Innovative Aerospace Summit: Bristow Targeting AAM Revenue Emerging in 2028

研报英文原文证据摘录

Innovative Aerospace Summit: Bristow Targeting AAM Revenue Emerging in 2028

USA | Aerospace & Defense Electronics EquityJuneResearch11, 2026

Innovative Aerospace Summit: Bristow

Targeting AAM Revenue Emerging in 2028

We hosted Bristow's EVP and Chief Transformation Officer, David Stepanek, at

our 4th annual Jefferies Innovative Aerospace Summit. Key takes include: 1)

AAM fits into existing core competencies and offers 50%-60% lower operating

cost potential; 2) Certification remains the primary gating item; 3) 2028 could

bring material, but not yet scalable, AAM revenue; 4) Incumbent infrastructure

is a key advantage.

Advanced Air Mobility Fits Existing Core Competencies. Bristow began evaluating AAM in the

2019-2020 timeframe as capital entered the sector and is applying the same capabilities used

in helicopters: buying aircraft, maintaining and operating them, training pilots, and providing

transportation services. The strategy is to deploy electric and hybrid-electric aircraft through

existing operating certificates, safety systems, regulatory relationships, and infrastructure, which

reduces the need to build a new air carrier system from scratch.

Economics Could Be Meaningfully Lower. For similar-sized aircraft relative to light helicopters

such as the Bell 407 or Airbus H125, Bristow’s analysis points to 50%-60% lower operating costs,

driven by electric propulsion and fewer moving parts. Upfront aircraft pricing was described as

30%-40% below comparable helicopters such as an H125 or H135. In Norway, Bristow operated

a 100% battery-electric aircraft for six months, completing >125 flights and >140 hours, with a

Stavanger-to-Bergen flight of ~90 nautical miles costing <$20 in energy.

Certification Is The Primary Gating Item.