Air Traffic Forecasting Using Optimization for Econometric Models

Tolebi Sailauov and Z. W. Zhong
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Tolebi Sailauov: Nanyang Technological University, Mechanical and Aerospace Engineering, Singapore
Z. W. Zhong: Nanyang Technological University, Mechanical and Aerospace Engineering, Singapore

International Journal of Technology and Engineering Studies, 2017, vol. 3, issue 5, 197-203

Abstract: Forecasting has always been playing an important role for any company or organization. Air traffic forecasting is no exception. Accurate air traffic forecasting is essential for planning of future projects, management decisions, such as how much investment is needed, which projects to develop, which projects to postpone, etc. This paper proposes the new way of forecasting of air traffic combining the optimization model with the econometric model. General formulas for calculation of the aircraft volume and passenger volume in airports have been proposed. Using these formulas, an econometric model for passenger volume in Changi airport has been obtained. Furthermore, by using this model, Singapore air traffic passenger numbers have been predicted for 2016-2021.

Keywords: Forecasting; GDP; Model; Simulation; Air traffic (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:apa:ijtess:2017:p:197-203

DOI: 10.20469/ijtes.3.40003-5

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