospace and Aviation Investment Banking at Jefferies, where he leads one of the most active practices across commercial aviation, business aviation, and aerospace services. Over the past 16 years, he’s been at the center of some of the most significant transactions in business aviation, including the sale of Marquis Jet to NetJets and West Star Aviation’s exit to Greenbriar Equity Group. With a front-row seat to M&A, capital markets, and the evolving investor landscape, Nick brings a unique perspective on where capital is flowing and how operators should be thinking about growth and exit strategy in today’s market. Connect with Nick on LinkedIn . About Your Host Craig Picken is an Executive Recruiter, writer, speaker, and ICF Trained Executive Coach. He is focused on recruiting senior-level leadership, sales, and operations executives in the aviation and aerospace industry. His clients include premier OEMs, aircraft operators, leasing/financial organizations, and Maintenance/Repair/Overhaul (MRO) providers, and since 2008, he has personally concluded more than 400 executive-level searches in a variety of disciplines. Craig is the ONLY industry executive recruiter who has professionally flown airplanes, sold airplanes, and successfully run a P&L in the aviation industry. His professional career started with a passion for airplanes. After eight years’ experience as a decorated Naval Flight Officer – with more than 100 combat missions, 2,000 hours of flight time, and 325 aircraft carrier landings – Craig sought challenges in business aviation, where he spent more than 7 years in sales with both Gulfstream Aircraft and Bombardier Business Aircraft. Craig is also a sought-after industry speaker who has presented at Corporate Jet Investor, International Aviation Women’s Association, and SOCAL Aviation Association. Resources For more aerospace industry news & commentary: https://craigpicken.com/insights/ . To learn more about Craig Picken, visit https://craigpicken.com/ .

Most people think the aerospace supply chain is crawling back to normal after the pandemic. But that’s not what’s happening. The industry is scaling in a permanently elevated demand environment. Commercial aviation is rebuilding. Defense budgets are structurally higher. New platforms like EVTOL, drones, hypersonics, and space are moving into production. This isn’t a strain; it’s a structural transformation. And in a world obsessed with engines and airframes, the real leverage sits in the smallest parts. At the same time, complexity is rising. Aircraft are lighter, more electronic, and more integrated. Tolerances are tighter, and the margin for error is gone. This is where FDH Aero comes in: distribution reimagined as a strategic capability. In a high-velocity, high-complexity market, reliability becomes a strategy. How is FDH embedding itself within OEM production lines while operating under private-equity intensity? And what kind of leadership does that require? In this special replay episode, I’m joined by the CEO of FDH Aero, Ian Walsh. We unpack how FDH Aero scaled to a billion dollars by mastering the parts that make flight possible. We also discuss why the next decade of aerospace growth may be less about building more airplanes and more about controlling the hardware layer beneath them. You’ll also learn: Why aerospace supply chains aren’t “recovering”; they’re structurally transforming How a single missing bolt can shut down a billion-dollar production line Why distribution is becoming a strategic layer, not just a transactional one The difference between organic growth and inorganic scale in a fragmented supply base How private equity is accelerating consolidation in aerospace and defense Why value creation in PE is about process discipline, not short-term spikes The leadership shift required when moving from public OEMs to PE-backed companies Why smaller, lighter, more electronic platforms will reshape parts demand Where the real upside sits: commercial, defense, business aviation, or emerging platforms How embedding into product development cycles creates long-term supply chain “stickiness.” The mindset difference between statistical improvement and “luck wrapped in chaos.” About the Guest Ian Walsh is the CEO of FDH Aero. He brings over 35 years of executive leadership across the U.S. Marine Corps, commercial and general aviation, defense, and industrial end markets to FDH. Most recently, Walsh served as Chairman, President, and Chief Executive Officer of Kaman Aerospace Corporation, a provider of highly engineered components and subsystems to commercial aviation, aerospace, defense, and medical end-markets. At Kaman, Walsh led the evolution of the global company into customer-centric operating segments. Before that, Walsh was COO at REV Group, Inc., a provider of specialty vehicles and related aftermarket parts, and spent more than 15 years in operational and P&L leadership at Textron, Inc. At both companies, Walsh drove new product development and process optimization. Earlier in his career, he served as an officer and naval aviator in the U.S. Marine Corps with combat tours in Somalia, Haiti, and Bosnia. He is a certified Six Sigma Black Belt in operations and continuous improvement. Connect with Ian on LinkedIn . About Your Host Craig Picken is an Executive Recruiter, writer, speaker, and ICF Trained Executive Coach. He is focused on recruiting senior-level leadership, sales, and operations executives in the aviation and aerospace industry. His clients include premier OEMs, aircraft operators, leasing/financial organizations, and Maintenance/Repair/Overhaul (MRO) providers. Since 2008, he has personally concluded more than 400 executive-level searches in a variety of disciplines. Craig is the ONLY industry executive recruiter who has professionally flown airplanes, sold airplanes, and successfully run a P&L in the aviation industry. His professional career started with a passion for airplanes. After eight years’ experience as a decorated Naval Flight Officer – with more than 100 combat missions, 2,000 hours of flight time, and 325 aircraft carrier landings – Craig sought challenges in business aviation, where he spent more than 7 years in sales with both Gulfstream Aircraft and Bombardier Business Aircraft. Craig is also a sought-after industry speaker who has presented at Corporate Jet Investor, International Aviation Women’s Association, and SOCAL Aviation Association. Resources For more aerospace industry news & commentary: https://craigpicken.com/insights/ . To learn more about Craig Picken, visit https://craigpicken.com/ .

What is the minimum level of leadership an aerospace company needs to survive constant change? Because technical excellence is not enough anymore. Aerospace and aviation companies are being pushed to move faster, scale highly specialized teams, cut through bureaucracy, and make decisions before every variable is known. But many are still promoting great engineers, operators, and technical specialists into management with almost no preparation for the job they are actually being asked to do. Then leadership wonders why information gets trapped, accountability disappears, teams slow down, and high performers burn out. That is the problem behind Matt Gjertsen’s concept of the Minimum Viable Manager. The name sounds modest. The standard is not. At a minimum, managers need to know how to build trust, set clear expectations, and give useful feedback. Without those fundamentals, all the talk about innovation, speed, ownership, and high performance is just noise. You cannot scale technical capability if the people leading it do not know how to align a team, push performance, or create the conditions for others to succeed. And this matters because the aerospace companies pulling ahead are not just hiring better talent. They are building cultures that can move. In this episode, I sit down with Matt, author of The Minimum Viable Manager and former Head of Training and Development at SpaceX. We talk about what aerospace companies can learn from SpaceX about hierarchy, ownership, and execution, and why technical expertise does not automatically produce strong leaders. We also discuss why companies that fail to develop managers alongside their workforce will eventually hit a wall. What You’ll Discover In This Episode Why aerospace companies need a practical definition of effective management How trust, clear expectations, and useful feedback support technical team performance Why strong engineers and operators often struggle when they move into management What SpaceX can teach aerospace leaders about hierarchy, ownership, and execution Why fast-moving companies organize work around outcomes rather than inherited processes How leaders can push technical teams beyond their comfort zones without creating burnout Why responsibility must be accompanied by the authority to make decisions What separates aerospace companies adapting to change from those slowed by bureaucracy Why scaling the industry’s technical workforce also requires developing capable managers About the Guest Matt Gjertsen is the founder of Built Leaders and the author of The Minimum Viable Manager. A former SpaceX learning and development leader, Air Force pilot, speaker, facilitator, and trainer, Matt helps innovative hard-tech companies build leaders capable of guiding teams through complex, high-stakes challenges. Through Built Leaders, he works with aerospace, defense, and energy companies to identify the leadership issues limiting team performance and develop practical, behavior-focused solutions. Over the past four years, his programs have trained hundreds of leaders across more than a dozen organizations. Connect with Matt on LinkedIn , visit https://www.amazon.com/Minimum-Viable-Manager-Essential-Technical/dp/1774587270/ref=sr_1_1 to grab a copy of Matt's new book. About Your Host Craig Picken is an Executive Recruiter, writer, speaker, and ICF-trained Executive Coach. He is focused on recruiting senior-level leadership, sales, and operations executives in the aviation and aerospace industry. His clients include premier OEMs, aircraft operators, leasing/financial organizations, and Maintenance/Repair/Overhaul (MRO) providers, and since 2008, he has personally concluded more than 400 executive-level searches in a variety of disciplines. Craig is the ONLY industry executive recruiter who has professionally flown airplanes, sold airplanes, and successfully run a P&L in the aviation industry. His professional career started with a passion for airplanes. After eight years’ experience as a decorated Naval Flight Officer – with more than 100 combat missions, 2,000 hours of flight time, and 325 aircraft carrier landings – Craig sought challenges in business aviation, where he spent more than 7 years in sales with both Gulfstream Aircraft and Bombardier Business Aircraft. Craig is also a sought-after industry speaker who has presented at Corporate Jet Investor, International Aviation Women’s Association, and SOCAL Aviation Association. Resources For more aerospace industry news & commentary: https://craigpicken.com/insights/ . To learn more about Craig Picken, visit https://craigpicken.com/ .

