Desert Rat +10
You don't need a lot of storage.
Early in my build I used a scrap of wood to make a drill guide to hang on the wall above my bench. I drilled angled blind holes to stick the bits in. The size choices were from #40 and up through the rivet and screw sizes to 1/4" and a couple of big holes for step drill and a few other things. There were only about 10 or 12 selections so its not big. There are not that many sizes needed on a constant basis.
So sizes went left to right. Labelled. But. Drill types went vertically. Top was a sharp jobber length, below was a threaded bit and below that an extra hole for something like a dull-ish bit. All on a board about 2.5 x 12.
Possibly one of the handiest and most often used tools I made during the build.
The rest of the stock of new aviation bits were in my drill drawer in baggies. Only accessed when a replacement was needed.