In the aerospace and defense industry, unpredictability is a constant—but there’s a big difference between manageable risk and outright volatility.

With tariff changes, shifting trade policy, and rising political uncertainty, the real threat isn’t just higher costs. It’s the cascading impact these factors have on employment, supply chain stability, and economic confidence across the sector.

But while headlines focus on chaos, the real story is unfolding elsewhere.

Aerospace market fundamentals are solid. Demand is strong. And strategic investors are making big moves—especially in business aviation.

Behind the scenes, this sector is evolving fast, and the implications for OEMs, MRO providers, and private equity are significant.

In this episode of The Aerospace Executive Podcast, sell-side investment banker Bill Alderman joins us for his quarterly deep dive into the state of the industry.

We unpack why business aviation remains a top-performing segment, how consolidation in the MRO and aftermarket services space signals deeper transformation, and what smart leaders are doing to stay ahead—by focusing on what they can control rather than chasing headlines.

Key Topics Covered:

→ Tariff Whiplash and Aerospace Workforce Planning How rapid shifts in international trade policy could lead to unintended layoffs across aerospace and defense sectors.

→ The Rise of Business Aviation Why record-low inventories, continued demand, and strong order backlogs are fueling growth for business jet OEMs and MRO providers.

→ Private Equity’s Big Bet on MRO What’s driving the surge in M&A activity as investors snap up smaller aerospace maintenance and repair shops.

→ Boeing’s Cultural Crossroads Why Boeing’s biggest challenge isn’t global politics—it’s rebuilding internal morale, leadership credibility, and trust with customers.

Anecdotally, things look good in the M&A market, but I am worried that the noise in the system could lead to layoffs, and that’s not good for anybody. -Bill Alderman

Guest Bio

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. Prior to 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 - William Alderman 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 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!

The way we travel hasn’t changed much in decades, and it’s not because people don’t want better. It’s because legacy systems have kept the industry locked into outdated models.

But a major shift is underway, and it’s poised to radically redefine the entire experience of booking, flying, and managing travel.

At the heart of this transformation is AI-powered personalization and the modernization of airline infrastructure. The goal? To give travelers a seamless, flexible, customizable, retail-like experience, from the moment they think about a trip to the moment they return home.

That means smarter pricing, bundled offers, and digital self-service that actually works—even when your plans don’t.

FLYR is one of the companies leading this evolution, helping airlines move from rigid legacy systems to modern platforms that allow for dynamic retailing.

Joining me today is Sam Chamberlain, Chief Product Officer at FLYR and a veteran in the travel technology space. Sam and his team are building the digital engine behind what they call the “limitless future of travel” and today, he’s giving us a look under the hood.

We explore what this shift means for travelers and what airlines need to do to stay competitive in a world where customers expect more than just a seat from point A to point B.

You’ll also learn:

• Why booking travel hasn’t changed in decades
• “Offer-and-order” booking and how it will change how we travel
• How airlines can capture more customer loyalty and revenue
• How to shift legacy travel booking into the modern world

We’re crafting the limitless future of travel. It’s the notion of moving away from the flight being the center of everything, to a more digital retail standard. -Sam Chamberlain

Guest Bio

Sam Chamberlain is the Chief Product Officer at FLYR. He is an experienced product leader in travel technology, having worked in and with airlines for the last 20 years, predominantly in the Pricing and Revenue Management space. He helps airlines optimize revenue generation through the entire ecosystem of offer-and-order-based travel retailing and, more recently, in the development of ancillary-powered travel experience products. Sam has launched multiple new commercial revenue optimization products that have helped power the generation of billions of dollars of annual airline revenue globally. He has a broad experience of leading teams that bring value-driving products to market through a market-driven (outside-in) product development philosophy and has held responsibility for multiple aspects of the product life cycle. Visit https://flyr.com/ for more information, and connect with Sam 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!

After the Eagles’ Super Bowl LVII loss in 2023, Jalen Hurts said, “You either win or you learn.”

It was a powerful reflection on turning setbacks into lessons. Fast forward to 2025, Hurts led the Eagles to a dominant Super Bowl win, exemplifying how learning from past defeats can pave the way to future success.