The aerospace supply chain does not only break at final assembly. Some of the most important pressure points sit much farther upstream, inside the specialized materials businesses; most of the industry only notices when something goes wrong. High-purity aluminum, specialty alloys, casting capacity, hedging, tariffs, geopolitical risk, and long-cycle inventory decisions all shape whether commercial aviation, defense, and space can keep moving. When demand rises or supply gets disrupted, companies like Vista Metals have to make decisions long before the rest of the market feels the impact. In this episode, I talk with Kelly Thomas, CEO of Vista Metals Group, about the hidden risks inside the aerospace materials supply chain and what it takes to lead a business where capacity, capital, talent, and timing all have to line up before the market is ready. What You’ll Discover In This Episode Why high-purity aluminum has become a critical supply chain issue for aerospace manufacturersHow tariffs, geopolitical risk, and smelter disruptions affect companies far upstream in the supply chain Why hedging can be a make-or-break discipline for companies carrying long-cycle metal inventory How privately held aerospace suppliers can make long-term investments differently from public companies Why Vista Metals has focused on hard alloys, specialty casting, and niche aerospace applications How commercial aviation, defense, and space demand are shaping Vista’s growth outlook Why smaller and privately owned companies often carry supply chain risk that the broader industry may underestimate What leaders need to understand about moving from a large public company environment into a smaller, operator-led business How Kelly Thomas thinks about leadership, feedback, communication, and building a no-politics culture Why sitting in uncertainty may be one of the most important leadership skills in a volatile aerospace market About the Guest Kelly Thomas is the President and CEO of Vista Metals, the world’s largest independent producer of specialty aluminum products for the aerospace, defense, transportation, and industrial sectors. A globally experienced executive with more than two decades in metals and manufacturing, Kelly has built her career at the intersection of finance, operations, commercial strategy, and industrial leadership. She brings deep expertise in global metals markets, risk management, and complex manufacturing environments, along with a values-driven leadership style focused on performance, innovation, and long-term growth. Before joining Vista Metals, Kelly held senior leadership roles at Alcoa and Aleris, where she helped drive global strategy, manage multi-billion-dollar operations, and lead large teams across North America and Europe through periods of transformation and growth. About Your Host Craig Picken is an Executive Recruiter, writer, speaker, and ICF-trained Executive Coach. He is focused on recruiting senior-level leadership, sales, and operations executives in the aviation and aerospace industry. His clients include premier OEMs, aircraft operators, leasing/financial organizations, and Maintenance/Repair/Overhaul (MRO) providers, and since 2008, he has personally concluded more than 400 executive-level searches in a variety of disciplines. Craig is the ONLY industry executive recruiter who has professionally flown airplanes, sold airplanes, and successfully run a P&L in the aviation industry. His professional career started with a passion for airplanes. After eight years’ experience as a decorated Naval Flight Officer – with more than 100 combat missions, 2,000 hours of flight time, and 325 aircraft carrier landings – Craig sought challenges in business aviation, where he spent more than 7 years in sales with both Gulfstream Aircraft and Bombardier Business Aircraft. Craig is also a sought-after industry speaker who has presented at Corporate Jet Investor, International Aviation Women’s Association, and SOCAL Aviation Association. Resources For more aerospace industry news & commentary: https://craigpicken.com/insights/. To learn more about Craig Picken, visit https://craigpicken.com/.

Private equity is no longer a small corner of the market that only dealmakers, investors, and portfolio executives need to understand. It is becoming one of the defining forces in business. More industries are being consolidated. More founder-led companies are being acquired. More executives are being recruited into PE-backed environments. And more leaders are finding themselves operating under a very different set of expectations, timelines, pressures, and performance standards than the ones they were trained for. That means the old “private equity is not my world” mindset is getting harder to maintain. You may sell your company to private equity. You may go work for a PE-backed business. You may be hired to lead one. Either way, it is becoming increasingly important to understand what this environment actually requires. Because private equity is not just a financial model. It is an operating environment. And in that environment, leadership gets tested quickly. The old playbook of buying a business, adding leverage, cutting costs, and exiting quickly is no longer enough. In today’s market, value has to be built. Leaders have to move fast without breaking the business. Founders have to navigate the shift from owner to employee. Boards have to apply pressure without creating misalignment. And executives have to prove they can create measurable results without relying on the systems, resources, and support structures they may have had in larger companies. In this episode, I’m joined by Maxwell Salazar, founder of Salazar Leadership Advisory. We talk about what private equity is really demanding from leaders today, what it takes to succeed in a PE-backed environment, why traditional executive hiring signals can be misleading, and how founders, boards, and operators should think about leadership in a market where private equity is no longer the exception; it is becoming part of the business landscape. What You’ll Discover In This Episode Why private equity is becoming a reality founders, executives, advisors, and operators need to understand How PE-backed environments differ from traditional corporate leadership roles Why the old private equity playbook of leverage, cost-cutting, and quick exits is no longer enough What leaders need to understand before stepping into a PE-backed company Why self-awareness, adaptability, and accountability matter so much under private equity pressure How founders can struggle with the shift from owner to employee after a transaction Why founder transitions are often emotional and psychological, not just operational How leaders can move quickly without triggering resistance inside the business Why boards need to be clear about the mandate before hiring a CEO, COO, CFO, or CRO What companies should actually assess for when choosing leaders for PE-backed environments Why prior PE experience, impressive logos, or successful exits can create false confidence How to tell the difference between someone who managed inside a system and someone who can build in a more ambiguous environment Why the best PE-backed leader may not always be the most charismatic or obvious candidate How board dynamics can either support an operator or make the role harder than it needs to be Why private equity can be one of the best environments for leadership growth, but only for people who understand the pressure, pace, and trade-offs involved. About the Guest Maxwell Salazar is the founder of Salazar Leadership Advisory, where he helps private equity firms make better leadership decisions across their portfolio companies. A business psychologist by training, Maxwell evaluates C-suite leaders, surfaces culture and execution risk, and helps investors understand whether the people they are hiring are equipped to lead through pressure, ambiguity, board scrutiny, and operational change. Before launching his advisory practice, Maxwell served as Head of Executive Assessment at AlixPartners, advising clients across hedge funds, investment banks, and PE-backed companies ranging from $100 million businesses to multibillion-dollar enterprises. In his work, Maxwell focuses on the human side of value creation: how leaders perform when the market shifts, the strategy meets resistance, or the boardroom pressure starts to rise. He helps investors and leadership teams look beyond pedigree, charisma, and past titles to better understand self-awareness, accountability, adaptability, culture fit, and the trade-offs that determine whether an executive can succeed in a private equity-backed environment. Connect with Maxwell on LinkedIn. About Your Host Craig Picken is an Executive Recruiter, writer, speaker, and ICF Trained Executive Coach. He is focused on recruiting senior-level leadership, sales, and operations executives in the aviation and aerospace industry. His clients include premier OEMs, aircraft operators, leasing/financial organizations, and Maintenance/Repair/Overhaul (MRO) providers, and since 2008, he has personally concluded more than 400 executive-level searches in a variety of disciplines. Craig is the ONLY industry executive recruiter who has professionally flown airplanes, sold airplanes, and successfully run a P&L in the aviation industry. His professional career started with a passion for airplanes. After eight years’ experience as a decorated Naval Flight Officer – with more than 100 combat missions, 2,000 hours of flight time, and 325 aircraft carrier landings – Craig sought challenges in business aviation, where he spent more than 7 years in sales with both Gulfstream Aircraft and Bombardier Business Aircraft. Craig is also a sought-after industry speaker who has presented at Corporate Jet Investor, International Aviation Women’s Association, and SOCAL Aviation Association. Resources For more aerospace industry news & commentary: https://craigpicken.com/insights/. To learn more about Craig Picken, visit https://craigpicken.com/.

