Drone Economic$
Succeeding With the Worlds Newest Form of Transportation
Darryl Jenkins & Bijan Visagh
Drone Economics, LLC
Copyright 2021 Drone Economics, LLC
No part of this book may be reproduced in any form, except for brief quotations or citations in reviews or academic publications.
Formatted by Albatross Design Co.
www.albatrossdesignco.com
Please contact the publisher for other permissions.
Publisher Drone Economics, LLC PO Box 250
Marshall Virginia 20116-0250
Covid-19 Statement
This book was in editing, and layout, during the beginning of the pandemic. We will wait until the second edition to comment and discuss its implications.
Our Website and YouTube Channel
Beginning March 1, 2021 you can visit our website located at:
www.droneecon.com .
There will be over forty short length videos, and PowerPoint Presentations going into more detail about the content in this book. Also please subscribe to our YouTube channel entitled:
drone economics .
Acknowledgments
First and foremost to our wives, who have put up with us though many book manuscripts (Arlene and Behnoosh).
Cov er Design
C.S. Fritz
Edi torial team
Lanna Carter Broyles and David Wardell
Lay out
David Wardell
Formatting
Albatross Design Co.
Res earch Team
David Beckerman, Brigham Stacey, Ryan Anderson, Tyler Critchfield, David Stoker, Maryn Turley, Mac McKee, Cal Coopman, Alfonso Tores-Rua, and Austin Jensen.
Rev iewers and Others
Ben Baldanza, Joe Eyerman, Clint Oster, John Kefalotis, Michael Dyment, Robert Hoffman, Adam Robertson, Allan McArtor, Tom Mclain, David Klein, Greg Walden, Henry Hardeveldt, Michael Miller, Marshall Wright, and Tulinda Larsen.
Abo ut the Authors
Figure 1: D arryl Jenkins
DARRYL JENKINS
Born in Michigan, and educated in Utah and Arizona, Darryl Jenkins has been interested in aviation since he was nine years old. His first experiences in aviation were as a travel agent.
His aviation experience covers almost forty years. Previously, he was at GWU for fifteen years and served as one of the founding directors of the GWU Aviation Institute and was the Director of the Graduate Certificate Program in Aviation Management from 2001 to 2003. While at GWU, he was one of the leads in organizing the White House Conference on Aviation Safety and Security, during the Clinton Administration. As a consultant he has worked for most the worlds top fifty airlines. In addition, he has consulted for many foreign countries and has completed research for the FAA, NTSB, and other government agencies. He is happily married to Arlene Kirby and they live on a small farm in Fauquier County Virginia. He is an active gardener and naturalist and an unabashed Jane Austen enthusiast.
He completed the first economic impact study of integrating UAS into the National Airspace for the trade group AUVSI.
In addition, he is on the board of two UAV Startups and advises three UAV venture funds.
He is a regular commentator for the major media (ABC,
NBC, CBS, Fox, CNN, MSNBC, and CNBC) on aviation issues and is regularly quoted in the print media as well. He is a also speaker at trade and other conferences and is the author of fifteen books. His best-known book is the Handbook Of Airline Economics published by McGraw-Hill, which went through three editions and numerous printings.
He has authored over 100 articles on the airline/airport/aerospace industry and has been the lead author in over 12 books.
Dr. Bijan Vasigh
Dr. Bijan Vasigh is a professor of Economics and Finance in the College of Business at Embry-
Riddle Aeronautical University, Daytona Beach Florida. He has focused his research, teaching, and consulting on the theory, modeling, and application of financial instruments in transport finance. He is the author of North Americas leading aviation textbooks, including An Introduction to Air Transport Economics: From Theory to Application , Foundation of Airline Finance: Methodology and Practices , and Aircraft Finance: Strategies for Managing Capital Costs in a Turbulent Industry .
Vasighs work has led to formal collaborations with multiple domestic government agencies and foreign governments, such as the International Civil Aviation Organization (ICAO), the Association of Unmanned Vehicle Systems International (AUVSI), the International Air Transport Association (IATA) Learning Center, and NASA on a grant on Determination of Statewide Economic Benefits of the Small Aircraft Transportation System (SATS). He has been interviewed and quoted by national and international news media, including The Washington Post , Wall Street Journal , NBC News , CBS News , USA Today , Forbes , Bloomberg Business , National Public Radio (NPR) Marketplace, Voice of Russia, El Pais (Spain), Rzeczpospolita (Poland), Trinidad Express , Cuba News , and The Guardian (United Kingdom), among others.
About the Book
Drones, eVTOL and other new methods of transportation can change many facets of our lives. It is an exciting time to be alive and watch all these changes. While knowledge of the various technologies is advancing rapidly, we need to take time now to carefully ponder the market dynamics and economic nature of these emerging technologies. With Drone Economics, Darryl Jenkins and Bijan Vasigh have created an excellent beginning to this branch of knowledge, which will become an instant classic.
T. Allan McArtor
Former administrator of the U.S. Federal Aviation Administration, and former Chairman of Airbus
North America Holdings, Inc.
Darryl Jenkins and Bijan Vasighs book Drone Economics is a bible for disruptors, as it outlines both the practical and the possible with this amazing technology.
Ben Baldanza
Former CEO of Spirit Airlines Board Member
at JetBlue Airways CEO of Diemacher, LLC
Adjunct Professor of Economics at George Mason University
There are more than a half a million drones in commercial service in the U.S. alone. The global commercial drone market is expected to increase exponentially in the next five years. This book is essential to understanding the economics of this burgeoning industry. Im not a newcomer to this field, and I learned something on every page. I strongly recommend it.
Alan J. Stolzer, Ph.D., FRAeS
Professor and Dean, College of Aviation
Embry-Riddle Aeronautical University
Darryl Jenkins and Bijan Vasigh have always been out in front of aviation issues, so it is no surprise that, in this book, they analyze the emerging drone industry. As our faithful scouts, they have provided us with a view and pathway to a successful UAV future.
Irwin Price
Former Chancellor (Retired) of Embry-Riddle
As the nascent drone industry, with all its acronyms, continues to burgeon, we need authors who are willing to provide measuring tools, guideposts, and thought experiments to navigate the unblazed path. Jenkins and Vasigh have the experience of closely studying airline and aircraft economics for many years. This book laying out the latest thinking is where everyone should start.
