Aircraft industry production potential development management under temporal restrictions

Economics and management


Аuthors

Vdovenkov V. A.

Moscow Aviation Institute (National Research University), 4, Volokolamskoe shosse, Moscow, А-80, GSP-3, 125993, Russia

e-mail: kaf506@mai.ru

Abstract

The principle strategic planning documents — the State program of the aviation industry development until 2025, the Federal target programs — dictate the multiple increase of new technological level aircraft manufacturing, which requires large-scale construction of new production facilities and modernization of existing facilities. They demanded that Russian aviation industry to switch to import substitution for high-tech aircraft component production at a growing rate. At the same time, the major problem of the Russian aviation industry development began the delays of enterprises’ technical re-equipment and modern production facilities creation investment projects’ implementation. The result is shifted delivery of high demand products, the loss of the industry’s competitive position in the market and direct economic loss due to use of outdated technologies.

In this article we propose a simple method for estimating these losses, depending on the duratuion of this delay and technological parameters of production processes. It allows us to estimate what the increase in investment would be justified, if it were possible to avoid delays in the implementation of the investment project. The method relies solely on measurable indicators that can be found in the available statistics. It is shown that the refinement of the investment project parameters requiring delay its implementation for a year, may not be economically justified unless it can reduce the required investment volume by 20-30%. This conclusion should be taken into account in the process of financing for development of the aviation industry companies.

We also systematize the institutional and organizational factors that cause significant delays in the implementation of investment projects in the industry. These factors take place at the level of the enterprises and integrated structures, and at the level of the whole industry. The need for accelerated development of the Russian aviation industry industrial potential and accelerated development of new products requires changes in the procedures of making decisions about allocating financial resources, monitoring their effective and targeted spending.

Keywords:

aviation industry, production potential, investment projects, efficiency, losses, time lag, asessment

References

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