Taxonomy framework of aircraft component lifecycle

Maintaining the airworthiness of aircraft components represents a regulatory imperative and safety-critical function within the aviation sector. The paper describes a comprehensive taxonomic framework delineating the lifecycle of aircraft components, while concurrently proposing a quantitative methodology to evaluate their residual value. Addressing the formulated research questions, the taxonomy encapsulates the principal lifecycle stages, spanning manufacturing, acquisition, operation, maintenance interventions, potential value rehabilitation via modifications, and ultimate disposal upon economic unviability. A method is advanced to quantify the current and projected value of components. Integrating variables such as original cost, accumulated depreciation, rehabilitation costs accrued from repairs and modifications, and associated expenses, the method facilitates the assessment of maximum economically viable operational duration. The taxonomic paradigm and valuation technique are purposefully generalized in holistic framework, ensuring universal applicability across the aeronautical domain, transcending aircraft-specific constraints.