Alpha2 Consulting - Aviation & Space Strategy
Helping you make better decisions
Aviation and space projects are capital-intensive, time consuming and highly regulated.
With deep expertise and firsthand experience, we cut through hype to identify commercial, technical and regulatory risks before capital is committed.
Working with investors, established businesses and startup founders, we bring clear, independent thinking to complex aerospace decisions.
Expertise
Alpha2 Consulting combines deep industry knowledge with rigorous analysis to help investors, founders, and aerospace leaders make confident, evidence-based decisions regarding technology, operations, and strategy.With international experience spanning corporate leadership, aviation and space startups, and advisory roles in aircraft, space, and UAV programs, we identify risks and separate real opportunities from hype.
Commercial Due Diligence
Considering an investment?
- We review the target's strategy, operating plan, market positioning, and financial projections.
- We identify risks, suggest key questions you should ask, and assess viability and potential.
Technical Due Diligence
(Aviation Projects)
Certification is key!
- Conventional aircraft, eVTOLs, UAVs, engines, avionics - they all need certification.
- Aircraft production needs certification too!
- We understand the requirements and can assess whether plans and budgets are credible.
Sustainable Aviation
Hybrid, Electric, Hydrogen
Hype vs. Reality!
- Some sustainable aviation projects can succeed and benefit the environment.
- Others are deeply flawed.
- We help you separate the viable from the over-hyped.
Novel Aircraft Types
eVTOL, BWB, WIG, UAS
The Future... or Not?
- eVTOL, BWB (blended wing body), WIG (wing in ground-effect), autonomous aircraft...
- Which concepts are realistic and commercially viable - and which aren't?
- We can guide you through the advantages of these vehicles - and their many challenges.
Business Strategy
and Fundraising
Turn an idea into a business
- We have successfully started aviation and space businesses.
- We help develop business plans, pitch decks, and fundraising strategies.
- We identify risks and give a comprehensive assessment of the competitive landscape.
Small Satellites
and Constellations
Small Satellite Constellations
- Procurement, licensing, and operation of small satellites.
- Constellation design and optimisation.
- Fundraising support for satellite ventures.
Earth Observation
Insights and Analytics
Insights from Images
- We have developed successful products using open-source and tasked imagery.
- Product design and comprehensive competitive analysis.
- Support with grant applications for product development.
Mentoring
Mentoring
- We've launched startups, raised funding, grown teams, and built products. And made mistakes!
- We help startup founders benefit from our experience.
- Mentoring for Space businesses in Europe via the EU Space Academy.
Team
Alpha2 Consulting was formed by Adrian Norris and Alex Stott, who bring decades of pragmatic, hands-on experience to client engagements.
Adrian Norris
Adrian Norris
Adrian was a co-founder, with Alex Stott, of a satellite imaging and data analytics company.
He was the co-founder in the United States of an aircraft development company working on certification of a high-performance turboprop design.
He was previously an Executive Board member of a global transport and logistics company, leading business transformation programs.
He is a Sloan Fellow of the London Business School, and a licensed commercial pilot.
Alex Stott
Alex Stott
Alex is a finance professional with a strong commercial background.
He co-founded a satellite imaging and data analytics company with Adrian Norris, where he developed the business strategy and served as CFO during multiple funding rounds, securing substantial investment for the Company.
Through Alpha2, he currently serves as CFO for a space project engineering business.
Earlier in his career, Alex co-founded a managed telecoms services company in the UK, and was a Senior Lecturer at Rhodes University, South Africa.
Insights
A selection of articles, originally published on LinkedIn. To read the full articles, click on the boxes below.ZeroAvia
A reality check for investors and funders
- Since 2019, ZeroAvia has claimed that hydrogen-electric flight is imminent.
- It wasn't, and it still isn't.
- This article looks at what ZeroAvia has claimed, and what it has achieved.
- It relies on information made public by ZeroAvia, and avoids speculation.
- There is a big gap between claims and reality.
