Predicting the unpredictable: General Aviation (GA) aircraft cost estimation evaluation. (July 2022)
- Record Type:
- Journal Article
- Title:
- Predicting the unpredictable: General Aviation (GA) aircraft cost estimation evaluation. (July 2022)
- Main Title:
- Predicting the unpredictable: General Aviation (GA) aircraft cost estimation evaluation
- Authors:
- Shahriar, Ali
Khandoker, Azad
Gessl, Guido
Sint, Sabine
Hamid, M.A.
Tariq, Abrar
Rahman, Al - Abstract:
- Abstract: Cost estimation is an important part of project planning as well as research endeavor. Since the well-established cost estimation models used in the GA aircraft industry are already several decades old, a re-evaluation of their applicability to current market conditions is essential. Reliable cost estimation may also improve the chances to get external funding - a vital point for start-ups. To tackle this issue, we developed a research method to investigate potential cost models for GA aircraft that can serve as a guideline for, e.g., start-ups and research works. After gathering existing cost estimation models, they are classified and analyzed to find the ones most suitable for small aircraft. For evaluation purpose, the two most promising ones are applied to data from existing aircraft models to compare their accuracy and finally the best one is coded as an application in Python to improve usability. With our presented research method we show a possibility to perform early cost estimation for small GA aircraft and offer a software tool to simplify its application. Highlights: Proposal of a research process to explore and analyze different cost models. Investigation of various development cost models for General Aviation aircraft. Evaluation of two General Aviation aircraft development cost models using publicly available data. Implementation of our chosen development cost model for General Aviation aircraft (DAPCA IV) as a software tool.
- Is Part Of:
- Journal of air transport management. Volume 102(2022)
- Journal:
- Journal of air transport management
- Issue:
- Volume 102(2022)
- Issue Display:
- Volume 102, Issue 2022 (2022)
- Year:
- 2022
- Volume:
- 102
- Issue:
- 2022
- Issue Sort Value:
- 2022-0102-2022-0000
- Page Start:
- Page End:
- Publication Date:
- 2022-07
- Subjects:
- GA aircraft -- Cost estimation -- Cost model/method -- Development cost -- Start-ups
Airlines -- Management -- Periodicals
Aeronautics, Commercial -- Management -- Periodicals
387.7068 - Journal URLs:
- http://www.sciencedirect.com/science/journal/09696997 ↗
http://www.elsevier.com/journals ↗ - DOI:
- 10.1016/j.jairtraman.2022.102221 ↗
- Languages:
- English
- ISSNs:
- 0969-6997
- Deposit Type:
- Legaldeposit
- View Content:
- Available online (eLD content is only available in our Reading Rooms) ↗
- Physical Locations:
- British Library DSC - 4926.550000
British Library DSC - BLDSS-3PM
British Library HMNTS - ELD Digital store - Ingest File:
- 21590.xml