idroba is correct; an electric on-demand water heater is not feasible with the standard electric wiring for an Airstream. You would have to re-engineer and replace everything from the water heater, wiring, circuit breaker and panel, all the way to the power plug for the trailer.
There are propane options for tankless on-demand water heaters, but you will pay more for one versus a standard water heater with a tank. Depending on usage, over a long period of time, you could see a return on the cost of propane, but it would take a while.
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