Optimal replacement of military aircraft: an economic approach
A. Sokri
Defence and Peace Economics, 2011, vol. 22, issue 6, 645-653
Abstract:
A nonlinear optimization model is developed in this paper to identify the optimal replacement strategy for military aircraft. In the model, the aircraft operating and maintenance (O&M) costs per available year are estimated as a function of age during the aircraft life cycle. After determining the optimal replacement policy, the model is applied to the CF Long-Range Patrol CP-140A Arcturus fleet. A sensitivity analysis is also carried out to assess the impact of some key model parameters on the result.
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:taf:defpea:v:22:y:2011:i:6:p:645-653
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DOI: 10.1080/10242694.2011.577958
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