Development of a Strategic Business Decision-Making Environment for Commercial Jet Engine Selection

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AIAA-2003-0720.pdf (363.73 KB)
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Fernandez, Ismael
Briceño, Simón Ignacio
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Daniel Guggenheim School of Aerospace Engineering
The Daniel Guggenheim School of Aeronautics was established in 1931, with a name change in 1962 to the School of Aerospace Engineering
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http://hdl.handle.net/1853/6313
Abstract
In today?s business climate, aerospace companies are more than ever in need of rational methods and techniques that provide insights as to the best strategies which may be pursued for increased profitability and risk mitigation. However, the use of subjective, anecdotal decision-making remains prevalent due to the absence of analytical methods capable of capturing and forecasting future needs. Negotiations between airframe and engine manufacturers could benefit greatly from a structured environment that facilitates efficient, rational, decision-making. Creation of such an environment can be developed through a parametric physics-based, stochastic formulation that uses meta-models to expedite the process. This paper describes such an approach in order to demonstrate the types of insights that might be gained as an engine manufacturer tries to forecast the effects of uncertainties and future vehicle requirements on engine related characteristics for the design of a hypothetical regional business jet. Game theory concepts are suggested as a potential means by which one can attach business payoffs to the selection of any engine design point.
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2003-01
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