In the last 10 years, the aerospace industry has undergone huge transformation and development that has to lead it to become one of the most lucrative industries to work in. Every year, a dozen new startups come up in this sector and many of them turn out to be really successful. Even though the competition is fierce and the market cap is huge, it is a fascinating market.
Startups are taking the world by storm. New ideas, innovations, and perspectives come up with the establishment of new startups. Mostly these are headed by the younger set of the diaspora which makes startups even more attractive. If you are interested to know about different startups in the aerospace industry, then you need to take a look at our blog we have got today.
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What are the different types of aerospace startups?
There are different segment of the aerospace industry whcich is highly dynamic for all type of startups currently:
- Hybrid and Electric regional aircrafts
- Electric VTOL aircrafts
- Trafic control management
- Aircraft Connectivity and Entertainmenet
- New space (communication, research space exploration)
- Autonomous Vehicles and UAV
Top Aerospace Startups in 2020
Around the world, a lot of aerospace startups are coming up. Investors are trying to make sure that these new companies take the aviation and aerospace industry to a whole new level. In this list, we will show you the top aerospace startups that are making headlines in 2020 –
Lilium Gmbh – founded in 2015, Lilium Gmbh has received over $100 million in funding from private and public investors and is headquartered in Germany. This startup is working to develop and build an all-electric tilt jet integrated with VTOL or also known as Vertical Take-Off and Landing abilities. Their passenger aircraft can carry 4 people at a time and has the potential to reach a maximum speed of 185 mph! In order to spread and roll out there aerial mobility services, the company is collaborating with other startups to develop landing pad across the region. Once everything is in order, passengers will be able to book their flight via an exclusive app and select their desired landing destination effortlessly.
Exodus Space Corp – founded in 2018, Exodus Space Corp was established by Miguel Ayala keeping in mind a very unique objective of creating reusable and AI-operated planes for space. Ayala has been working in the engineering field for more than 20 years and has collaborated with several top companies for ground support and other technical services. The flagship project of Exodus Space Corp is the AstroClipper which is a two-stage-to-orbit spaceplane. This is a fully reusable and efficient device that will be paired with supersonic and hypersonic engines of spaceships. It will be possible to launch this from any kind of runway that is available in the vicinity. It can be put into use for a lot of different tasks like junk collection, transporting space crew and cargo, and commercial spaceflight as well. Exodus Space Corp plans to provide the world with other kinds of reusable spaceships and equipment also.
Boom Supersonic – a very exciting prospect and startup that has come up in the state of Denver, USA, is Boom Supersonic. Founded back in 2014, over the years the startup has gathered over $160 million in funding and currently employs 150+ professionals of all categories. Their main aim is to develop delta-wing supersonic passenger aircraft. The biggest project they have endeavored into is the Overture Jet that will be able to travel at Mach 2.2. It can carry 45 passengers at a time and they want to start their services by 2023. Their agenda has already attracted a number of customers who have pre-booked their flights from now.
Heart Aerospace – founded in 2018 by Anders Forslund, Heart Aerospace has set the goal to achieve the least expensive and fastest kind of mode that will help in regional travel. The major project that the company successfully completed a the ES-19 i.e. is an electronic airliner that can carry 19 passengers on board. The electric drive train is powerful enough to cover a distance of at least 250 miles without hassles. You’ll be surprised that is accompanied by a zero-emission chart. By 2025, the company is planning to launch the ES-19 commercially. Their work for high-speed regional travel and comfortable experience drives them all the time.
First Resonance – a different kind of aerospace startup, First Resonance is not involved in the creation or manufacturing of any aircraft or other systems. But, they develop and produce the infrastructure that is essential for startups to build and give their ideas to shape. Also founded in the year of 2018, Karan Talati and Neal Sarraf head the company whose main aim is to provide services in the field of designing, making, testing, and also analyzing. Talati is an experienced professional and was previously a member of SpaceX’s manufacturing team as well. His startup wants to revolutionize the different ways in which manufacturers make good starting from the initial stage of the production. They also have a dedicated software team, who want to develop better software and equipment for engineers and save their time and effort.
Eviation – Eviation is a new aerospace startup company that is working on sustainable regional travel. Their main focus has been to design and create electrically powered aeroplanes that can help us to travel over short distances. Electric travel significantly reduces energy consumption, cost of maintenance, and the overall impact on the environment. The startup is headed by a team of professional and passionate aerospace experts who want to work for more flexibility in this industry. Their most successful endeavor till date has been the development of Alice, an all electric powered airplane that can travel with 9 passengers at a time for only $200 per hour cost.