Private aviation is no longer serving the same buyer, the same use case, or the same expectation set that it was built around twenty years ago. The old assumption was simple: private aviation was mainly for the already-initiated: aircraft owners, experienced charter users, corporate flight departments, or people who already understood the difference between aircraft categories, operating models, and access options. That market still exists, but a new buyer is entering the industry with a very different set of questions. They are wealthier, often younger, more digitally fluent, more time-sensitive, and in many cases completely new to private aviation. That is where the jet card model becomes more than a product. It becomes a bridge between commercial aviation frustration, fractional ownership, charter, corporate flying, and the growing demand for flexible, predictable private aviation access. In this episode, I’m joined by the CEO of Sentient Jet, Alan Walsh. We discuss how one of the original jet card companies is adapting to a changing private aviation market. We talk about how Sentient is thinking about AI, digital transformation, changing demographics, 135 lift, sustainability, World Cup demand, aircraft preferences, and why the future of private aviation may be less about luxury and more about utility, access, and time. What You’ll Discover In This Episode Why the jet card model remains attractive for new entrants who want private aviation access without aircraft ownership or long-term asset commitment How Sentient Jet is balancing digital convenience with a high-touch service model that still depends on human relationships Why Alan Walsh sees AI as an operational efficiency tool, not a replacement for client-facing service How private aviation demand is being shaped by commercial aviation disruption, reduced regional routes, and the need for better time control Why new private aviation users often need education before they need a sales pitch How changing wealth demographics are bringing younger, more digitally native buyers into the market Why bigger, newer, longer-range aircraft remain in demand and what that means for operators and aircraft availability How major events like the World Cup create sustained, multi-leg private aviation demand across several weeks Why sustainability is becoming a more visible consideration for private aviation customers What the industry may look like as technology, vertical integration, and more individualized access models continue to evolve About the Guest Alan Walsh is the President of Sentient Jet, where he is responsible for the overall growth, innovation, and success of the business. He has led the development and transformation of Sentient’s service organization while also helping shape the future of Owner Services at Flexjet. Alan has spent his career at the intersection of customer success, strategy, and client experience. He brings a customer-centric mindset and a strong track record of driving large-scale business, operational, and digital transformation across growth, M&A, turnaround, and AI-enabled strategy. Known for building high-performing teams and using data to improve customer outcomes, Alan brings a strategic view of how private aviation is evolving, from changing customer expectations and digital access to service consistency, safety, and the continued role of the jet card model in the market. Connect with Alan on LinkedIn. About Your Host Craig Picken is an Executive Recruiter, writer, speaker, and ICF Trained Executive Coach. He is focused on recruiting senior-level leadership, sales, and operations executives in the aviation and aerospace industry. His clients include premier OEMs, aircraft operators, leasing/financial organizations, and Maintenance/Repair/Overhaul (MRO) providers, and since 2008, he has personally concluded more than 400 executive-level searches in a variety of disciplines. Craig is the ONLY industry executive recruiter who has professionally flown airplanes, sold airplanes, and successfully run a P&L in the aviation industry. His professional career started with a passion for airplanes. After eight years’ experience as a decorated Naval Flight Officer – with more than 100 combat missions, 2,000 hours of flight time, and 325 aircraft carrier landings – Craig sought challenges in business aviation, where he spent more than 7 years in sales with both Gulfstream Aircraft and Bombardier Business Aircraft. Craig is also a sought-after industry speaker who has presented at Corporate Jet Investor, International Aviation Women’s Association, and SOCAL Aviation Association. Resources For more aerospace industry news & commentary: https://craigpicken.com/insights/. To learn more about Craig Picken, visit https://craigpicken.com/.

Business aviation has spent decades climbing the same performance ladder: more range, more speed, larger cabins, better engines, better avionics, and more capable aircraft. That evolution created the modern business jet market and pushed the high end into a category that would have been difficult to imagine when the first purpose-built business aircraft entered service. But the next era may not be defined by simply building a bigger airplane. With aircraft like the G800, Global 8000, and Falcon 10X, the upper end of the market is already approaching the practical limits of range, cabin size, and price. Supersonic business aviation remains difficult. New air vehicle concepts may be promising, but business aviation has historically prioritized performance, reliability, and mission utility over radical experimentation. That raises a more important question for business aviation leaders: where does meaningful differentiation come from next? In this episode, I continue the conversation with Kevin Michaels and Richard Aboulafia of AeroDynamic Advisory about Time Machines: Business Aviation’s Dynamic Journey. This second part looks at the future of the market: why the high end keeps marching upward, why the medium-cabin segment may need a new catalyst, how post-COVID usage patterns are changing ownership and operating models, and why the aircraft may increasingly be judged by what it enables onboard. What You’ll Discover In This Episode Why the ultra-long-range business jet market has continued to expand, even when many people once doubted there would be room for multiple players at the high end. How the G800, Global 8000, and Falcon 10X reflect the continued march toward larger, more capable, and more expensive business aircraft. Why business aviation may be approaching a point where range, speed, and cabin size are no longer enough to create meaningful differentiation. How onboard connectivity, virtual workspaces, interiors, avionics, and human-machine interface may become more important to the next era of business aircraft. Why radically new air vehicle concepts may be harder to justify in a market that has historically prioritized performance and mission utility over fuel-efficiency-led experimentation. What the continued rise of ultra-high-net-worth demand reveals about the top end of the business aviation market. Why the medium-cabin and “workaday” jet market may need a new catalyst as the high end keeps pulling away. How business aviation usage has changed since COVID, including the shift away from traditional ownership and toward fractional, managed aircraft, and Part 135 models. Why “business aviation as a service” may become a more important way to understand the market’s next phase. What leaders should watch as aircraft performance, ownership models, customer expectations, and onboard experience begin to define the next chapter of business aviation. About the Guests Richard Aboulafia is a Managing Director at AeroDynamic Advisory, a boutique aerospace and defense management consultancy based in Ann Arbor, Michigan. He is also a Special Advisor on Aerospace & Defense at Eurasia Group and a Fellow of the Royal Aeronautical Society. Since 1988, Richard has tracked aircraft programs, markets, and companies as an analyst and consultant, advising aerospace manufacturers, defense contractors, and financial institutions on commercial aviation, military aviation, and broader aerospace and defense market trends. Before joining AeroDynamic Advisory in 2022, he was Vice President of Analysis at Teal Group. Richard is also a widely published aviation and defense writer, with regular columns in Aviation Week & Space Technology and work appearing in outlets including Foreign Policy, Forbes, The Wall Street Journal, the Financial Times, Professional Pilot, and others. He is the co-author, with Kevin Michaels, of Time Machines: Business Aviation’s Dynamic Journey, a comprehensive look at the people, aircraft, technologies, business models, and market forces that shaped business aviation into the industry it is today. Connect with Richard on LinkedIn. Kevin Michaels is a Managing Director at AeroDynamic Advisory and a globally recognized expert in aerospace manufacturing, MRO, strategy, customer satisfaction, M&A advisory, technology assessment, and market analysis. Across his career, Kevin has advised leading aerospace OEMs, airlines, MRO providers, suppliers, and investors on the strategic and operational forces shaping the aerospace industry. Before AeroDynamic Advisory, he was Vice President in ICF International’s Aerospace & MRO consulting practice and co-founder of AeroStrategy, which was acquired by ICF. He also held roles with Rockwell Collins Government Systems, The Canaan Group, and aero-engine supplier Williams International. Kevin is a columnist for Aviation Week & Space Technology’s Up Front feature, a contributing columnist to Inside MRO and Forbes, and chairs the Industry Advisory Board for the University of Michigan’s Aerospace Engineering Department. He is also the author of AeroDynamic: Inside the High-Stakes Global Jetliner Ecosystem, winner of the 2019 Choice Outstanding Academic Title Award. Connect with Kevin on LinkedIn. Buy the book Time Machines: Business Aviation’s Dynamic Journey on Amazon. About Your Host Craig Picken is an Executive Recruiter, writer, speaker, and ICF Trained Executive Coach. He is focused on recruiting senior-level leadership, sales, and operations executives in the aviation and aerospace industry. His clients include premier OEMs, aircraft operators, leasing/financial organizations, and Maintenance/Repair/Overhaul (MRO) providers, and since 2008, he has personally concluded more than 400 executive-level searches in a variety of disciplines. Craig is the ONLY industry executive recruiter who has professionally flown airplanes, sold airplanes, and successfully run a P&L in the aviation industry. His professional career started with a passion for airplanes. After eight years’ experience as a decorated Naval Flight Officer – with more than 100 combat missions, 2,000 hours of flight time, and 325 aircraft carrier landings – Craig sought challenges in business aviation, where he spent more than 7 years in sales with both Gulfstream Aircraft and Bombardier Business Aircraft. Craig is also a sought-after industry speaker who has presented at Corporate Jet Investor, International Aviation Women’s Association, and SOCAL Aviation Association. Resources For more aerospace industry news & commentary: https://craigpicken.com/insights/. To learn more about Craig Picken, visit https://craigpicken.com/.

