DUBLIN, Jan. 21, 2020 /PRNewswire/ -- 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 - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global aviation blockchain market is projected to grow from USD 421 million in 2019 to USD 1,394 million by 2025, at a CAGR of 22.1% during the forecast period.
The aviation blockchain market is growing at a significant pace during the forecast period. Blockchain enables stakeholders of the aviation industry to share a decentralized digital ledger which stores flight data and supply chain data of airlines. It also facilitates smoother and efficient operations that lead to cost savings. Improved passenger experience, increased transparency and traceability of operations, and reduced maintenance cost and transactional complexities are some of the factors driving this market.
By end market, the airports segment is expected to grow at the highest rate during the forecast period.
By end market, the airports segment is expected to grow at the highest CAGR during the forecast period. As per CAPA Centre for Aviation in 2017, around USD 1 trillion was invested across the globe for greenfield and brownfield airport projects. With the passenger traffic and number of inbound and outbound flights growing, airports are focusing on digitalizing and automating processes to increase the efficiency and pace of their operations. For example, airports are adopting blockchain in cargo & baggage tracking, passenger identity management, and smart contract applications.
As the passenger footfall is expected to increase, airports must find innovative business models to lower their operational costs and generate new revenue streams. By leveraging technologies such as blockchain, IoT, and AI, airports can enhance their efficiency specifically in the area of baggage handling and passenger handling.
By application, the smart contract segment is expected to account for the largest share of the aviation blockchain market during the forecast period.
The smart contract segment is expected to account for the largest share of the aviation blockchain market during the forecast period. Smart contracts can facilitate automated payment on completion of the task. A smart contract can be programmed using a computer algorithm that receives real-time information. This information can be verified and stored in the blockchain. Smart contracts can be used in ticketing, aircraft refueling, and leasing and supply chain management.
The aviation blockchain market in North America is expected to witness the highest CAGR during the forecast period.
North America is among the major contributors to the aviation blockchain market. The US is expected to lead the market in North America during the forecast period. North America is the most advanced region in terms of technology adoption and infrastructure. The presence of key market players and major airports are the main factors driving the growth of the aviation blockchain market in North America.
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), and Moog Inc. (US). The study includes an in-depth competitive analysis of these key players in the aviation blockchain market in the industry, with their company profiles, recent developments, and key market strategies.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Aviation Blockchain Market
4.2 Market, By Application
4.3 Market, By End Market
4.4 Market, By Country
5 Market Overview
5.2 Market Dynamics
184.108.40.206 Increased Transparency and Traceability
220.127.116.11 Multivariate Applications of Blockchain
18.104.22.168 Reduces Costs and Transactional Complexities
22.214.171.124 Lack of Regulations and Common Standards
126.96.36.199 Integration of Blockchain with Other Upcoming Aviation Technologies
188.8.131.52 Blockchain Technology in Its Nascent Stage
184.108.40.206 Slow Integration and Reluctance Towards Change in the Aviation Industry
6 Industry Trends
6.2 Technology Trends
6.2.1 Blockchain in Internet of Things (IoT)
220.127.116.11 Blockchain of Things
6.2.2 Blockchain in Artificial Intelligence (AI)
18.104.22.168 Autonomous Blockchain
6.3 Industry Activities and Projects
6.3.1 Blockchain Challenges and Research Projects
22.214.171.124 Aviation Blockchain Challenge
126.96.36.199 Aviation Blockchain Sandbox
6.4 Consortiums & Alliances
6.4.1 Collaborations to Promote the Adoption of Blockchain in Aviation
188.8.131.52 Enterprise Ethereum Alliance (EEA)
184.108.40.206 Hyperledger Consortium
6.5 Use Cases
6.5.1 GE Aviation Formed Partnership With Microsoft Azure to Develop Blockchain Based Solution to Streamline Tracking of Aircraft Parts and Reduce Inefficiencies
6.5.2 Air France KLM Partnered With Winding Tree to Develop Blockchain Based Solution to Offer Customers Attractive Travel Offer
6.5.3 Accenture in Collaboration With Thales Developed Blockchain Prototype Supply Chain Activities for Aerospace and Defense
6.5.4 Sita Collborated With British Airways, Heathrow, Geneva Airport, and Miami International Airport to Explore Smart Contract for Various Aspect of Aviation Industry
6.5.5 Singapore Airlines is Using Blockchain to Help Passengers Maximize Their Loyalty Points and Enhance Customer Experience
6.5.6 Volantio is Helping Airlines and Passengers Overcome the Overbooking Challenge Using Blockchain Technology
6.5.7 Air Newzealand Partnered With Winding Tree to Leverage Blockchain to Streamline Operations
6.5.8 Russian Airline S7 is Using Blockchain Based Platformfor Ticketing
6.5.9 Moog is Using Blockchain Based Solution for 3D Printing of Aircraft Parts
6.5.10 Fizzy, a Smart Contract for Travel Insurance Will Reinforce Trust By Ensuring Total Transparency in Making Policy Payouts.
