Navigating Volatility in Aerospace & Defense: Why Business Aviation and MRO Are the Real Growth Stories w/Bill Alderman

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!