Multi-Attribute Value Approach to Business Airplane Product Assessment

• Published in: Journal of aircraft 2005-11, Vol.42 (6), p.1387-1395
• Main Authors: Downen, Troy D, Nightingale, Deborah J, Magee, Christopher L
• Format: Article
• Language: English
• Subjects: Air transportation and traffic; Aircraft; Applied sciences; Exact sciences and technology; Ground, air and sea transportation, marine construction; Market analysis; Mechanical engineering. Machine design; Methods; Product development; R&D; Research & development
• ISSN: 0021-8669; 1533-3868
• DOI: 10.2514/1.12594

A new approach to airplane product specification and assessment is introduced for the early, fuzzy front-end product development process. A highly adaptable and generalizable multi-attribute method is developed for rapidly assessing the value of new product designs relative to proposed or existing product portfolios. A process for determining the empirical role product attributes have played in differentiating products in competitive markets is introduced through the use of consumer-revealed preference data. The value approach is applied specifically to the business airplane industry with a discussion of how model parameters were selected, a sensitivity analysis, and comments on the data used in the analysis. Advantages of the new approach vis a vis existing aircraft industry assessment methods include the simplicity of the method, its adaptability to the changing needs of designers, and its ability to more correctly portray aspects of the current and historical business aviation market.