Cost-benefit analysis of aircraft design for environment using a fleet perspective and real options

Traditional multidisciplinary design optimization (MDO) approaches do not examine the costs associated with damage due to environmental factors and are usually implemented to examine one aircraft. The Environmental Design Space (EDS), an MDO tool, needs cost models that can incorporate the damage cost benefits of environmentally driven design changes both on a single aircraft and throughout a model fleet. It is important that the EDS framework also has a capability to assess the impact of future environmental technologies. Operating cost and fleet representation modules are created for the Environmental Design Space to calculate aggregated fleet effects for operating cost and emissions for current and evolving aircraft fleet. A case study involving a cost-benefit analysis of a NOx stringency mandate is conducted using the modules to assess the limitations of EDS. To assess the impacts of future environmental technologies, a real options framework is created using financial theory and applied to an engineering context. This framework is then used to derive a current monetary value for the option to include a noise reduction technology, trailing edge fan blowing, into an aircraft system.

Department dc:contributor.department

Massachusetts Institute of Technology. Dept. of Aeronautics and Astronautics.

Grantor dc:publisher

Massachusetts Institute of Technology

Year dc:date.issued

2005

Author dc:creator

• Hynes, Christopher Dennis

Advisor dc:contributor.advisor

• Karen Willcox.

• Aeronautics and Astronautics.

Statement dc:rights

• M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission.

Licence dc:rights.uri

• http://dspace.mit.edu/handle/1721.1/7582

Language dc:language.iso

eng

Handle dc:identifier.uri

http://hdl.handle.net/1721.1/34140

OAI identifier oai:identifier

oai:dspace.mit.edu:1721.1/34140