Economic Benefits
The low operations and maintenance costs are key factors in the economic benefits of the maglev system. The basic nature of the non-contact electro/magnetic technology means low-wear and less maintenance costs than traditional transit technology. There are no engines with bearings and other moving parts to wear out. Coupled with its fully automatic operation, resulting operating costs are half as high as conventional systems. Low energy consumption is another factor in the economic benefits of maglev. Because the conductors in the guideway are divided into individual sections that are only supplied with power as the vehicle passes, energy is used only when necessary. Maglev allows for smaller turning radii, and has higher grade climbing ability to compare to conventional rail systems. This makes initial routing of the system much more flexible and therefore cost effective.
Economic Detriments of Maglev-Why isn’t it happening?
Until now the high cost of construction of a maglev system including rights-of-ways, guideway and equipment costs has made maglev nothing more than a showpiece of a country’s technological capabilities rather than a transportation solution. Until now maglev systems cost between 50 and 200 million dollars per mile, making maglev the most costly transportation system in the world.