Very Low Earth Orbit
A reality check for investors and commentators
- Many analysts predict that VLEO is going to be the 'Next Big Thing'.
- I think they are wrong.
- VLEO can offer higher resolution imaging and reduced risk of collisions with debris.
- But these benefits are outweighed by many practical challenges.
- Investors are more likely to lose money than make it.
BETA Technologies IPO
Should you invest in BETA Technologies' share offering?
- BETA Technologies has developed a credible aircraft and attracted significant funding.
- But the aircraft has limited capability, high cost, and needs hugely expensive annual battery replacements.
- After the IPO, the founder will retain absolute control - forever! - thanks to his 'super-voting' shares.
- Investors should steer clear.
eVTOLs - Hype or reality?
The leading eVTOL companies are a long way from certification.
- eVTOLs' innate characteristics make their development and certification complex.
- Safe operations in constrained urban environments may not be possible.
- eVTOL market assessments are over-optimistic.
- There is no guarantee that the aircraft currently in development will enter commercial service.
Electric Aircraft
Electric cars have arrived, so why not electric planes?
- Planes aren't just flying cars.
- Batteries are very heavy - too heavy for many types of aircraft.
- Certification of new technology is complicated and slow.
- Despite the challenges, we will see more electric aircraft.
- We will certainly see lots of hybrid aircraft.
Hydrogen-powered Aircraft
Will hydrogen replace jet fuel?
- No.
- The physical properties of hydrogen are unsuitable.
- The cost of 'green' hydrogen will always make it uneconomic.
- The infrastructure needed is prohibitively expensive.
- Certification of hydrogen-powered aircraft is hugely complicated.
- Hydrogen always leaks, and it causes global warming.
- Batteries, hybrid power and biofuels are better options.
Small Rockets
A Brave Investment!
- In 2021, there were over 120 companies developing small rockets.
- Billions of dollars have been invested.
- Only one company regularly launches satellites with a small rocket.
- The market is small, and competition from large rockets is intense.
- Investors should focus on companies that use satellites to deliver valuable services, driving launch demand.
'Novel' Aviation
An Investment Checklist
- From 2023, here are 10 thoughts about investing in novel aviation - i.e. new types of aircraft, or new power systems.
- The first problem is always certification.
- The next problem is usually unrealistic assessments of the market size.
- Technology and modern manufacturing techniques have lowered the barriers of entry in the aviation business. But the barrier to success is as high as ever.
What Industry Leaders Are Saying
A selection of public comments to the Insight articles. Click on the boxes below to see the original comments in context.
“Very well written and researched. Bravo! Reposting this!”
David Smith
President & CEO, Robinson Helicopter Company
“Very well said”
Alan Klapmeier
Founder, Cirrus Aircraft
“Excellent post Adrian Norris! There is a lot of hype around VLEO”
Luis Gomes
CEO, AAC Clyde Space
“Well written and very accurate! Thank you!”
Jérémy Caussade
President & Chief Engineer, AURA AERO
“Excellent overview of VLEO challenges.”
Pierre Lionnet
Research & Managing Director, Eurospace
“Adrian Norris, co-founder and partner at Alpha2 Consulting and one of the sharpest industry analysts out there”
Miquel Ros
Host, Allplane podcast
“A well-written and clear piece from an experienced aerospace professional. Thanks Adrian Norris and well done!”
Brandon Robinson
CEO, Horizon Aircraft
“Adrian Norris, just wanted to say thank you for an excellent article!”
Robert Garbett FRAeS
CEO, Drone Major
“This is the most insightful and sober article on hydrogen aviation I've come across! Super valuable are insights into the necessary airport infrastructure, maintenance, and certification process! ”
Emin Askerov
CEO, Akari Consulting, Cleantech Consultant & Podcaster
“Outstanding article. Your understanding of the certification process is above most.”
Carlos Blacklock
Blacklock Flight Sciences
“Profound, enlightening and substantive article to read.”
Chris Rijff
CEO / CTO, Cormorant Aerospace
