What is Service Life

What is Service Life

What is Service Life Jonathan Poland

The service life of a product refers to the length of time it can be used before it needs to be disposed of or recycled. This includes the period from when the product is manufactured until it is no longer usable. The term can also be used to describe the lifespan of other physical items, such as infrastructure, buildings, industrial equipment, and vehicles. The following are examples.

Architecture

A high rise building may have a service life of 50 years or more. Estimates of service life are relevant to financing arrangements and insurance.

Aircraft

The service life of commercial aircraft commonly exceeds 20 years. Estimates of service life are important to financing and investment decisions for airlines. As aircraft age, they typically require more extensive maintenance to guarantee safety.

Products

Manufacturers of products may provide conservative estimates of service life of several years. This may be done in an attempt to encourage customers to buy again and to limit product liability.

Infrastructure

Infrastructure such as solar panels may offer a long warranty in order to increase bankability and allow financing arrangements to span decades.

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Key Bridge

People. Profit. Progress.

Business is the lifeblood of progress and you are the driving force regardless of where you fit in the value chain. People drive profit by bringing useful products and services to market. Profit drives progress by allowing the best ideas to emerge and the best investments to win.

This is the cycle of capital that moves the world forward and that’s why I started Key Bridge, a private membership for the pursuit of profit and progress; a platform for building better assets, tackling global challenges, and advancing the greater good.

Key Bridge

People. Profit. Progress.

Business is the lifeblood of progress and you are the driving force regardless of where you fit in the value chain. People drive profit by bringing useful products and services to market. Profit drives progress by allowing the best ideas to emerge and the best investments to win.

This is the cycle of capital that moves the world forward and that’s why I started Key Bridge, a private membership for the pursuit of profit and progress; a platform for building better assets, tackling global challenges, and advancing the greater good.