A System Dynamics Approach for Dynamic Uncertainty Assessment in a PAV Design Environment

One the most critical barriers to the advancement of Personal Air Vehicles in today's market environment is that the technological capabilities can never seem to outweigh the risks associated with financing such an endeavor. To address such a need, a system dynamics approach with the capability to model the uncertainties in the supply chain is presented in this paper. The overall modeling framework is first presented and the modeling process of the various relevant elements, such as demand prediction and manufacturer analysis, is then described. The aim of this research is ultimately to assess the viability of a next-generation aircraft program beyond the static confines of a net present value approach, through the inclusion of dynamic events and uncertainties that can occur throughout the life-cycle of the aircraft.