The fundations for asset value modelling.
Aircraft value considerations for technology that has yet to be type certified.
Market pricing data for unknow technologies.
The conundrum for the aviation industry, is that keeping new and used aircraft prices secret to protect the trade secrets of manufacturers, requires lenders, investors, insurers, traders, appraisers, tax authorities and the courts to rely on unknown asset risk value profiles, which will not take shape for a decade or more. This will affect the value of warranties and care and maintenance costs. The aircraft market cannot function without risk takers. The global economy cannot function without a robust air transportation system. They are not mutually exclusive.
Pricing in risks originating from emerging technologies.
Concerns already exist with respect to human-robot collaboration, cyber-safety exposures in connected aircraft, and software, which may change aircraft functionality. Many question the lack of requirements for operating autonomous machines (ones with no flight crew) (drones).
Concerns may arise concerning the lack of requirements for aircraft control mechanisms, in terms of machine learning capabilities and behavior predictability.
The integration of completely new aircraft designs requires a regulatory framework that covers:1. New materials and methods, because they required to be consistent with a universal regulatory framework, yet undeveloped.2. Regulations will have to be put in place for ensuring the safety of parts, systems and subsystems, hardware and software.3. Regulations for aircraft parts manufacturing and aircraft assembly that will use new materials and methods of production such as artificial intelligence (AI).4. The safety and legal liability implications of AI, the internet of things and robotics.5. The need to ensure consistency of AI standards with existing product-safety legislation.6. Conformity assessment procedures that address safety and, care and maintenance, over the aircraft life cycle.7. Expanded enforcement of new legislation through aligning changes with the current treaty, legislative and regulatory frameworks.8. Regulation changes to reduce transitioning costs. 9. Revision to regulations based on (a) a proposal for a regulation, taking account of the impacts of new technologies, (b) improve legal clarity of the current regulatory provisions, (c) reduce certain costs for companies and (d) ensure better coherence with each ICAO member State framework for aircraft type certification. 10. The business side, of the aircraft market will need a level playing field with respect to R&D funding from governments, based on agreed:a. Problem (project) definition. b. Completed in line with the 'evaluate first' principle.c. Risk definition concerning emerging technologies.d. Production of and simplification of the documentation (paper vs digital formats).Then there is the question of how new technology aircraft will be priced ex the factory, published prices, discount practices, depreciation/amortization for accounting purposes, values such as current, future, residual, insurance, repair, rebuild, replace, remake over the life cycle, how long that cycle will be, end of life conversion to other applications, storage and care and maintenance.