Business aviation is often misunderstood because the aircraft are the most visible part of the story. The brands, the cabins, the speed, the ramp presence, and the culture around private aircraft tend to dominate the public imagination. But the industry was not built around image. It was built around utility. From the early aircraft companies in Wichita to the postwar expansion of aviation infrastructure, from Gulfstream’s focus on reliability and customer support to Learjet’s cultural impact, from Cessna’s utilitarian approach to the Falcon 20’s role in the early FedEx story, business aviation evolved around one central promise: giving people and companies control over time. In this episode, I talk with Kevin Michaels and Richard Aboulafia of AeroDynamic Advisory about their book, Time Machines: Business Aviation’s Dynamic Journey. Kevin and Richard trace the forces that shaped the business aviation market across decades. The deeper story is not simply how business jets became faster, more capable, or more recognizable. It is how business aviation became an operating system for access, connecting companies, communities, executives, pilots, manufacturers, service networks, and airports in a way the scheduled airline system never could. You’ll also learn; How Wichita became one of the most important centers in aviation history Why World War II accelerated the business aviation ecosystem by creating pilots, mechanics, infrastructure, air traffic control, and mission familiarity. How early business aviation moved from converted aircraft and surplus DC-3s into purpose-built turbine-powered aircraft. Why Gulfstream’s early success was rooted in understanding the customer's mission: short-field access, reliability, dispatch performance, and customer support. How Learjet became the cultural shorthand for business jets through design, performance, Hollywood visibility, and Bill Lear’s marketing instincts. Why Cessna’s slower, more utilitarian Citation strategy became a winning formula for customers who valued functionality and reliability over pure speed. How Dassault’s Falcon 20 gained early momentum through Pan Am, Charles Lindbergh, Federal Express, and the U.S. Coast Guard. Why engine technology repeatedly expanded what business aviation could become. How fractional ownership changed business aviation by opening access beyond traditional whole-aircraft ownership and flight departments. Why general aviation, airport infrastructure, advocacy, and regulation remain foundational to the health of the business aviation industry. About the Guests Richard Aboulafia is a Managing Director at AeroDynamic Advisory, a boutique aerospace and defense management consultancy based in Ann Arbor, Michigan. He is also a Special Advisor on Aerospace & Defense at Eurasia Group and a Fellow of the Royal Aeronautical Society. Since 1988, Richard has tracked aircraft programs, markets, and companies as an analyst and consultant, advising aerospace manufacturers, defense contractors, and financial institutions on commercial aviation, military aviation, and broader aerospace and defense market trends. Before joining AeroDynamic Advisory in 2022, he was Vice President of Analysis at Teal Group. Richard is also a widely published aviation and defense writer, with regular columns in Aviation Week & Space Technology and work appearing in outlets including Foreign Policy, Forbes, The Wall Street Journal, the Financial Times, Professional Pilot, and others. He is the co-author, with Kevin Michaels, of Time Machines: Business Aviation’s Dynamic Journey, a comprehensive look at the people, aircraft, technologies, business models, and market forces that shaped business aviation into the industry it is today. Connect with Richard on LinkedIn. Kevin Michaels is a Managing Director at AeroDynamic Advisory and a globally recognized expert in aerospace manufacturing, MRO, strategy, customer satisfaction, M&A advisory, technology assessment, and market analysis. Across his career, Kevin has advised leading aerospace OEMs, airlines, MRO providers, suppliers, and investors on the strategic and operational forces shaping the aerospace industry. Before AeroDynamic Advisory, he was Vice President in ICF International’s Aerospace & MRO consulting practice and co-founder of AeroStrategy, which was acquired by ICF. He also held roles with Rockwell Collins Government Systems, The Canaan Group, and aero-engine supplier Williams International. Kevin is a columnist for Aviation Week & Space Technology’s Up Front feature, a contributing columnist to Inside MRO and Forbes, and chairs the Industry Advisory Board for the University of Michigan’s Aerospace Engineering Department. He is also the author of AeroDynamic: Inside the High-Stakes Global Jetliner Ecosystem, winner of the 2019 Choice Outstanding Academic Title Award. Connect with Kevin on LinkedIn. Buy the book Time Machines: Business Aviation’s Dynamic Journey on Amazon. About Your Host Craig Picken is an Executive Recruiter, writer, speaker, and ICF Trained Executive Coach. He is focused on recruiting senior-level leadership, sales, and operations executives in the aviation and aerospace industry. His clients include premier OEMs, aircraft operators, leasing/financial organizations, and Maintenance/Repair/Overhaul (MRO) providers, and since 2008, he has personally concluded more than 400 executive-level searches in a variety of disciplines. Craig is the ONLY industry executive recruiter who has professionally flown airplanes, sold airplanes, and successfully run a P&L in the aviation industry. His professional career started with a passion for airplanes. After eight years’ experience as a decorated Naval Flight Officer – with more than 100 combat missions, 2,000 hours of flight time, and 325 aircraft carrier landings – Craig sought challenges in business aviation, where he spent more than 7 years in sales with both Gulfstream Aircraft and Bombardier Business Aircraft. Craig is also a sought-after industry speaker who has presented at Corporate Jet Investor, International Aviation Women’s Association, and SOCAL Aviation Association. Resources For more aerospace industry news & commentary: https://craigpicken.com/insights/. To learn more about Craig Picken, visit https://craigpicken.com/.

In aerospace, we talk a lot about “the future of flight.” But most of that conversation has been driven by fantasy. Fully electric aircraft that can’t fly far enough, and technologies that look good in a render but can’t sustain the physics or economics of real aviation. That’s why what Electra Aero is building feels like the first practical revolution in modern air mobility. It’s not about escaping airports altogether; it’s about rethinking what access to the air actually means. A platform that combines the short-range flexibility of a helicopter with the efficiency, speed, and safety of a fixed-wing aircraft. A system that can land in 150 feet, carry nine passengers, and fly 1,000 miles…all at a cost per seat mile that rivals a Cessna Caravan. In other words, not a science experiment, but an aircraft for both the Pentagon and Palm Springs. When you look at the infrastructure, the capital, and the technology now converging, from turbo generators to hybrid propulsion, it’s clear the “inflection point” for advanced air mobility is already here. The question isn’t if we’ll see it, but when the iceberg breaks the surface and everyone suddenly realizes how much has already been built underneath. What makes this design different enough for the Department of Defense to back it, and powerful enough to fly missions no existing aircraft can? In this special replay episode, the CEO of Electra Aero, Mark Allen, joins me to dive into what it takes to turn an experimental prototype into a scalable aircraft production company. We also discuss how hybrid-electric flight could redefine how people and goods move between cities in the next decade. You’ll learn: Why “payload-to-range” is the real metric that will define the winners in advanced air mobility How Electra’s hybrid-electric system radically cuts maintenance and lifecycle costs Why vertical takeoff isn’t the future, ultra-short takeoff and landing is How runway independence could transform both defense logistics and civilian travel What it takes to fund deep-tech aviation in a VC world built for SaaS Why the next big shift in aerospace will feel like a “ketchup bottle” moment: slow, then all at once How leadership and team “swing” drive complex innovation when the mission is bigger than any one person About the Guest: Marc Allen is the CEO of Electra Aero. At Electra, Marc is leading the charge in developing hybrid-electric Ultra Short aircraft to define the next level of seamless air travel connectivity. Through direct aviation, Electra is bringing air travel closer to where people live, work, and play – without airports, emissions, or noise. ‍Marc joined Electra after a distinguished career at The Boeing Company, where he held several key leadership roles, including Chief Strategy Officer and Senior Vice President for Strategy and Corporate Development. He led the $5 billion customer finance business before spending nearly a decade on Boeing's Executive Council, where he served as President of Boeing International and oversaw critical enterprise-wide functions. As head of all venture businesses, he led Wisk Aero’s restructuring and full acquisition, focusing on the future of autonomous flight and serving as Chairman. Other roles at Boeing included President of the Embraer Partnership, President of Boeing China, and General Counsel of Boeing International. To learn more, go to http://electra.aero/ or connect with Marc on LinkedIn . About your Host: Craig Picken is an Executive Recruiter, writer, speaker, and ICF Trained Executive Coach. He is focused on recruiting senior-level leadership, sales, and operations executives in the aviation and aerospace industry. His clients include premier OEMs, aircraft operators, leasing/financial organizations, and Maintenance/Repair/Overhaul (MRO) providers, and since 2008, he has personally concluded more than 400 executive-level searches in a variety of disciplines. Craig is the ONLY industry executive recruiter who has professionally flown airplanes, sold airplanes, and successfully run a P&L in the aviation industry. His professional career started with a passion for airplanes. After eight years’ experience as a decorated Naval Flight Officer – with more than 100 combat missions, 2,000 hours of flight time, and 325 aircraft carrier landings – Craig sought challenges in business aviation, where he spent more than 7 years in sales with both Gulfstream Aircraft and Bombardier Business Aircraft. Craig is also a sought-after industry speaker who has presented at Corporate Jet Investor, International Aviation Women’s Association, and SOCAL Aviation Association. Resources: For more aerospace industry news & commentary: https://craigpicken.com/insights/ . To learn more about Craig Picken, visit https://craigpicken.com/ . Check out this episode on our website , Apple Podcasts , or Spotify , and don't forget to leave a review if you like what you heard. Your review feeds the algorithm, so our show reaches more people. Thank you!

