The global aviation blockchain market is experiencing a noteworthy growth, and will grow considerably in the next few years. Blockchain technology plays an important role in helping the aerospace & defense sector get hold of a clear, obvious, and well-connected supply chain. The presence of huge and convoluted supply chains boosts the demand for this technology in the defense sector which, in turn, supplements the growth of the aviation blockchain market. The blockchain can actually be a potential and promising solution to accumulate aircraft maintenance accounts & archives securely, thereby convoying the much-needed transparency in swapping the information. Maintenance records & diaries, manufacturing facts & specifics, component particulars, and other profound information of the aircraft can be stowed in the private or public blockchain.

The global aviation blockchain market is segmented on the basis of end User, Application, Deployment,  Function, and Region. Based on end User, the industry is further classified into Airports, Airlines, MRO, Manufacturers, and Lessor. Based on application, the market is divided into Passenger Identity Management, Cargo & Baggage Tracking, Flight & Crew Data Management, Frequent Flyer Programs, Smart Contract, Travel Insurance, E-ticketing & Ticket Tokenization, Aircraft Refueling, Airline Revenue Sharing, Leasing, Supply Chain Management, Parts Tracking, Parts Health Monitoring, Inventory Management, and Aircraft Maintenance. Based on deployment, the report categorizes the market into Public, Private, and Hybrid. Based on function, the market is bifurcated into Record-keeping and Transactions. Geographically, the global market is analyzed across North America, Asia-Pacific, Europe, LATAM, and MEA. 

Key players of the global aviation blockchain market analyzed in the report include IBM (US), Zamna Technologies (UK), Winding Tree (Switzerland), Aeron Labs (Belize), Moog Inc. (US), Filament (US), Infosys (India), Insolar Technologies (Switzerland), Microsoft Corporation (US), LeewayHertz Technologies (US), and Volantio Inc (US). 

Top impacting factors-

Blockchain  all owsinvestors and sponsors of the aeronautics industry to share a disseminated digital ledger which stockpiles important flight as well as supply chain data of the respective airlines, giving way to well-ordered and effective operations that lead to cost savings. This factor has worked as the major driving factor for the growth of the global aviation blockchain market. At the same time, enhanced passenger experience, amplified transparency of operations, and abridged maintenance cost augment the market growth even more. Moreover, rise in investments in R&D of commercial aviation for providing greater protection against cyber extortions and generating safe & protected government portals are expected to create a number of opportunities for the key players in the industry.

The digital ledger provides real-time information-

Blockchain comes with every potential to perfectly record each time a part is mounted or taken off from an aircraft. It can also put down how long the part being swappedor supplanted was in utility. All the important credentials of the engineers performing the repair get also documented perfectly. Significant rise in the use of blockchain technology in airlines to dole out real-time information that containsevery relevant information concerning the passengers and the authority is fueling the market growth in more than one way. 

For an example, S7 Airlines is reported to rig out tickets to passengers through blockchain technology. The objective is to simplify the payment process, minimizing the settlement time that would have, otherwise, taken around two-three weeks to process. Lufthansa Industry Solutions, on the other hand, has also hurled the initiative called Blockchain for Aviation (BC4A). 

Military drones to be managed by aviation blockchain-

Aviation blockchain is also used by military men for managing drones. These drones are used to serve a wide array of grounds and occasions, especially in circumstances where manned flight is too dicey, unsafe or seemingly dangerous.  The U.S. Department of Transportation has stated that it’s taking recourse to blockchain technology to enrich and heighten the security of UAVs, flight authorization, access management, and air traffic. Blockchain technology in the military division is now widely used to uncover and outline defense-related bonds, pacts, indentures and shipments with depletion in operational complexities.  

Moreover, blockchain technology helps industry partakers and accomplices in competently managing the inventory. For example, Lufthansa Technik and Air France KLM are making their way to the utilization of blockchain technology to control and in-service airplanes.

Key benefits of the report:

• This study presents an informative depiction of the global aviation blockchain industry along with the current trends and future estimations to support the investment pockets.

• The report also reveals information with respect to key drivers, restraints, and opportunities coupled with a comprehensive analysis of the global aviation blockchain market share.

• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global aviation blockchain market trends.

• Porter’s five forces analysis demonstrates the influence of buyers & suppliers in the market. 

• The report provides a detailed market study based on economical intensity and how the global competition will take shape in the near future. 

Scope of the report:

Key segments:

Questions answered in the Aviation Blockchain Market research report:

• What are the key market players active in the aviation blockchain market?

• What are the prevailing market dynamics in the market?

• What are the current trends that are likely to determine the global aviation blockchain market analysis in the next few years?

• What are the driving factors, restraints, and opportunities in the market?

• What are the forecasts for the future that would aid in taking further preemptive steps to boost the global aviation blockchain market growth?