Step into the world of innovation and excellence with “Industry Champions”! Join us as we celebrate the trailblazers who are redefining success across diverse industries, sharing their journeys, strategies, and secrets to thriving in competitive landscapes. Today, our host, Miranda Gahn, spoke with Peter Schmidt.
Peter Schmidt
Co-Founder and COO of Transcend Air Corporation
Website Address: https://transcend.aero/
Short company description:
We are a group of experienced aerospace executives, engineers, and entrepreneurs who have designed a family of high speed tiltwing VTOL aircraft based on the Vy 421. The Vy 421 is three times faster than helicopters, with half the operating costs, and enhanced safety, so we expect it to grow to dominate the VIP transport helicopter segment and find multiple military applications. It will also enable a new city-center to city-center airline service, cheaper than current air travel options, and three to five times faster door to door. Since 2009, we have built and flown 20 prototype VTOL aircraft, giving our patented Vy a more than decade-long lineage of real-world experience. Using proven technologies, including the GE CT7-8 engine and a whole-aircraft parachute, and requiring no new regulatory regimes nor air traffic control systems, the Vy 421 will finally bring the promise of civil VTOL flight within everyone’s reach.
What do you consider to be your greatest accomplishment?
Helping to shepherd two terrific daughters through growing up, establishing careers, and marrying terrific partners. In business, it is being a multiple-exit entrepreneur.
What’s The Biggest Challenge you are facing in your business or industry?
The long timelines for aircraft development don’t fit with venture capital return horizons. Cultivating funding from multiple alternatives is a challenge.
How do you see your field evolving in the next 3-5 years?
Hybrid-electric aircraft will start to enter the commercial market and will add capacity to our congested air travel network on shorter regional routes. Urban air mobility will fail to scale. Military applications of hybrid-electric aircraft will begin a period of rapid proliferation.
