This study investigated the feasibility of applying piezoelectric energy harvesting technology in airfield pavements through mechanistic modeling and economic analysis. The energy harvesting performance of piezoelectric transducers was evaluated based on mechanical energy induced by multi-wheel aircraft loading on flexible airfield pavements. A three-dimensional finite element model was used to estimate the stress pulse and magnitude under moving aircraft tire loading. A stack piezoelectric transducer design was used to estimate the power output of a piezoelectric harvester embedded at different locations and depths in the pavement. The aircraft load and speed were found to be vital factors affecting the power output, along with the installation depth and horizontal locations of the energy harvester. On the other hand, the installation of the energy module had a negligible influence on the horizontal tensile strains at the bottom of the asphalt layer and compressive strains on the top of the subgrade. However, the near-surface pavement strains increased when the edge ribs of the tire were loaded on the energy module. Feasibility analysis results showed that the calculated levelized cost of electricity was high in general, although it varies depending on the airport traffic levels and the service life of the energy module. With the development of piezoelectric materials and technology, further evaluation of energy harvesting applications at airports needs to be conducted.