Report: Pilotless planes could save airlines billions of dollars

According to a UBS note,

“Reducing the intervention of human pilots on aircraft could bring material economic benefits and improve safety.”

Pilotless planes could a futuristic mode of transport. According to a new research by Swiss bank UBS, it will also be economically-beneficial and could save airlines billions of dollars.

The bank stated that there could be a profit of more than $35 billion annually for the aerospace and aviation industry.

However, a recent UBS Evidence Lab Survey showed that 54 percent of participants were hesitant to take a pilotless flight.

According to a UBS analyst:

“Reducing the intervention of human pilots on aircraft could bring material economic benefits and improve safety.”

In order to benefit from these savings, the bank suggested that the sector would have to  look at various elements. That includes how airlines could take advantage from lower operating and training costs, reduced fuel and insurance premium costs. On the whole, the Swiss bank stated that there could be $26 billion in pilot cost savings for commercial airline firms alone.

“The opportunity, we believe, would be dependent on the timing of the roll-out of pilotless planes and we think it is likely we would initially see cargo the first subsector to adopt new related technologies, with the number of pilots falling from two to one and eventually from one to none.”

Other than considering customer viewpoints towards pilotless planes, the bank noted that there would be “design, security and technological challenges” facing the idea of tunring this into a reality, in addition to the need for more regulation in this domain.

 

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