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Gravity, a UK-based startup, has made waves in both the aerospace and defense tech sectors with its innovative jetpack technology, which is being designed for both military and commercial applications. Starting from a concept once thought to be in science fiction, it was literally turned into a reality by the efforts of the company’s founder, Richard Browning. This article shall take a look at the transformation that Gravity has undergone from public jetpack experiences to multi-million-dollar military contracts and what the future holds for the startup in the growing defense tech market.
From Science Fiction to Reality: The Birth of Gravity’s Jetpack
As a former BP oil trader, Browning experimented with a jet engine purchased through the Internet in 2016, which begets an idea to create a jet suit under the company Gravity. The company’s first prototype was one made of a mop bucket and basic material. Since then, the technology has grown, and in Gravity, the jetpack the designer features a heavy backpack that contains its fuel and jet turbines and two handheld units that contain additional turbines. The result is a flying suit that wears its owner aloft for short bursts as equipped with seven powerful jet engines.
But the suit is not just a thrilling experience. There is much more to it: the company now eyes fat military contracts in order to push it on to a viable business model. So far, Gravity has managed to raise $19.4 million, including a $13.3 million Series B round, and has demonstrated the technology at over 300 events in 48 countries.
Public Flight Experiences and Early Commercial Success
What attracts this unusual clientele is gravity’s jetpack, while most users are rich people who will have to pay a pretty penny to be able to fly in the jet suit. The company runs public flight sessions at its training facility at Goodwood Estates in southern England, where attendees can pay thousands of pounds for just a few seconds of airtime. For most participants, it represents a thrilling but brief experience from the power of the jetpack, spending only a few seconds off of the ground.
For such little airtime, however public flights still provide vital revenue for the company and are also a great marketing tool. Gravity has also held “race series” events, such as the one in Dubai this year that has drawn in public and military observers. These have included several pilots racing each other in jetpacks and therefore provided entertainment and excellent publicity benefits for all those involved considering that Gravity used these events to demonstrate how their jetpack can function in real life.
However, the military contracts that Gravity will be inking soon with Brownings expectations for these to drive the company’s future growth and profitability will overshadow the jetpack experiences. Public experiences may generate short-term revenues, but a far bigger scope and one more sustainable is what comes from selling it to the military market.
Such is the spirit behind Gravity’s inventions, the final aim of which is defense and military use. The firm has talks underway to supply a number of its armed forces with jetpacks. Browning reports that the company is near deals with two nations worth tens of millions of dollars over the next 18 months. While one of these countries is claimed to be the Netherlands, Browning has been reluctant to be as forthcoming about the second country, although more recent reports have suggested it may be an allied Southeast Asian nation.
The military needs jetpacks because they would revolutionize boat-to-boat boarding operations. Normally done using ladders or ropes, these are slow, predictable and lack surprise. A jetpack enables military personnel to take off from one vessel and land on a target vessel within seconds. This is a tactical advantage, allows for fast and stealthy deployments under circumstances that the traditional methods could not, and otherwise are effective in situations where traditional approaches fall short.
Gravity sells its jetpacks for about $500,000 per unit, with additional costs for training. According to Browning, the military market is vastly more lucrative and stable compared with flight experiences or public demonstrations. Although military sales will take longer to realize, Browning is certain that they will become an engine for growth in Gravity during the next couple of years. The company expects to win a number of other defense contracts in the next few years and be profitable within three years.
Managing Red Tape and Defense Acquisition Complexity
Selling to the military is not an easy thing, Browning admits. He describes the process as lengthy and arduous, above all because military acquisition is so bureaucratic. Unlike most private sector clients, military organizations are ruled by stricter processes, formidable regulations, and more extensive approvals. In this regard, innovative technologies like jetpacks marketed by Gravity sometimes don’t fit seamlessly into the existing frameworks of procurement. More so, military contracts are not like business deals where deals can close in a matter of years, and the right stakeholders’ attention requires persistence and patient attention.
While the military is always on the lookout for innovative technologies that they can use to get a strategic edge, it takes time to thrust such technology into an already inured and structured regime. As Browning has argued, a military may cherish the “unexpected” out of war, whereas at the same time, they would have invested too much in control and order. Thus, selling new technologies such as jetpacks to the military becomes difficult but not impossible.
Rise of Defense Tech Startups and Investment Opportunities
Yet, a huge interest in defense tech startups from investors has emerged. The geopolitical climate, above all since Russia’s invasion of Ukraine, has changed the attitude toward defense technology: many now find it more attractive and socially acceptable to invest in. More and more private investors want to fund innovative military solutions, and Gravity has been a beneficiary.
The latest round of funding by Gravity has successfully netted it $13.3 million, again led by Draper Associates- an investor who funded both the former and current paramount independent autonomous vehicle company Cruise and cryptocurrency wallet Coinbase. The company is now valued at over well over $70 million and will continue to attract private investors who foresee high returns in the defense tech space.
However, Gravity is not alone in this super-fast-growing sector. Other European startups have also escalated massive sums of money to raise for Germany’s Helsing-a startup working on AI software for battlefield use-and the UK-based satellite company All.Space. Many of these startups are positioning themselves to take advantage of the defense boom by creating cutting-edge technologies for military use.
Future of Gravity and Its Jetpack Technology
Currently, Gravity’s focus lies on military applications and non-defense purposes for its jetpack. The company is extending its mountain rescue operations across the UK, hoping that its jetpacks will come in handy for rescues of stranded people in inaccessible locations. The firm still operates jetpack experiences for the public with facilities based in the US, Dubai, and the UK.
In addition to these, Gravity focuses more on the race series and possibly a new sport on jetpack racing. The company is planning to have another event in Dubai in 2025. These events contribute to public awareness but are also used as platforms for testing the technology.
source: Sifted.eu
