Technical Advances in Aviation Electrification: Enhancing Strategic R&D Investment Analysis through Simulation Decomposition

Mariia Kozlova, Timo Nykänen and Julian Scott Yeomans
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Mariia Kozlova: School of Business and Management, LUT University, FI-53851 Lappeenranta, Finland
Timo Nykänen: School of Energy Systems, LUT University, FI-53851 Lappeenranta, Finland
Julian Scott Yeomans: Operations Management and Information Systems Area, Schulich School of Business, York University, Toronto, ON M3J 1P3, Canada

Sustainability, 2021, vol. 14, issue 1, 1-12

Abstract: Computational decision-making in “real world” environmental and sustainability contexts frequently requires the need to contrast numerous uncertain factors and difficult-to-capture dimensions. Monte Carlo simulation modelling has frequently been employed to integrate the uncertain inputs and to construct probability distributions of the resulting outputs. Visual analytics and data visualization can be used to support the processing, analyzing, and communicating of the influence of multi-variable uncertainties on the decision-making process. In this paper, the novel Simulation Decomposition (SimDec) analytical technique is used to quantitatively examine carbon emission impacts resulting from a transformation of the aviation industry toward a state of greater airline electrification. SimDec is used to decompose a Monte Carlo model of the flying range of all-electric aircraft based upon improvements to batteries and motor efficiencies. Since SimDec can be run concurrently with any Monte Carlo model with only negligible additional overhead, it can easily be extended into the analysis of any environmental application that employs simulation. This generalizability in conjunction with its straightforward visualizations of complex stochastic uncertainties makes the practical contributions of SimDec very powerful in environmental decision-making.

Keywords: business aviation; turboprop; electric motor; specific power; Monte Carlo simulation (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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