Engineering Economics for Aviation and Aerospace

It is essential for all engineers and practitioners to have a fundamental understanding of estimating cash flows, costing projects, and evaluating alternative projects and designs on an economic basis. This book provides the tools and techniques necessary for engineers to economically evaluate their decisions and designs. For example, the supersonic Concorde aircraft was considered to be the most sophisticated aircraft, flying at twice the speed of sound, and known by many people as an aviation icon and an engineering phenomenon. But the very high costs of research and development, in addition to expensive operating costs made the commercial operation of Concorde uneconomical. After producing 20 aircraft, in 1979, the program was terminated because of the lack of demand by airlines due to these high operating costs.

Most of the engineering economics and financial mathematic books available in the market have taken either a pure theoretical approach or limited applied application without justification. This book incorporates both of the approaches synchronously, theory and well justified application. This book provides students and practitioners with the necessary mathematical knowledge to evaluate alternatives on an economic basis especially in the field of aviation and aerospace.

Dr. Bijan Vasigh is Professor of Economics and Finance in the College of Business at Embry-Riddle Aeronautical University, USA.

Javad Gorjidooz is Director of Global Business Program and Professor of Finance, Embry-Riddle Aeronautical University, USA.