Business Models for Commercial Aerospace Batteries A case-study of Heart Aerospace, a reserve-hybrid electric aircraft manufacturer

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This master thesis analyzes various business models for aerospace batteries and evaluates their compatibility with long-term strategy, risk tolerance, market fit, and financial implications. The study aimed to identify the business model most suited for a new entrant in the commercial aerospace industry by investigating the activities and costs introduced in the industry as a result of electrification, and the strategic and financial implications of aerospace battery business models. The research methodology included an analysis of four pre-selected business models, an industry analysis to gain insights into the broader market dynamics and trends, an internal analysis to evaluate the alignment of Heart Aerospace’s long-term strategy with the selected business models, and a thorough financial analysis to assess the economic viability and potential outcomes of each model. The findings indicate that all models have their advantages and disadvantages. However, a strategic partnership or joint venture (JV) business model had the strongest mix of net present value, internal rate of return, risk-sharing, and retention of strategic control of the battery business. The business model structure was supported by the literature, allowing airlines to fully focus on their core business by outsourcing battery operations. Reviewing the industry key success factors, Heart Aerospace must have a value proposition that offers low and predictable operational costs for airlines and maintain strategic control of the battery aftermarket to attain a sustainable competitive advantage. Overall, the study's results provide valuable insights for new entrants in the commercial aerospace industry, by mapping advantages and disadvantages of different business models and identifying challenges and ways to mitigate them. Keywords: business models, service management, aerospace batteries, electrification of aviation, sustainable competitive advantage

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business models, service management, aerospace batteries, electrification of aviation, sustainable competitive advantage

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