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Welcome to the Paris Air Show 2025.
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My name is Carsten Schaetzberger.
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I'm a managing director and senior partner at BCG.
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Now, for me, this is very special.
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The first time I was here, I think was in 2001
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in the final stages of finalizing my university degree
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as an aeronautical engineer.
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So it's very close to my heart.
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I'm always happy to be here,
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and it always feels good to be here.
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Today I'm joined by my colleague, Diana Dimitrova,
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managing director and partner in our London office,
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and also leading our aerospace
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and defense activities in the UK.
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Great to be with you, Diana.
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Great to see you, Carsten, and wow, 25 years.
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You've got a lot of experience at these,
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but this one does feel a bit different, right?
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A lot more purposeful.
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I think there's a different energy to it.
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I think both the commercial aviation industry as well
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as the defense industry understand
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that they're at quite a pivotal point,
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especially the defense industry in Europe.
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So it's really reinvigorating to see all the action.
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I think in the past it always felt mainly
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about innovation.
Yep.
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About showcasing innovation, showcasing technology,
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and I think now it feels much more
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about really asking the hard questions.
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Yeah.
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Discussing the global constellations that are different,
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forging partnerships, bringing ecosystem partners together.
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So I agree, it has a very different feel.
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I think on the commercial aviation side specifically,
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you are seeing these bombastic backlogs
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that have come out this week,
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but you are seeing just the demand that isn't easing up.
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So the industry is having to continuously ramp up
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at a scale they've never had before.
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And that's continuing to stress
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the supply chain resilience, elements that they have,
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making sure that suppliers can't produce
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at the rate that they need to,
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all of the while actually feeding in a lot
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of the new technologies that are emerging.
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So I think on the commercial side,
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it really is about that end-to-end ability
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to deliver that next level of ramp up
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that is being demanded of them.
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What's your take on the defense side?
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Ooh, a different mindset.
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I think we are now feeling
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in a much more escalatory mindset.
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It's much more action-oriented.
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A lot of it is around these partnerships
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and ecosystems that you've discussed,
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but even more prevalent is the topic of affordable mass.
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We are seeing these new entrants that are starting
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to actually provide those supplementary ecosystems,
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and you are seeing the big organizations
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or primes as we would know them, how to integrate that,
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how to bring that solution to the customer.
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I feel collaboration has always been important.
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Yeah.
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But it feels much more important these days.
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Yeah.
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With governments, with different priorities,
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with startups, new startups, with the primes,
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OEMs needing to reinvent themselves in the process,
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and particularly in Europe.
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I think we need a lot of, also, cross-border collaboration
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to happen to actually move forward.
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Yeah.
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I think we're learning a lot
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and just shows how important our presence is actually here,
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as BCG, of us being here, discussing with clients,
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listening to clients, understanding dynamics
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that are actually happening.
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So for me, as you, I think, alluded to
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at the very beginning, this is a bit of a different one.
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Yep.
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But it feels good and important to be here.
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(upbeat music)