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Low technology readiness levels (TRL) technologies are attractive to the aerospace industry because their maturation cycles can happen simultaneously with the development lifecycle of the aircraft. However, due to the limited knowledge about a new technology in system evaluation, a low TRL technology's high potential is counterbalanced by its inherent high risk and high uncertainty. As a result, the assessment of the potential impact of low TRL technologies on a new system is exceedingly difficult. In this thesis, a modified Technology Impact Forecasting (TIF) methodology has been proposed that incorporates the novel use of possibility distributions to more accurately quantify the potential of a low TRL technology on a baseline system.