Defense is not just changing because the technology is changing. It is changing because the old way of buying, building, funding, and deploying that technology no longer matches the speed of the threat. For decades, aerospace and defense have been built around massive programs, long procurement cycles, and the assumption that the government could define a requirement, put it out to bid, and eventually get the capability into the hands of the warfighter. But Ukraine, Iran, China, unmanned systems, AI, cyber, and contested logistics have made one thing clear: “eventually” is no longer good enough. The next era will not be defined by one platform or one prime. It will be defined by systems, speed, supply chains, and the middle-market companies that can actually execute. Private equity is moving in, and venture capital is trying to understand defense tech. The primes are being forced to rethink what they build, buy, and divest. And founders who survived years of disruption are now sitting on businesses that may be more valuable than ever. Meghan Welch has a front-row view of all of it. As an investment banker focused on aerospace and defense, she joins me to break down why the industry is in the early innings of a major M&A boom, why the middle market has become the engine of the Defense Industrial Base, and why the companies that can scale, execute, and solve real bottlenecks may define the next era of American defense. You’ll also learn; Why defense is moving away from single-platform thinking and toward systems, software, unmanned technology, and cross-domain capability How Ukraine, Iran, China, AI, cyber, and contested logistics are reshaping the way the industry thinks about future warfare Why traditional defense procurement has struggled to keep pace with commercial technology What OTAs, gauntlet-style competitions, and faster acquisition models mean for defense tech companies Why private capital needs stronger, multi-year demand signals before it can fully lean into national security technology Why the middle market has become the engine of the Defense Industrial Base What private equity sees in aerospace and defense, and why the sector is being treated as a safe-haven investment Why large primes may need to rethink bureaucracy, acquisitions, venture arms, and divestitures How dual-use technology, from Joby to SpaceX, could shape the future of defense logistics, launch, range, and payload Why energetics, precision manufacturing, MRO, maritime, and labor constraints are becoming critical investment and national security issues About the Guest Meghan Welch is the Managing Director of Brown Gibbons Lang & Company (BGL). Brown Gibbons Lang & Company (BGL) is a leading independent investment bank and financial advisory firm focused on the global middle market. The firm advises private and public corporations and private equity groups on mergers and acquisitions, divestitures, capital markets, financial restructurings, valuations and opinions, and other strategic matters. BGL has investment banking offices in Chicago, Cleveland, Los Angeles, Boston, and New York, and real estate offices in Chicago and Cleveland. The firm is also a founding member of REACH Cross-Border Mergers & Acquisitions, enabling BGL to service clients in 30 countries around the world. For more information, visit www.bglco.com or connect with Meghan on LinkedIn . About Your Host Craig Picken is an Executive Recruiter, writer, speaker, and ICF Trained Executive Coach. He is focused on recruiting senior-level leadership, sales, and operations executives in the aviation and aerospace industry. His clients include premier OEMs, aircraft operators, leasing/financial organizations, and Maintenance/Repair/Overhaul (MRO) providers, and since 2008, he has personally concluded more than 400 executive-level searches in a variety of disciplines. Craig is the ONLY industry executive recruiter who has professionally flown airplanes, sold airplanes, and successfully run a P&L in the aviation industry. His professional career started with a passion for airplanes. After eight years’ experience as a decorated Naval Flight Officer – with more than 100 combat missions, 2,000 hours of flight time, and 325 aircraft carrier landings – Craig sought challenges in business aviation, where he spent more than 7 years in sales with both Gulfstream Aircraft and Bombardier Business Aircraft. Craig is also a sought-after industry speaker who has presented at Corporate Jet Investor, International Aviation Women’s Association, and SOCAL Aviation Association. For more aerospace industry news & commentary: https://craigpicken.com/insights/ . To learn more about Craig Picken, visit https://craigpicken.com/ . Check out this episode on our website , Apple Podcasts , or Spotify , and don't forget to leave a review if you like what you heard. Your review feeds the algorithm, so our show reaches more people. Thank you!

Private equity is often talked about like it’s either a villain or a jackpot. Founders fear it, corporate executives romanticize it, employees hear horror stories, and everyone seems to have an opinion about what happens when PE walks into a business. But that framing misses the bigger shift happening across American industry. Private equity is no longer some niche financial corner of the market. It has become one of the most powerful forces shaping who owns companies, how businesses scale, how executives are evaluated, and how wealth gets created. The misconception is that PE is simply about financial engineering. But the real story is execution. In a PE-backed company, the pace changes, scoreboard, and expectations change. You’re no longer running a comfortable, founder-dependent business or managing a narrow slice of a giant corporate machine. You’re being asked to build value quickly, professionally, and repeatedly. But for the people who can make that transition, the opportunity is enormous. Private equity can give founders a way to take chips off the table without walking away from the business they built. It can help executives move from earning a comfortable income to building real wealth. And it can turn unglamorous, overlooked industries like aerospace suppliers and manufacturing businesses into serious wealth-building platforms. In this episode, I sit down with Adam Coffey, a veteran private equity CEO, author of The Private Equity Playbook, and operator behind more than $2.5 billion in exits as a CEO. We talk about what private equity actually demands from founders and executives, why so many people misunderstand the opportunity, and what it really takes to survive and win in a PE-backed environment. You’ll also learn; Why private equity has become one of the biggest forces shaping modern business ownership What it means to treat business like a professional sport Why many founders do not survive the first PE hold period How selling to private equity changes your role from owner to shareholder, employee, and partner Why the founder mentality that built the company can eventually become the thing that limits it Why PE firms want process, leadership depth, and scalable systems, not founder heroics What Adam calls the “rule of 130,” and why it matters for founder risk The difference between being a platform company and an add-on acquisition What Fortune 500 executives often get wrong about moving into private equity Why “boring” industries often create more wealth than glamorous corporate careers About the Guest Adam Coffey is a CEO, board member, best-selling author, and acclaimed international speaker. He is a visionary leader who drives transformative growth and fosters high-performance cultures. With 25+ years of experience as CEO, Adam built 4 companies for 9 private equity firms. During this time period, he completed 58 acquisitions; his track record includes notable outcomes measured in the billions, averaging 4x MOIC at exit. Adam is a respected mentor to MBA candidates and a sought-after speaker at top business schools. He brings diverse expertise from commercial and industrial service businesses, alongside being a licensed general contractor, pilot, former GE executive, and US Army veteran. As an author, Adam's books "The Private Equity Playbook" (2019)(2024), "The Exit Strategy Playbook" (2021), and Empire Builder (2023) all became #1 Amazon Best Sellers. Recognized as one of the "Most Influential Leaders" by the Orange County, CA Business Journal (4x), he founded the CEO Advisory Guru in 2021, providing consulting services to private equity firms, their portfolio companies, and to founders. Connect with Adam on LinkedIn . About Your Host Craig Picken is an Executive Recruiter, writer, speaker, and ICF Trained Executive Coach. He is focused on recruiting senior-level leadership, sales, and operations executives in the aviation and aerospace industry. His clients include premier OEMs, aircraft operators, leasing/financial organizations, and Maintenance/Repair/Overhaul (MRO) providers, and since 2008, he has personally concluded more than 400 executive-level searches in a variety of disciplines. Craig is the ONLY industry executive recruiter who has professionally flown airplanes, sold airplanes, and successfully run a P&L in the aviation industry. His professional career started with a passion for airplanes. After eight years’ experience as a decorated Naval Flight Officer – with more than 100 combat missions, 2,000 hours of flight time, and 325 aircraft carrier landings – Craig sought challenges in business aviation, where he spent more than 7 years in sales with both Gulfstream Aircraft and Bombardier Business Aircraft. Craig is also a sought-after industry speaker who has presented at Corporate Jet Investor, International Aviation Women’s Association, and SOCAL Aviation Association. For more aerospace industry news & commentary: https://craigpicken.com/insights/ . To learn more about Craig Picken, visit https://craigpicken.com/ .

