Global Aviation Blockchain Market

Global Aviation Blockchain Market by Deployment (Public, Private and Hybrid), by Function (Record-Keeping and Transactions), By Application (Smart Contracts, Passenger Identity Management, Frequent Flyer Programs, Supply Chain Management, Aircraft Maintenance, and Cargo & Baggage Tracking), By End User (Airports, Airlines, MRO, Manufacturers, and Lessors), By Vertical (Civil & Commercial and Military), and By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

Global Aviation Blockchain Market Overview:

Blockchain technology, known as the Internet Second Information Revolution, has used in many industries around the world. With unique technical characteristics-decentralization, consensus mechanism, full-node real-time data update, data consistency, data security sharing, etc.-blockchain is undergoing a new round of efficiency improvement and technological empowerment in many industries. Blockchain involves maintenance, security, reservations, luggage, flight delays, flight cancellations, and passenger logistics. Blockchain may proliferate in the following areas, such as provide e-ticket options, passenger information, flight cancellation, operating conditions, and aircraft maintenance inspections.

Global Aviation Blockchain Market Insights

The global aviation blockchain market size was valued at USD 398.37 Million in 2019 and projected to reach USD 1744.82 Million by 2027, registering a CAGR of 17.43%.during the forecast period 2020-2027. The major factors attributed are the rise in transparency, traceability, cost savings, and improved passenger experience. Additionally, the growing adoption of blockchain technology by airports and airlines in a developed and developing nation are projected to drive the growth of the global aviation blockchain market in the upcoming periods. Moreover, government initiatives digitalize business processes have spurred the advancements and adoption of blockchain technology in the aviation industry.

Furthermore, the growing application of blockchain in the aerospace sector to obtain a transparent and well-connected supply chain is further triggering the global aviation blockchain market growth. Due to the uniqueness of user identity information, airlines can achieve real-time online sales of alternate seats based on the bound blockchain account information. The combination of the authentication capabilities of authoritative third-party organizations and the unique identity of blockchain users can assist airports in the rapid verification of passenger identities, thereby simplifying many processes.

Growth Driver

Blockchain increased transparency and traceability

The aviation industry is perfectly matched with blockchain technology. Multiple participants rely on instant, coherent, consistent, and accurate data. The blockchain can not only formulate and implement plans but also be used to share various aspects such as traveler and operational information. Blockchain technology can solve the problem such as inconsistency in communication between airlines, through its transparent distributed ledger, which is both permanent and secure. Airlines can use blockchain technology to manage large amounts of data, such as flights, luggage, passengers, weather, etc. They can use smart contracts to track maintenance needs and improve ticketing services.

Blockchain reduced costs and transactional complexities

Passengers can use blockchain to manage loyalty points, which helps to coordinate their flights and thereby cut costs. Both airlines and travelers can use blockchain services to integrate airline touchpoints, obtain refunds, and minimize transaction costs.

Deployment Type Segmental Analysis

Based on the deployment type, the global aviation blockchain market classified into Public, Private, and Hybrid. The Hybrid segment will witness significant growth in the forecast period. It is primarily attributed to the hybrid characteristics of both private and public blockchain, and it provides transparent solutions, and, at the same time, information is also secured.

The public will be the fastest-growing segment in the estimated period due to the growing adoption of public blockchain through which any participant of the network can access the information stored.

Function Segmental Analysis

Based on function, the global aviation blockchain market bifurcates into Record-Keeping and Transactions. The record-keeping segment held a lucrative share in 2019 and projected to dominate the global aviation blockchain market by 2027. It is due to blockchain help in record data such as flight events, operating conditions, and aircraft maintenance inspections. Additionally, blockchain provides real-time records of repairs, purchases, construction, and maintenance inspections.

The transactions segment will grow at a significant rate in the forecast period. It is owing to blockchain provide smooth transaction of contract ticketing, and complete the refund once the ticket contract does not meet the conditions.

Application Segmental Analysis

Based on application, the global aviation blockchain market segregated into smart contracts, passenger identity management, frequent flyer programs, supply chain management, aircraft maintenance, and cargo & baggage tracking. The passenger identity management segment estimated to lead the market by 2027 due to the growing use of biometrics in the aviation industry to gather passengers’ data for airlines and airports.

The supply chain management segment will grow with a significant rate during the forecast period owing to blockchain help in enabling end-to-end component lifecycle visibility with the reduction of turnaround time and cost savings.

