Avery aircraft undergoes 5 different stages of its life which can be named as an asset life-cycle.
“Asset lifecycle represents the life of an asset or the time from its first use until it is no longer able to be used. This lifecycle can be measured in days or years and can take into account factors like age, regular maintenance, preventive maintenance, manufacturer's expected life, etc.” (dudesolutions.com, 08.04.2018)
The first stage is the design phase where it is suggested as only an idea on the paper, sometimes called the maturity stage. The starting phase, where manufacturers like Boeing, Airbus, Embraer are trying to see the future and strive to make a difference by developing more fuel-efficient, quiet, safe and cost-effective aircraft; the effort to reach perfection within facilities and the feedbacks obtained from the other four subsequent phases. The competition to capture the perfect composition of many variables such as what innovation will be made in comparison to the old ones, its size, capacity, range, geometrical shape and aerodynamic features. In other words, it is a first step where the key decisions are made.
The second stage is the production phase when all decisions have been made and mass production has begun. A brand-new aircraft that went through various testing, procedures, certifications and approvals by Manufacturer, applicable aviation authority and other EOM’s. The phase ends with the plane being delivered from the factory to its owner, where it is in the spotlight and expected to prove itself, where great hopes are set and the investment made is seen fully for the first time.
The third stage is the operational phase. It is very important as a new aircraft is tested in the real environment with cargo and/or passengers on board, during various atmospheric and weather conditions, different altitudes, load factors and terrain. Now the theoretical calculations and promises are behind and the aircraft and its manufacturer proves the viability and safety of their product to the general public. This stage is one of the most important as it will show all the issues that were missed during the first 2 stages as the number of variables of something going wrong increases exponentially. A good example is Boeing 737 Max program, where the aircraft was fully certified and received all required approvals and airworthiness certificates for safe operations. Unfortunately, after 2 catastrophic events, all delivered aircraft were grounded for almost one and a half years.
The fourth is the maintenance and repair stage. Another critical phase that shows how well new technology can withstand continuous utilisation and what issues arise from it. There are a lot of variables during this stage for different parties these variables will be different, but cost and maintenance times are crucial. The more time the aircraft is flying more money and revenue it generates. This stage will define the future financial viability of the aircraft and how popular it will be between lessors and airlines.
The fifth and final stage is the scrapping and recycling phase or in other words end-of-life phase. The stage when new technology takes advantage and maintenance of the aircraft becomes too expensive. The most precious phase is full of wisdom in its world and that offers invaluable data that can be used in the conceptual design of new products when aviation knowledge accumulation is concerned. End-of-life does not mean that aircraft will be parked on the scrapyard or completely scrapped, as many airplanes are converted into cargo aircraft if it is suitable as a flyer to run off green time, or it can satisfy a part-out supply of the component aftermarket based on the commercial strategies of the investors.
Aviation is evolving, competitive and continuously innovative industry where each new airplane undergoes from stage one to five. An incorrigible explorer craving perfection through constant improvement.