The space industry is treated like it’s a collection of launches - rockets, satellites, new vehicles, and programs. But that framing misses what’s actually being built right now and how significant it is. What’s happening in space is not just a launch boom. It’s the early construction of a permanent logistics and infrastructure layer that will eventually make access to orbit feel normal, repeatable, and almost invisible. The same way we stop thinking about the shipping routes behind Amazon deliveries or the cargo planes moving goods across continents, future businesses won’t obsess over which rocket carried their payload. They’ll care about reliability, timing, orbit, and outcomes. That shift changes the role companies like Exolaunch play in the market. They are not simply “booking rides” to space. They’re helping create the connective tissue between launch providers, satellite operators, insurers, regulators, logistics systems, and the growing commercial demand for orbital infrastructure. And as launch capacity remains constrained, that coordination layer becomes incredibly valuable. One of the most overlooked dynamics in space right now is that demand is no longer the problem. The real bottleneck is orchestration. There are more satellites, more commercial applications, more defense use cases, more data demands, and more infrastructure ambitions than the market can currently support. Launch windows are getting booked years in advance. Entire business models now depend on access to orbit. And increasingly, companies are realizing that flexibility matters more than loyalty to any single launch provider. In this episode, I sit down with Dr. Robert Sproles, CEO of Exolaunch, to talk about what this next phase of the space economy actually looks like. We unpack why launch is becoming an infrastructure business, how Exolaunch built a global launch integration company without venture capital, and what most people misunderstand about how commercial space is evolving. You’ll also learn: Why the biggest story in space is not rockets, but infrastructure What “launch-constrained” really means, and why demand still exceeds available capacity Why launch availability is starting to resemble supply chain and logistics management How Exolaunch became a critical coordination layer between launch providers and satellite companies Why future space customers may stop caring which rocket carries their payload How launch integration is evolving into a full-service ecosystem, including insurance, customs, tariffs, logistics, and mission planning Why launch flexibility matters more than locking into a single provider What happens when launch providers prioritize their own internal programs over commercial availability Why some launch vehicles are booked years into the future How the growth of orbital infrastructure mirrors the historical buildout of railroads, shipping, and aviation Why “up mass” and “down mass” are becoming equally important commercial opportunities How returning material from orbit could unlock entirely new manufacturing markets Why Europe’s engineering ecosystem helped Exolaunch scale efficiently without heavy VC funding What bootstrapped growth looks like inside a capital-intensive industry How Exolaunch uses aggregation to reduce risk for both launch providers and satellite operators Why passion and curiosity matter more than resumes in fast-moving aerospace environments What the next 10–20 years of commercial space infrastructure could look like if current trends continue About the Guest Dr. Robert Sproles is the CEO of Exolaunch. Exolaunch is a global leader in launch mission management, satellite integration, and satellite deployment technologies. With a decade of flight heritage and 650+ satellites launched across 41 missions to date, Exolaunch leverages industry insight to tailor turnkey solutions that meet customer needs and respond to market trends. Exolaunch fulfills launch contracts for industry leaders, the world's most innovative startups, research institutions, government organizations, and international space agencies. The company develops and manufactures its own flight-proven, industry-leading satellite separation systems and payload launch stacks, with the fastest-growing heritage in the market. Exolaunch, headquartered in Germany, operates globally with offices in the US, France, and Japan. Exolaunch promotes safe, sustainable, and responsible use of space and is committed to making space accessible for all. With over 20 years of experience in engineering leadership, Robert is passionate about strategic planning and developing technical capabilities at scale. To learn more, visit https://www.exolaunch.com/ and connect with him on LinkedIn . About Your Host Craig Picken is an Executive Recruiter, writer, speaker, and ICF Trained Executive Coach. He is focused on recruiting senior-level leadership, sales, and operations executives in the aviation and aerospace industry. His clients include premier OEMs, aircraft operators, leasing/financial organizations, and Maintenance/Repair/Overhaul (MRO) providers, and since 2008, he has personally concluded more than 400 executive-level searches in a variety of disciplines. Craig is the ONLY industry executive recruiter who has professionally flown airplanes, sold airplanes, and successfully run a P&L in the aviation industry. His professional career started with a passion for airplanes. After eight years’ experience as a decorated Naval Flight Officer – with more than 100 combat missions, 2,000 hours of flight time, and 325 aircraft carrier landings – Craig sought challenges in business aviation, where he spent more than 7 years in sales with both Gulfstream Aircraft and Bombardier Business Aircraft. Craig is also a sought-after industry speaker who has presented at Corporate Jet Investor, International Aviation Women’s Association, and SOCAL Aviation Association. Check out this episode on our website , Apple Podcasts , or Spotify , and don't forget to leave a review if you like what you heard. Your review feeds the algorithm, so our show reaches more people. Thank you! For more aerospace industry news & commentary: https://craigpicken.com/insights/ . To learn more about Craig Picken, visit https://craigpicken.com/ .