Gold Orbit – cosmic radiation exposure is a risk that cannot be neglected when going for a spaceflight. It possesses a great risk for the crew and also the cardboard which is on board. Josh Hoeg understood this problem and founded the Gold Orbit in 2018 to create solutions that will help to shield spaceships from debris and space radiation. Most of the radiation found in space can pass through thin shielding and that is why thick and dense material required for protecting the crew and cargo. They work round the year to manufacture modular armor plating which is not too heavy but offers the best protection from most radiation that is expected in the space.
Magnix – magniX is working to develop a set of electic motors that will be specially made for commercial aviation purposes. Whether it is a single motor or multi-motor aircraft, these highly sophisticated magniX motors will offer the highest level of reliability and performance. The magni250 and magni500 are the top products manufactured by magniX and both of them are integrated with impeccable standard propellers.
Ampaire – Ampaire has dedicated themselves to create more sustainable and easily accessible flying facilities to the people around the globe. Over the years of hard work, they have successfully developed an electic hybrid plane. It helps to cut down the fuel costs by upto 90% and there is also a 50% reduction in maintenance. The team at Ampaire has partnered with US Air Force and NASA to develop the right technology and other essential elements for the project.
Volocopter – Volocopter is a leading company that is dedicated to offer clean and easily accessible aviation facilities to the people. Their Air Taxi services will offer the perfect with affordable and reliable flying experience over short distances without spending too much. Since the Volocopter aircrafts are going to use electricity, the overall emissions and cost of facilitating the flights will be cut down as well.
So, these are some of the best aerospace startup companies that have come up over the last few years. All of them are working really hard and in an innovative manner to develop better technology, equipment, aerospace systems, etc. to revolutionize the aeronautics industry.
Top Aerospace Incubators and Accelerators
In order to help startup companies work on their goals and objectives, a lot of finance is required. Already established companies and big firms invest their money in these newbies, helping in every way possible. Here is a list of incubators and accelerators in the aerospace industry.
BoomStartup SpaceTech Accelerator – established in 2010, BoomStartup SpaceTech Accelerator has a great team that is constantly accelerating investments for aerospace startups. They have successfully raised millions for more than 80 startups and are constantly working to bring these startups in touch with investors from around the world. They want to create a healthy and valuable ecosystem in the startup scene and host numerous educational meetings, and events.
Starburst Accelerator – Starburst Accelerator came alive in 2016 and since then they have helped a lot of aerospace startups to get the investment they needed. In their debut fundraising round, they gathered over $200 million. The company has offices in top cities around the world including Montreal, San Francisco, Los Angeles, Paris, Munich, and Singapore. Their portfolio includes 200+ startups and one can expect an average of $7 million in funding per round.
Practica Capital – an accelerator based out of Lithuania, Practica Capital has helped several aerospace startups companies to work on their agenda without any worries of funding. They are administered by the European Investment Fund and mostly finance Lithuanian Spacetech startups. However, they help overseas startups as well if they seem to be fit for their lucrative investment. Their investment period is mostly between 2 years to 5 years and first-timers can even get the opportunity to obtain a contract of up to $1 million.
Here are the top aerospace startup accelerators who fund startups in the industry. They are constantly monitoring attractive startups and reaching out to them to help them grow.
Top Aerospace Venture Capital Firms
Around the country, there are several venture capital firms that are attracted to good startup companies and want to invest in them financially. Here are the top aerospace venture capital firms in the USA that you can check out –
AeroInnovate – the company focus on different sectors of the industry that includes aerospace and also others like Aviation, Augmented and Virtual Reality. Their focus has always been to help aerospace-related startups to grow and get the financial help they need. They offer an initial program for the 8-week virtual accelerator.
Iowa Startup Accelerator – accepting only 10 startups every year, the Iowa Startup Accelerator offers 12-month program for funding startups. Their initial financial round includes an amount of around $20,000 to $50,000 and can also reach up to $250,000 for the most prominent startups. They are based out of Cedar Springs, Colorado.
Space Angels Network – a very prominent and popular investment firm, Space Angels Network offers help to the early-stage startups and has an impressive portfolio of fundraising. Over the years they have been able to accumulate over $126 million in fundraising and they focus on providing great help to entrepreneurs big time.
How a Strategic Consultant Can Help Startups in Their Growth?
A strategic consultant can really help startups to work on their growth down the line. They can get these relatively new companies to come across several investors and venture firms who might be interested in funding their business. Every startup company needs financial help more than anything else in order to get the best results. A strategic consultant works year-round to make sure that their clients do not run out of the funding that keeps their work going on. As a startup, it is very important to get hold of a good strategic consultant who will advise and guide them on how to make the most of their resource.
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