But here's the question: Do we need to wait for failure to start learning?

Success can be a comfortable place, but it's also where complacency can creep in. The key is to stay proactive in our growth, even when things are going well.

What if we could learn while we're winning, so we don't have to learn because we lost?

In this special Million Dollar Careers edition of The Aerospace Executive, we delve into strategies for continuous learning during times of success.

We discuss how high achievers can maintain their edge, avoid complacency, and prepare for future challenges by embracing a mindset of constant improvement.

Tune in to discover how to keep evolving, even at the top of your game.

You’ll also learn:

• Why learning doesn’t have to be punitive
• Why you need to watch the tape even if you won the game
• How to self-awareness into self-actualization

Guest Bio

Robert is the Founder & President of Houghton Search Group (formerly Management Recruiters of Fairfax, Inc.). Rob inspires trust and guides the Mid-Atlantic insurance community in the acquisition and retention of Top Talent. Rob specializes in the executive placement of Property and Casualty and Employee Benefits professionals across the United States. Connect with Rob 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!

Every business leader dreams of building a team of A-players—but what happens when your top performer can’t seem to collaborate with the rest of the team?

When one standout employee clashes with others, it doesn’t just create tension—it can disrupt workflow, derail morale, and impact your entire company culture. And while high performers often drive results, the real question becomes: at what cost?

So how do we handle this dilemma? Should we keep the rainmaker and risk losing loyal, dependable team members? Or is there a way to address the conflict without compromising the health of the organization?

In this episode, I revisit a conversation I had with the CEO of MicroFamous and producer of this podcast, Matt Johnson.

We unpack how to navigate employee conflict—especially when one person is operating on a completely different level. We’ll explore how to spot the warning signs, what to consider before taking action, and how to make decisions that serve your business in the long run.

You’ll also learn:

• Questions to ask when faced with a disconnected team
• Who to keep on our teams (and who to let go)
• How to tell when an A-player is more trouble than good

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.

A shift in leadership often brings a shift in economic direction, and with that, a wave of uncertainty for business leaders. Recent changes in trade policy have sparked a great deal of conversation (and concern) around tariffs, trade imbalances, and global supply chains. But what we’re seeing now isn’t the final chapter—it’s part of a broader strategy to reshape the future of international trade and industrial development in the U.S.

The goals are ambitious: addressing the national debt, correcting long-standing trade deficits, bringing key industries back onshore, and rethinking the rules of global commerce. While the path forward may seem unpredictable, there is a long-term vision driving these moves.

The U.S. has long relied on the free market to guide economic outcomes, but certain challenges, like national security and the health of strategic industries, require more than market forces alone. Trade, especially when it intersects with geopolitical and security interests, demands a more hands-on approach.

So, what does this mean for today’s financial leaders? How should CFOs be preparing for the ripple effects of tariffs and other trade measures?

In this episode of the podcast, I sit down with Dr. Steve Horan, Former Managing Director of the prestigious CFA Institute and Finance Professor at UNC-Wilmington, to explore the broader implications of evolving trade policy. We talk about the big picture—debt reduction, onshoring trends, and how leaders can position their organizations for success in this dynamic environment.

In this episode, you’ll learn:

• The least painful path to reducing the national debt

• Are tariffs a tax or a tool?

• Will tariffs be an effective trade negotiation lever

• What’s really driving interest rates

• The biggest concern for CFOs right now (hint: it’s not what you think)

Guest Bio

Dr. Steve Horan is an Associate Professor of Finance at UNC Wilmington. Throughout his 30 years in the industry, Steve has leveraged his experience as a practitioner, educator and thought leader to engage the investment management profession on key industry issues. Steve’s distinct blend of academic and professional experience has given him a strong strategic sense, and the ability to apply a rigorous analytical framework to any situation. He strives to stay current in his knowledge and progressive in his thinking. Steve has written and co-written numerous articles and books, received several industry awards, and enjoyed a spell as an Financial Times columnist. He continues to provide media commentary, cited in publications from The Wall Street Journal to The New York Times to the South China Morning Post. Steve believes that an industry composed of competent and ethical practitioners is a necessary ingredient to build an investment profession that protects investors and ultimately contributes to a better society. Connect with Steve 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!