Oil is $100, airline losses are starting to show up, and Spirit’s collapse is exposing just how hard it is to run an ultra-low-cost model when low cost has disappeared. Any one of those signals could make buyers cautious. Taken together, they should raise a bigger question: why are buyers inside middle-market aerospace and defense still leaning in? Public aerospace companies are still trading at strong multiples. Strategics still have currency. Private equity is still chasing platforms. Founder-owned businesses with real capabilities are still getting serious attention. Middle-market aerospace may be feeling pressure, but it is not behaving like a fragile market. What makes this part of the industry so unusual is that value is not tied to one clean growth story. Commercial airlines may be exposed to fuel prices. Ultra-low-cost carriers may struggle when “low cost” disappears from the system. But the middle market is full of companies supporting business aviation, defense, engine work, MRO, parts, certifications, and long-standing product lines that remain incredibly hard to replace. This is why buyers are not just chasing growth. They are chasing durability. In a world where many sectors are being disrupted quickly, aerospace and defense still reward businesses that can do difficult, regulated, safety-critical work consistently. In this episode, I sit down with Bill Alderman for our 300th episode of the Aerospace Executive podcast and for Bill’s 25th year in the business. In this conversation, we unpack what the market is really telling us right now: where the strength is real, where the risks are starting to show, and why the best buyers in this industry still understand something tourists often miss: that aerospace rewards people who think long term. You’ll also learn; Why $100 oil is not an immediate market killer, but could become a serious drag if it stays elevated What airline losses may be signaling, and why Spirit’s collapse is not necessarily the canary in the coal mine Why rich public market multiples give aerospace buyers more room to pay attractive prices How business aviation flight hours, fractional ownership, and OEM backlogs are strengthening the aftermarket story Why “capacity,” maintenance demand, and physical capability continue to matter in an AI-disrupted economy What makes aerospace and defense more durable than many other sectors Why carve-outs and spin-offs can unlock focus, energy, and operational performance How companies can become too large and lose the focus that made individual divisions valuable Why brands like Bendix, Slick, and other long-standing product names still carry enormous value in the maintenance hangar What private equity “tourists” often misunderstand about aerospace and defense Why industry knowledge matters when owning companies that support safety-critical systems The difference between making money in aerospace and respecting the long-term responsibility that comes with owning aerospace assets About the Guest William H. Alderman (Bill) is the Founding Partner of Alderman & Company. Bill is an M&A specialist in the middle market of the aerospace and defense industry with over $2 billion in mergers and acquisition-related transactions to his name. Before founding Alderman & Company in 2001, Bill worked for 15 years on Wall Street and in the Aerospace & Defense Industry, principally on M&A transactions in the middle market. His employers included BT Securities, Fieldstone, and General Electric. Bill is a Securities Principal registered with the Financial Industry Regulatory Authority (“FINRA”) and has four securities industry licenses (Series 7, 24, 63, and 65). Bill is a commercial pilot and owns and operates a Cirrus SR22. URL Link: https://www.aldermanco.com/ LinkedIn - https://www.linkedin.com/in/williamalderman/ About Your Host Craig Picken is an Executive Recruiter, writer, speaker, and ICF-trained Executive Coach. He is focused on recruiting senior-level executives in sales and operations across the aviation and aerospace industry. His clients include premier OEMs, aircraft operators, leasing/financial organizations, and Maintenance/Repair/Overhaul (MRO) providers. Since 2008, he has personally concluded more than 400 executive-level searches in a variety of disciplines. Craig is the ONLY industry executive recruiter who has professionally flown airplanes, sold airplanes, and successfully run a P&L in the aviation industry. His professional career started with a passion for airplanes. After eight years’ experience as a decorated Naval Flight Officer – with more than 100 combat missions, 2,000 hours of flight time, and 325 aircraft carrier landings – Craig sought challenges in business aviation, where he spent more than 7 years in sales with both Gulfstream Aircraft and Bombardier Business Aircraft. Craig is also a sought-after industry speaker who has presented at Corporate Jet Investor, the International Aviation Women’s Association, and the SOCAL Aviation Association.

Aerospace has always been a cyclical industry, one sector up, another down, capital moving cautiously between them. That’s not what’s happening right now. Every major sector is ripping at the same time, for completely different reasons. Commercial is coming back online. Aftermarket and MRO have been running hot since COVID. Defense is being pulled forward by geopolitical demand. Business aviation has settled into a stronger, more stable “new normal.” It’s rare to see this kind of synchronized momentum across the entire ecosystem, and when it happens, it changes how capital behaves. For years, aerospace exits were predictable. You built a solid business, ran an M&A process, and sold. IPOs were barely part of the conversation. Industrial manufacturing wasn’t exactly exciting to public market investors. Now, IPOs are not only viable, but they’re also often the better option. Industrial businesses that used to be seen as slow, capital-heavy, and unsexy are suddenly being revalued as AI-proof, infrastructure-critical, and in some cases, direct beneficiaries of the AI boom. And that shift is forcing a new level of sophistication from operators. Because today, you’re not just deciding whether to sell; you’re deciding how to exit in a market with more options than ever before. Traditional M&A, IPOs, continuation vehicles—paths that barely existed or weren’t taken seriously six or seven years ago are now all on the table at the same time. At the same time, there’s a quiet risk underneath all of this. Fuel prices, geopolitical instability, and supply chain pressure. None of these have gone away. So the question isn’t just how long this run continues; it’s whether operators are actually prepared for the version of the market we’re in now. In this episode, I’m joined by the Global Head of Aerospace and Aviation Investment Banking at Jefferies, Nick Fazioli. He breaks down what’s really driving this moment across aviation, defense, and industrials, and what it means for operators thinking about growth, capital, and exit strategy in a market that looks very different from it did just a few years ago. You’ll also learn; The unexpected shift: how “boring” industrial manufacturing became one of the most attractive investment categories Why IPOs are suddenly back, and in some cases outperforming traditional M&A exits How AI is indirectly reshaping aerospace valuations through energy, infrastructure, and supply chain demand The rise of continuation vehicles and why operators now have more exit paths than ever before Where private equity and institutional capital are actually placing bets right now (and why MRO is so competitive) The hidden risks: fuel prices, geopolitics, and consumer pressure, and how quickly they could impact the system Why operators need to become far more strategic, not just in building businesses, but in positioning them for exit About the Guest Nick Fazioli is the Global Head of Aerospace and Aviation Investment Banking at Jefferies, where he leads one of the most active practices across commercial aviation, business aviation, and aerospace services. Over the past 16 years, he’s been at the center of some of the most significant transactions in business aviation, including the sale of Marquis Jet to NetJets and West Star Aviation’s exit to Greenbriar Equity Group. With a front-row seat to M&A, capital markets, and the evolving investor landscape, Nick brings a unique perspective on where capital is flowing and how operators should be thinking about growth and exit strategy in today’s market. Connect with Nick on LinkedIn . About Your Host Craig Picken is an Executive Recruiter, writer, speaker, and ICF Trained Executive Coach. He is focused on recruiting senior-level leadership, sales, and operations executives in the aviation and aerospace industry. His clients include premier OEMs, aircraft operators, leasing/financial organizations, and Maintenance/Repair/Overhaul (MRO) providers, and since 2008, he has personally concluded more than 400 executive-level searches in a variety of disciplines. Craig is the ONLY industry executive recruiter who has professionally flown airplanes, sold airplanes, and successfully run a P&L in the aviation industry. His professional career started with a passion for airplanes. After eight years’ experience as a decorated Naval Flight Officer – with more than 100 combat missions, 2,000 hours of flight time, and 325 aircraft carrier landings – Craig sought challenges in business aviation, where he spent more than 7 years in sales with both Gulfstream Aircraft and Bombardier Business Aircraft. Craig is also a sought-after industry speaker who has presented at Corporate Jet Investor, International Aviation Women’s Association, and SOCAL Aviation Association. For more aerospace industry news & commentary: https://craigpicken.com/insights/ . To learn more about Craig Picken, visit https://craigpicken.com/ .

Most operators think insurance is about protection. Buy a policy, transfer the risk, move on. But what if that model is quietly draining your margins instead of protecting them? Because here’s the reality: in aviation, it’s not the catastrophic losses that kill your business; it’s everything else. The unexpected maintenance event that isn’t covered. The operational hiccups you don’t want to claim. The hangar rash that never makes it to a claim, and you just absorb it. The constant, low-level financial hits that feel too small to insure but too frequent to ignore. Over time, it’s death by a thousand cuts, and traditional insurance was never built to solve that. What’s starting to emerge instead is a different mindset: stop thinking of insurance purely as a cost center, and start treating it as a financial strategy. Not to replace the traditional market, but to take back control of everything it leaves behind. Because when you structure it right, the same dollars you’re used to losing can actually compound back into your business, building reserves, improving margins, and turning risk management into a profit lever instead of a drain. That’s exactly what captive insurance allows operators to do: take control of the risks traditional aviation insurance won’t cover and structure them in a way that actually works for the business. John C. Averill and Andy Shuttleworth are two experts working at the intersection of aviation risk and captive insurance. In this episode, we talk about how operators can formalize self-insurance, why most people misunderstand what captives actually are, and how some businesses are quietly using them to retain profits, smooth volatility, and build long-term financial resilience. You’ll also learn; Why the real financial pressure in aviation doesn’t come from where most operators think What actually sits outside traditional aviation insurance and why it matters more than it seems The shift from transferring risk to structuring it How some operators are starting to take control of costs they’ve always absorbed Why certain risks never make it into a policy and what can be done about them The difference between reacting to losses and designing for them Why the most sophisticated companies approach insurance very differently What changes when risk starts to show up on your balance sheet instead of someone else’s How to think about control, claims, and costs in a completely different way Why this isn’t a short-term fix, and what happens if you commit to it Where this approach extends beyond aviation into broader operational risk The biggest misconception about captives and why most people misunderstand them About the Guests John C. Averill is a Senior Vice President and risk advisor specializing in aviation, aerospace, and defense. His work sits at the intersection of operational risk, insurance, and legal frameworks, allowing him to design highly tailored solutions for complex exposures that traditional brokerage models often miss. With additional expertise in professional liability and environmental underwriting, John brings a broader, more integrated lens to risk, helping operators structure programs that go beyond standard coverage. He is part of a senior-level team with over 100 years of combined experience in insurance and risk management, including more than 50 years focused specifically on aerospace. Connect with John on LinkedIn . Andy Shuttleworth is a Risk Management and Regulatory Compliance Consultant and the founder of Core Resilience LLC. With over 35 years of experience across federal and state agencies, he brings a deeply practical understanding of how risk, compliance, and operations intersect. Andy works with businesses to assess and strengthen their regulatory compliance, threat mitigation, and risk management strategies, offering an independent, unbiased perspective on where systems break down and how to improve them. His focus is on helping organizations protect not just their assets, but their long-term operational resilience and reputation. Connect with Andy on LinkedIn . About Your Host Craig Picken is an Executive Recruiter, writer, speaker, and ICF Trained Executive Coach. He is focused on recruiting senior-level leadership, sales, and operations executives in the aviation and aerospace industry. His clients include premier OEMs, aircraft operators, leasing/financial organizations, and Maintenance/Repair/Overhaul (MRO) providers, and since 2008, he has personally concluded more than 400 executive-level searches in a variety of disciplines. Craig is the ONLY industry executive recruiter who has professionally flown airplanes, sold airplanes, and successfully run a P&L in the aviation industry. His professional career started with a passion for airplanes. After eight years’ experience as a decorated Naval Flight Officer – with more than 100 combat missions, 2,000 hours of flight time, and 325 aircraft carrier landings – Craig sought challenges in business aviation, where he spent more than 7 years in sales with both Gulfstream Aircraft and Bombardier Business Aircraft. Craig is also a sought-after industry speaker who has presented at Corporate Jet Investor, International Aviation Women’s Association, and SOCAL Aviation Association. For more aerospace industry news & commentary: https://craigpicken.com/insights/ . To learn more about Craig Picken, visit https://craigpicken.com/ .

