Commercial aviation is booming, but not for the reasons you'd expect. While the media fixates on tariffs, inflation, and geopolitical risks, industry insiders are seeing a very different picture. Airline profits are up, demand is strong, and aircraft backlogs are stretching eight years into the future. But underneath the optimism is something more nuanced: a market defined by high-cost inputs, a scramble for qualified labor, and a reshuffling of what counts as “value” in M&A. In this episode of The Aerospace Executive Podcast, M&A specialist Bill Alderman returns for his quarterly check-in on the state of the aerospace and defense sector.  We unpack the surprising resilience of commercial aviation, why job shops are suddenly hot properties, and the real reasons behind rising multiples in the MRO and manufacturing space. Key Topics Covered: Why Job Shops Are Suddenly a Seller’s Market The Real Tariff Story MRO’s Growth May Have Peaked  Delta’s Blowout Quarter and What It Signals  Good Accounting is Deal Fuel Defense Two Speeds, One Future 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 - 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!