Chicago, Aug. 18, 2023 (GLOBE NEWSWIRE) -- The Aviation Blockchain Market by End Market (Airports, Airlines, MRO, Manufacturers, Lessors), Application (Smart Contracts, Supply Chain Management, Aircraft Maintenance, Cargo & Baggage Tracking), Deployment, Function, Region", Increased traceability and transparency, multivariate applications of blockchain, and reduction in cost and transactional complexities are some of the key drivers influencing the growth of the aviation blockchain market.
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Key Market Players in Aviation Blockchain Market
- Microsoft Corporation (US),
- IBM (US),
- Zamna Technologies (UK),
- Aeron Labs (Belize),
- Winding Tree (Switzerland),
- Volantio Inc (US),
- Filament (US),
- Infosys (India),
- Insolar Technologies (Switzerland),
- Leewayhertz Technologies (US),
- Moog Inc. (US.
“Browse in-depth TOC on "Aviation Blockchain Market Trends, Growth Drivers"
109 – Tables
32 – Figures
166 – Pages
The Aviation Blockchain Market in North America is projected to grow at the highest CAGR during the forecast period.
The aviation blockchain market in North America is projected to grow at the highest CAGR during the forecast period. North America is the most advanced region in terms of technology adoption and infrastructure. Increasing the adoption of technology by airlines and airports in this region is one of the major factors impacting the growth rate of this region. The presence of key market players and major airports are the main factors driving the growth of the North American aviation blockchain market.
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By end market, the airlines segment is estimated to lead the aviation blockchain market
The airlines segment is estimated to lead the aviation blockchain market. Aircraft being stationed on the ground for a longer period is a major concern for the airline as they operate within a limited profit margin and thus, it can incur operational losses. The accurate view of an aircraft configuration and maintenance could help reduce costs and losses related to downtime and unplanned maintenance. Thus, these losses can be avoided by leveraging blockchain technology.
This research report categorizes the aviation blockchain market based on end market, application, function, deployment, and region.
By End Market:
- Airports
- Airlines
- MRO
- Manufacturers
- Lessors
By Application:
- 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
- Aircraft Maintenance
By Deployment:
- Public
- Private
- Hybrid
By function:
- Record-keeping
- Transactions
Asia Pacific is expected to lead the aviation blockchain market during the forecast period.
In Asia Pacific, countries such as China, India, Singapore, and Australia are considered for the study. This region is estimated to lead the aviation blockchain market in 2019. China is projected to leads the aviation blockchain market in Asia Pacific during the forecast period. Blockchain helps create transparent and decentralized business processes. Airports in countries such as Malaysia have implemented blockchain into their operations. For instance, facial biometrics are used by Malaysian Airports from booking to boarding, to identify air passengers. The transportation and trading hubs, such as Hong Kong and Singapore, provide additional opportunities for the adoption of blockchain. The presence of leading aviation blockchain companies in Asia Pacific includes AVINOC Ltd (Hong Kong), Infosys (India), Quillhash Technologies (India), and SkyBuys (Australia).
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