Published on : Tuesday, August 8, 2017
It is according to new research done by Swiss bank UBS which claims that the airline company could save airlines billions of dollars, which can touch up to $35 billion.
The pilotless planes can reduce the intervention of human pilots on aircraft that could bring material economic benefits and improve safety.
The analysts from the Swiss bank UBS stated that in terms of material benefit, by taking the option of pilotless planes, the aviation company can save up to $35 billion per year on the term of industry basis.
To uncover these savings, Swiss Bank UBS suggested that the economic sector in aviation world would have to look at a number of elements, which is including, how airlines could benefit from lower operating and training costs, reduced fuel costs and insurance premium costs.
The Swiss bank also said that, one can save26 billion in pilot cost savings for commercial airline firms alone.
It is assumed that on the timing roll out of pilotless planes, the aviation industry can take an opportunity in cargo industry. The commercial aircraft use computers and technology on-board to assist in a number of functions, including the autopilot system.
In June, Boeing stated that it was looking into the idea of pilotless technology, and last week announced that it was to set up an avionics group, in order to create aircraft controls and electronics.
UBS also added that, the investors were pricing in any advantages for the commercial airlines as these benefits may be more than 5 years.
But there is an issue of unemployment in this aviation industry if this system will be taken. Out of the 8,000 people who participated in a recent UBS Evidence Lab Survey, 54 percent said they were reluctant to take a pilotless flight, with only 17 percent stating that they would likely welcome the opportunity.
The UBS also states that, the youngsters are willing to embark on the pilotless planes. It could be beneficial for the industry if it is accepted by the aviation world if the total security is ensured to the passengers.