Having worked for a couple of Tier 2 aerospace companies (supplying parts to Tier 1 companies and occasionally OEMs), I’ve noticed that a primary pain point is typically legacy product/paperwork/processes which consume time, effort and resource across departments.
I’m curious as to whether a start-up in the Tier 2 space (i.e., sensors, valves) could potentially disrupt the market and take market share, leveraging the fact that legacy headaches are essentially ‘eliminated’.
Do you think that there’s a chance for a start-up in this space to be successful?
Would the gambling on a new supplier be above the risk appetite for Tier 1s and OEMs?
Would the initial capital required for product design, development and qualification present too much of a barrier?
Would customers welcome a modern supplier who can leapfrog to Industry 4.0, IoT etc?
Curious to hear thoughts on this!