Once again, the aviation industry is in the spotlight, but this time for all the wrong reasons. With the recent accidents and mishaps, safety management systems have become a major topic in mainstream discussions.

The problem is, those conversations often turn into a rush to judgment, throwing around blame, prematurely pointing fingers, and ignoring the most important thing - the data.

This doesn’t help anyone at all.

What the industry does in the aftermath of an accident is critical. Instead of rushing to conclusions, we have to let the investigations play out and let the data come in so we know what actually happened. When we wait for data, we often discover that the system does work or we’ll uncover learnings we can use to get better.

What’s the right way to react to a mishap? Do we need more state sponsored safety mechanisms?

In this episode, Bob Waltz returns for an insightful conversation. Bob is now the VP of Flight Operations at Surf Air Mobility, and he shares what the aviation industry should be doing in the aftermath of recent unfortunate events.

You’ll also learn:

• How to avoid letting a sense of complacency can creep in
• The value of a system safety approach
• The rule every aviation safety officer must follow
• If AI can help the human be a better operator

Guest Bio

Bob Waltz is the VP of Flight Operations at Surf Air Mobility. As an award-winning and industry-recognized executive operational leader in the aviation industry, Bob has the experience in Fortune 500 global businesses and proven performance managing operational budgets of up to $3.5B and capital expense budgets of up to $500M. He is honored to serve as the Part 119 Director of Operations and Senior Director of Flight Operations at Sun Country Airlines, responsible for the stewardship of the Pilot group and the entire Flight Operations team. Additionally, Bob consults worldwide on Safety Management Systems and serves as an industry research lead as part of Embry Riddle Aeronautical University's Boeing Center for Aviation and Aerospace Safety. As an ERAU Adjunct Professor, he leads courses in aviation safety, airline management, and emergency response at the undergraduate, graduate, and professional development levels.

For more information, head to https://www.linkedin.com/in/bob-waltz-1829a51b/.

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!

Business aviation is a critical part of the U.S. economy, yet it’s often misunderstood as a luxury for the wealthy. While some may criticize the corporate executive boarding a Gulfstream, the reality is that this industry supports jobs, commerce, and economic growth nationwide. But are we, as an industry, doing enough to communicate its true value?

Challenges continue to emerge—from regulatory scrutiny and negative public perception to pressing issues like safety, technology modernization, tariffs, and the ongoing pilot shortage. Recent high-profile accidents have placed aviation safety under the microscope, making it more important than ever for industry stakeholders to collaborate and reinforce best practices.

However, these challenges also bring opportunities. By addressing safety concerns, modernizing technology, and advocating for business aviation’s critical role, we can foster an environment where the industry not only survives but thrives.

In this episode, I sit down with Andrew Broom, Chief Revenue Officer at the National Business Aviation Association (NBAA), to discuss the efforts being made to keep business aviation at the forefront of safety, innovation, and industry advocacy.

🎧 Tune in to learn:

• The Swiss cheese model: how to reverse engineer and address safety concerns
• How to modernize business aviation
• What’s actually happening in Part 135
• The most exciting developments in business aviation
• How NBAA is handling business aviation’s biggest challenges

In the Swiss cheese model, many things have to line up for an accident to happen. We’re doing a better job of figuring out where those initial holes start to line up. -Andrew Broom

Guest Bio

Andrew Broom is the Chief Revenue Officer (CRO) at National Business Aviation Association (NBAA). With over 20 years of senior executive experience in the general and business aviation industry, Andrew is a strategic and innovative leader who drives growth, improves performance, and delivers exceptional results in highly competitive marketplaces. Currently he oversees the development and execution of strategic road maps, business processes, membership and event marketing initiatives, sponsorships and advertising, and efforts to grow event and non-event revenue for the largest and most influential organization in the business aviation industry. As a former CEO of a pilot association and a chief marketing and communications officer of a leading aircraft manufacturer, Andrew has a track record of building lasting internal and external relationships, leading cross-functional teams, and orchestrating ideas across complex organizations. Connect with Andrew 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!