7 Aviation Blockchain Market, By End Market
7.2.1 Airlines Can Incorporate Blockchain in Cargo & Baggage Tracking and Smart Contracts Applications
7.3.1 Blockchain in Mro is Used for Smart Contracts, Supply Chain Management, and Aircraft Maintenance
7.4.1 Airports are Adopting Blockchain in Smart Cargo & Baggage Tracking, Passenger Identity Management, and Smart Contracts
7.5.1 Aircraft Manufacturers are Adopting Blockchain Technology to Increase Operational Efficiency
7.6.1 Lessors use Smart Contracts for Supply Chain Management Applications
8 Aviation Blockchain Market, By Application
8.2 Cargo & Baggage Tracking
8.2.1 Blockchain Can Help in Tracking the Status and Location of Valuable Assets Such as Passenger Bags and Cargo
8.3 Passenger Identity Management
8.3.1 Passenger Biometrics, Personal Details, and Travel History Can be Stored in Blockchain
8.4 Flight & Crew Data Management
8.4.1 Real-Time Availability of Flight Can be Shared With All Parties Involved By Using a Blockchain Solution
8.5 Frequent Flyer Programs
8.5.1 Reconciliation of Frequent Flyer Points By Tokenizing Miles Flown Into a Digital Currency Using Blockchain
8.6 Smart Contracts
8.6.1 Smart Contract is a Computer Program, Which Can be Used to Verify or Enforce Rules Between Two Parties
8.6.2 Travel Insurance
220.127.116.11 Smart Contracts Can Track Insurance Claims and Hold Either Party Accountable
8.6.3 E-Ticketing & Ticket Tokenization
18.104.22.168 Blockchain Will Ensure Tokens are Used as Per Guidelines and Provide Real-Time Information on Customers' Spending
8.6.4 Aircraft Refueling
22.214.171.124 Post-Completion of Refueling, Payment is Automatically Made Fixing the Initial Fuel Volume and Its Price Using a Blockchain Solution
8.6.5 Airline Revenue Sharing
126.96.36.199 Blockchain Presents an Opportunity to Create a Unified System That Uses Predetermined Criteria to Share Revenue Immediately
188.8.131.52 Entire History of an Aircraft Can be Traced and Tracked Using Blockchain
8.7 Supply Chain Management
8.7.1 Blockchain Technology is a Viable Option to Streamline the Procurement Process Through the use of Smart Contracts
8.7.2 Parts Tracking
184.108.40.206 Blockchain-Based Supply Chain Solutions Could Efficiently Track and Trace the Movement, Modification, and Maintenance of Components
8.7.3 Parts Health Monitoring
220.127.116.11 Users Will be Able to Accurately Trace the Components Journey From the Beginning
8.7.4 Inventory Management
18.104.22.168 Procurement Strategy Can be Formulated By Analyzing Historical Data and Real-Time Health Conditions Using Blockchain
8.8 Aircraft Maintenance
8.8.1 Blockchain Can be Used to Track the Fitness of Individual Parts of the Aircraft By Monitoring Data Such as Date of Manufacture, and Depreciation
9 Aviation Blockchain Market, By Deployment
9.2.1 Aviation-Based Applications of Public Blockchain is Mainly Deployed for Tokenization and Cryptocurrency
9.3.1 Private Blockchain is Primarily Deployed for Record-Keeping and Secured Applications
9.4.1 Hybrid Blockchain is a Combination of Public and Private Blockchains
10 Aviation Blockchain Market, By Function
10.2.1 Components Details Such as Manufacturing Date, Repairs, Ownership, and Maintenance Can be Stored on Blockchain, Thus Enabling Tracking the History of Components
10.3.1 Blockchain Can Facilitate a Range of Transactions, Including Billing Among Airlines, Between Travel Agents and Airlines, Determining Loyalty Points Settlements and Travel Insurance
11 Aviation Blockchain Market, By Vertical
11.2 Civil & Commercial Aviation
11.3 Military Aviation
11.3.1 Location and Availability of Parts
22.214.171.124 Authenticity of Parts and Supply
126.96.36.199 Smart Contracts and Payments
12 Regional Analysis
12.2 North America
12.5 Rest of the World
13 Competitive Landscape
13.2 Competitive Leadership Mapping (Overall Market)
13.2.1 Visionary Leaders
13.2.3 Dynamic Differentiators
13.2.4 Emerging Companies
13.3 Competitive Scenario
13.3.1 Contracts& Agreements
13.3.2 New Product Launches
13.3.3 Collaborations & Partnerships
13.3.4 Other Strategies
14 Company Profiles
14.1 14bis Supply Tracking (Safeflights Inc.)
14.2 Aeron Labs
14.3 Avinoc Ltd.
14.4 Credits.Com Pte. Ltd.
14.8 Insolar Technologies
14.9 LeewayHertz Technologies
14.10 Microsoft Corporation
14.11 Moog Inc.
14.13 Parts Pedigree
14.14 Quillhash Technologies Pvt. Ltd.
14.17 Sweetbridge Inc.
14.18 Volantio Inc.
14.19 Winding Tree
14.20 Zamna Technologies Limited
For more information about this report visit https://www.researchandmarkets.com/r/fdqxs9
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