Listening to 70s Southern rock, you can’t help but notice how easily it could fit into today’s rotation. Then you look at something like Hyrox. It shows up as new, but it’s actually CrossFit, same foundation, different packaging. Nothing changed. They’re just being branded differently. And that pattern shows up in careers. The things that actually last don’t change that much. They just get reintroduced in a way people are ready to hear again. Right now, everything feels like it’s speeding up: AI, tools, new roles, constant noise about what’s coming next. And it pushes people into this mindset of “I need to keep up… I need to add more… I need to figure out the next thing.” But that’s not what holds up over time. Underneath all the noise, the same things still drive value. So how do you stay relevant when everything around you keeps changing? What fundamental career skills actually hold up over time? In this episode, my producer Matt Johnson joins me to talk about how to stay relevant in a world that feels like it’s moving faster than ever, why fundamentals still win, and what separates the people who adapt from the ones who get left behind. You’ll also learn; Why rebranding, not reinvention, is what keeps ideas (and careers) relevant How AI is exposing gaps in real expertise, not replacing it Why depth in fundamentals beats chasing new tools every time The growing disconnect between big-company experience and smaller, high-impact environments Why ambiguity is becoming a requirement, not a preference What it actually means to “move the needle” inside a business Why 80% of the right hire + strong systems beats waiting for perfect talent How to use AI as a thinking partner instead of a shortcut The role of networks and exposure in staying relevant long-term About Your Host Craig Picken is an Executive Recruiter, writer, speaker, and ICF Trained Executive Coach. He is focused on recruiting senior-level leadership, sales, and operations executives in the aviation and aerospace industry. His clients include premier OEMs, aircraft operators, leasing/financial organizations, and Maintenance/Repair/Overhaul (MRO) providers, and since 2008, he has personally concluded more than 400 executive-level searches in a variety of disciplines. Craig is the ONLY industry executive recruiter who has professionally flown airplanes, sold airplanes, and successfully run a P&L in the aviation industry. His professional career started with a passion for airplanes. After eight years’ experience as a decorated Naval Flight Officer – with more than 100 combat missions, 2,000 hours of flight time, and 325 aircraft carrier landings – Craig sought challenges in business aviation, where he spent more than 7 years in sales with both Gulfstream Aircraft and Bombardier Business Aircraft. Craig is also a sought-after industry speaker who has presented at Corporate Jet Investor, International Aviation Women’s Association, and SOCAL Aviation Association. Resources For more aerospace industry news & commentary: https://craigpicken.com/insights/ . To learn more about Craig Picken, visit https://craigpicken.com/ .

Today’s defense landscape is chaotic and fast-moving. Drones, AI, autonomy, and cyber threats are reshaping how wars are fought…and how the Pentagon spends. For companies and CEOs, the barrier to entry has never been lower. Any startup with a pitch deck and some funding can say they're in “defense.” But actually succeeding in this market? That’s never been harder. Small businesses get lost in red tape, big businesses lose their edge chasing shiny objects. Most companies looking to break into the defense space still pitch like it’s 2005, leading with tech specs, chasing every shiny RFP, and assuming that great engineering sells itself. It doesn’t…not in today’s environment. So what’s the right strategy in this market? How do companies set themselves up to win? In this episode, I sit down with Gemo Yesil, founder and managing partner of Bastion Atlas, to unpack why so many well-funded startups, savvy CEOs, and legacy contractors are falling flat, and what it really takes to win in today’s high-stakes, high-complexity market. Gemo knows the DoD world inside and out. An MIT-trained aerospace engineer, Air Force veteran, and founder of a fast-scaling fractional BD firm, he’s seen firsthand how companies of all sizes struggle with the same fundamental issue: a lack of clear, executable strategy. Gemo explains how defense acquisition has evolved from lumbering legacy programs to fast-moving, software-driven warfare. He shares why the real differentiator today isn’t tech specs or connections, it’s clarity: about your market, your business model, and what “good” defense revenue actually looks like. You’ll also learn; The biggest misconceptions companies have when trying to sell to the DoD Why most “strategies” aren’t really strategies and how to create one that’s tangible and repeatable What it actually means to define “good business” in the defense sector The risks of chasing large contracts that don’t align with your long-term goals How Bastion Atlas approaches fractional business development and execution Why understanding the DoD’s operational context is key to communicating product value The growing shift toward treating AI and software as major weapon systems Why traditional consulting is fading and how fractional BD is becoming the new model How to win with process, patience, and a long-term perspective Guest Bio Gemo Yesil is a combat veteran, aerospace engineer and founder and principal at Bastion Atlas. He is a Global Defense Business Development executive with 20 years of experience, and a dual-rated U.S. Air Force pilot, who has flown Combat Rescue helicopters and Tactical Airlift jets in Iraq, Afghanistan, Africa, and South America. After managing Fortune 500 engineering teams on multiple $2B+ programs at Sikorsky/Lockheed Martin and scaling his EdTech startup nationally, Gemo has served as CMC Electronics' Global Sales & Strategy Director, Gecko Robotics' Head of Defense Business Development, and HABCO Industries’ VP of Sales & Marketing. He launched Bastion Atlas in 2024 to assemble a team of revenue growth experts and scale their impact across the global Aerospace & Defense industry. Gemo remains proudly connected to his alma mater (MIT), retains an active security clearance, and — as a personal passion — continues to manage national STEM Education initiatives. To learn more, visit https://www.bastionatlas.com/ and connect with Gemo in LinkedIn . About Your Host Craig Picken is an Executive Recruiter, writer, speaker and ICF Trained Executive Coach. He is focused on recruiting senior-level leadership, sales, and operations executives in the aviation and aerospace industry. His clients include premier OEMs, aircraft operators, leasing/financial organizations, and Maintenance/Repair/Overhaul (MRO) providers and since 2008, he has personally concluded more than 400 executive-level searches in a variety of disciplines. Craig is the ONLY industry executive recruiter who has professionally flown airplanes, sold airplanes, and successfully run a P&L in the aviation industry. His professional career started with a passion for airplanes. After eight years’ experience as a decorated Naval Flight Officer – with more than 100 combat missions, 2,000 hours of flight time, and 325 aircraft carrier landings – Craig sought challenges in business aviation, where he spent more than 7 years in sales with both Gulfstream Aircraft and Bombardier Business Aircraft. Craig is also a sought-after industry speaker who has presented at Corporate Jet Investor, International Aviation Women’s Association, and SOCAL Aviation Association. Check out this episode on our website , Apple Podcasts , or Spotify , and don't forget to leave a review if you like what you heard. Your review feeds the algorithm so our show reaches more people. Thank you!