Can you tell me the advantages / disadvantages of abdominoplasty versus panniculectomy?

Very Different. The operations are very different. Tummy tuck operation typically involves excision of excess skin/adipose tissue, re approximation of abdominal wall muscles that may have spread with weight gain/loss or pregnancy, and sometimes liposuctioning. Panniculectomy, on the hand, involves ONLY removal of excess skin/adipose tissue of the lower abdominal wall; much less of an aesthetic outcome...
Simillar. Panniculectomy is a "medically necessary" procedure in which a large amount of an overweight person's obese abdomen is removed because it causes issues like reduced mobility, rashes, difficulty fixing hernias, etc. Abdominoplasty is a cosmetic procedure to firm and improve the abdomen's look. Abd. Wall is often tightened with sutures, pts are not usually overweight- just loose skin/abd. Wall.
Apples & Oranges. A dermolipectomy, or panniculectomy, is a procedure that removes the excess apron of skin, but does not tighten the muscle. A tummy tuck also tightens the muscle. A tummy tuck benefits people who want as flat a stomach as possible and who have a separated rectus abdominis muscle. A panniculectomy benefits people who have wrinkly or excess skin, but reasonably good muscle tone.
Same. Panniculectomy usually refers to the amputation of the pannus of skin of the lower abdomen for functional reasons, while abdominoplasty undermines above the belly button and then recontours the skin.