Air carrier Captain reported a recent flight departing LAS included 73 NOTAMs of which many did not apply to their flight. The reporter stated industry vendors '...have built tools for for streamlining the distribution of NOTAMs..narrowing the scope of NOTAMs to the procedures applicable to a flight. Yet; the FAA has not developed a standard for categorizing NOTAMs by risk or applicability.'

Narrative

During preparation for our flight LAS-ZZZ; I reviewed all NOTAMs for the trip; as usual. Reviewing and decoding NOTAMs is a slow and time consuming process. All of it is in code developed generations ago. Since there is insufficient time to fully review NOTAMs; weather; aircraft maintenance status; operational issues and a variety of other information in the hour between company show time and pushback from the gate; my practice is to review NOTAMs and weather from home the night before the trip and again in the morning before I drive to work. For this trip; one of the many (73) NOTAMs applied to LAS follows. !LAS 01/104 LAS OBST TOWER LGT (ASR 1200185) 360421.50N1151201.20W (2.4NM W LAS) 2357.0FT (60.0FT AGL) U/S 2301201520-2304200500This NOTAM highlights a key failing of the FAA's NOTAM system. For all of the emphasis in the last decade on SMS; and the application of risk and threat assessments to operations; the NOTAM system remains nevertheless not classified by risk. I understand that a helicopter pilot may see this NOTAM as important; but there is no threat to my flight from an unlighted tower 2.4 miles west of the airport at 60 feet. To put that in perspective; the tail of my aircraft stands 40 feet high; and to get to that tower; I would first have to fly through the Las Vegas Strip where buildings stand hundreds of feet high just west of the runway complex.Typically; the printed flight paperwork for my flights ranges between 30 and sometimes over 80 pages in length. If each page was taped end to end; that equates to approximately 30 to 80 linear feet of information that the PIC must absorb and apply; in accordance with 91.103 - all of it in the form of code - just for one flight segment. NOTAMs are a large portion of that information. Yet; I must review all of it in an effort to sort through those NOTAMs which may or may not be applicable to my flight; and determine the relative risk or threat of each. And I have to do this for each and every flight segment. Today's trip includes 4 flight segments; with potentially 200+ pages of preflight information. Oh; and I still see the 3/4 page long Disneyland NOTAM in every preflight package; which has been in place since 9/11. The true threat is not the 60 foot tower 2.4 miles from the airport; but the un-assessed and unfiltered volume of coded information which is overwhelming our system. From a human factors perspective; pilots will 1) make mistakes in reviewing large volumes of NOTAM information; missing key items; 2) become complacent when continuously bombarded with NOTAMs; and fail to conscientiously study them; and 3) error in assessing the relative applicability and threat of one versus another.The technology exists to fix this. Industry vendors (WSI; Foreflight; Jeppesen; and others) have built tools for decoding and presenting NOTAMs in graphics; for streamlining the distribution of NOTAMs; and in the case of Jeppesen; narrowing the scope of NOTAMs to the procedures applicable to a flight. Yet; the FAA has not developed a standard for categorizing NOTAMs by risk or applicability. Moreover; company policy establishes that the only authorized NOTAM method is the un-decoded FAA format delivered in the flight paperwork.Recommendations as follows. Gather internal company data relative to NOTAM-related events. Formally advise the pilot group and dispatchers that the company is seeking to understand the threat of NOTAMs to our operation; and prepare for them a dedicated form in [our company notification system] for specifically capturing events related to NOTAM issues. Seek FAA approval and formally adopt and incorporate in the company policy that the Jeppesen Flight Deck Pro or some other tool for NOTAM organization and presentation be approved for flight crew use.In coordination with [an industry advocacy group]; submit a request that the ASIAS IAT conduct a directed study of available FUSION data to characterize and evaluate the risk to the industry due to the deficiencies of the current NOTAM system. Focus on the two deficiencies detailed in this report. NOTAMs are not ranked by relative risk; and NOTAMs are not filtered by applicability to a flight or operation. Encourage the ASIAS IAT to emphasize NOTAM risk at the fall 2023 InfoShare; in order to motivate the industry to collaborate on understanding the risk and developing new tools and methods.