Life cycle cost modelling as an aircraft design support tool

Thokala, Praveen; Scanlan, James P.; Chipperfield, A.J.

doi:10.1243/09544100jaero574

Cited by 16 publications

(4 citation statements)

References 25 publications

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“…Combined in a MATLAB environment, their framework is also capable of performing Design of Experiments (DOE) and MCS. This framework was used to design unmanned air vehicles in Thokala et al [41] and to calculate overall maintenance cost of aero-engines in Wong et al [42]. Both Extent and DecisionPro are well developed and commercially available.…”

Section: Comparable Workmentioning

confidence: 99%

A Modular Framework for the Life Cycle Based Evaluation of Aircraft Technologies, Maintenance Strategies, and Operational Decision Making Using Discrete Event Simulation

et al. 2021

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Current practices for investment and technology decision making in aeronautics largely rely on regression-based cost estimation methods. Although quick to implement and easy to use, they suffer from a variety of limitations, both in temporal space and scope of applicability. While recent research and development in this area addresses these to a certain extent, aerospace engineering still lacks a flexible and customizable valuation framework. To this end, a generic environment for economic and operational assessment of aircraft and related products named LYFE is presented. This tool employs a discrete event simulation which models the product life cycle from its order through decades of operation and maintenance until disposal. This paper introduces its key characteristics and default methods alongside its modular program architecture. The capabilities are demonstrated with a case study of on-wing engine cleaning procedures which are triggered by a customized decision making module. Thereby, the impact on engine health, fuel efficiency and overall economic viability is quantified. On the whole, the framework introduced in this paper can be used to analyze not only physical products but also operational procedures and maintenance strategies as well as specified decision making algorithms in terms of their impact on an aircraft’s or system’s life cycle.

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Section: Comparable Workmentioning

confidence: 99%

A Modular Framework for the Life Cycle Based Evaluation of Aircraft Technologies, Maintenance Strategies, and Operational Decision Making Using Discrete Event Simulation

et al. 2021

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“…Cost estimation is defined as the process of predicting the cost of system (product) before all the stages of the system development have been executed [9]. There are many methods and models available to conduct LCC estimation ( they can be categorized in four groups: optimization, simulation, estimation and decision support methods and models).…”

Section: Life Cycle Costmentioning

confidence: 99%

Aviation Technology Life Cycle Management: Importance for Aviation Companies, Aerospace Industry Organizations and Relevant Stakeholders

Szabó

Koblen

2017

MAD

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The paper in the introductory part underlines some aspects concerning the importance of Aviation Technology Life Cycle Management and informs on basic international standards for the processes and stages of life cycle. The second part is focused on definition and main objectives of system life cycle management. The authors subsequently inform on system life cycle stages (in general) and system life cycle processes according to ISO/IEC/IEEE 15288:2015 standard. Following the fact, that life cycle cost (LCC) is inseparable part and has direct connection to the life cycle management, the paper contains brief information regarding to LCC (cost categories, cost breakdown structure, cost estimation a.o.). Recently was issued the first part of Aviation Technology Life Cycle Management monograph (in Slovak: "Manažmentživotného cyklu leteckej techniky I"), written by I.Koblen and S.Szabo. Following this fact and direct relation to the topic of article it is a part of article briefly introduced the content of two parts of this monograph ( the 2nd part of monograph it has been prepared for the print). The last part of article is focused on issue concerning main assumptions and conditions for successful application of aviation technology life cycle management in aviation companies, aerospace industry organizations as well as from the relevant stakeholders side.

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“…Indeed, in a similar application, Thokala et al. 7 indicate that the entire asset life cycle needs to be accounted for when trade-off studies are performed for design selection.…”

Section: Aircraft and Engine Valuationmentioning

confidence: 99%

Aircraft and engine economic evaluation for fleet renewal decision-making and maintenance contract valuation

Justin

Mavris

2015

Proceedings of the Institution of Mechanical Engineers, Part G:

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The fleet acquisition process represents a major gamble for airlines and aircraft leasing companies due to the fixed assumptions made when business plans are laid out and the abundance of uncertainties both at the technical and market levels. Indeed, the evaluation of aircraft and engine acquisitions is riddled with uncertainties regarding the product development (development schedule), the economic performance of the assets once in operations (operating cost), and the demand for air transportation. The trend in recent years has been for original equipment manufacturers to offer contracts and guarantees during sales campaigns that limit the exposure of airlines to technical uncertainty and that shift some of the operating risks from the airlines to the manufacturers. Airlines have embraced these “power-by-the-hour” maintenance contracts because they offer a way to mitigate operating risks and to anticipate cash outflows. Estimating the fair value of these contracts is paramount due to the significant risks faced by companies underwriting them. At the same time, valuing them is a daunting task due to the uncertainty regarding maintenance costs and their sensitivity to both the operations and the operating environment. Traditional evaluation methods are not always well adapted to perform these evaluations as they do not capture the problem in its entirety and they tend to oversimplify by using generic routes and surrogate models. This paper simultaneously proposes a customer-centric methodology to properly evaluate long-term aircraft and engine investments and a real-options inspired methodology to value long-term maintenance contracts and manufacturer guarantees.

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Life cycle cost modelling as an aircraft design support tool

Cited by 16 publications

References 25 publications

A Modular Framework for the Life Cycle Based Evaluation of Aircraft Technologies, Maintenance Strategies, and Operational Decision Making Using Discrete Event Simulation

A Modular Framework for the Life Cycle Based Evaluation of Aircraft Technologies, Maintenance Strategies, and Operational Decision Making Using Discrete Event Simulation

Aviation Technology Life Cycle Management: Importance for Aviation Companies, Aerospace Industry Organizations and Relevant Stakeholders

Aircraft and engine economic evaluation for fleet renewal decision-making and maintenance contract valuation

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