End-User Segmental Analysis

Based on end-user, the global aviation blockchain market categorized into Airports, Airlines, MRO, Manufacturers, and Lessors. The airport segment held for a significant market share in 2019 and will witness to gain maximum market revenue by 2027. It is attributable to the rising passenger traffic, and the growing number of inbound and outbound flights the blockchain provide support the airports to increase the efficiency and pace of their operations,

Airlines segment will grow with a lucrative rate during the forecast periods due to the blockchain help airlines through real-time information that includes passenger data, sales data, and cargo & baggage information.

Vertical Segmental Analysis

Based on the vertical, the global aviation blockchain market bifurcated into civil & commercial and military. The civil & commercial segment held higher market potential in 2019. It is attributed to the major players using blockchain to get a systematic record of flight & components and manages the maintenance records to access the airworthiness of the aircraft.

The military segment will grow with a lucrative rate during the analysis period due to blockchain used in the military to trace defense-related contracts and shipments with the reduction in operational complexities.

Region Segmental Analysis

Based on geography, the global aviation blockchain market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America estimated to occupy the lion’s share in the aviation blockchain market by 2027. It is owing to the presence of key market players, coupled with the growing adoption of blockchain technology by airlines, airports, and MRO service providers.

The Asia Pacific captured a prominent share of the aviation blockchain market in 2019 and projected to remain dominant by 2027. It is due to the huge surge in airline using passenger in these regions, along with airports in countries such as China, India, Singapore, Australia, Malaysia have implemented blockchain into their operations.

Competitor Analysis

Companies such as Microsoft Corporation, IBM, Zamna Technologies, Aeron Labs, Winding Tree, Volantio Inc, Filament, Accenture PLC, Infosys, Insolar Technologies, Leewayhertz Technologies, and Moog Inc. are the key players in the global aviation blockchain market.

Key Stakeholders

  • Market research and consulting firms
  • Industry associations
  • Global Aviation Blockchain service providers
  • Research organizations and consulting companies
  • Organizations, associations, and alliances related to aviation blockchain
  • Regulatory bodies

The objective of the Research

  • Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
  • Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
  • Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
  • Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
  • The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.

Market Modelling

By Deployment

  • Public
  • Private
  • Hybrid

By Function

  • Record-Keeping
  • Transactions

By Application

  • Smart Contracts
  • Passenger Identity Management
  • Frequent Flyer Programs
  • Supply Chain Management
  • Aircraft Maintenance
  • Cargo & Baggage Tracking

By End User

  • Airports
  • Airlines
  • MRO
  • Manufacturers
  • Lessor

By Vertical

  • Civil & Commercial
  • Military

By Region

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

Global Aviation Blockchain Market

Report Content

  1. Research Strategic Development
    • Market Modelling
    • Product Analysis
    • Market Trend and Economic Factors Analysis
    • Market Segmental Analysis
    • Geographical Mapping
    • Country Wise Segregation
  2. Research Methodology
    • Identification of Target Market
    • Data Acquisition
    • Refining of Data/ Data Transformations
    • Data Validation through Primary Techniques
    • Exploratory Data Analysis
    • Graphical Techniques/Analysis
    • Quantitative Techniques/Analysis
    • Visual Result/Presentation
  3. Executive Summary
  4. Market Insights
    • Economic Factor Analysis
      • Drivers
      • Trends
      • Opportunities
      • Challenges
    • Technological Landscape
    • Competitors & Product Analysis
    • Regulatory Framework
    • Company market share analysis, 2019
    • Porter’s Five forces analysis
    • New Investment Analysis
    • PESTEL Analysis
  5. Global Aviation Blockchain Market Overview
    • Market Size & Forecast, 2016-2027
      • Demand
        • By Value (USD Million)
      • Market Share & Forecast, 2016-2027
        • By Deployment
          • Public
          • Private
          • Hybrid
        • By Function
          • Record-Keeping
          • Transactions
        • By Application
          • Smart Contracts
          • Passenger Identity Management
          • Frequent Flyer Programs
          • Supply Chain Management
          • Aircraft Maintenance
          • Cargo & Baggage Tracking
          • Others
        • By End User
          • Airports
          • Airlines
          • MRO
          • Manufacturers
          • Lessor
        • By Vertical
          • Civil & Commercial
          • Military
        • By Region
          • North America
          • Europe
          • Asia Pacific
          • South America
          • Middle East & Africa
  1. North America Aviation Blockchain Market Overview
    • North America Aviation Blockchain Market Size & Forecast, 2016-2027
      • Demand
        • By Value (USD Million)
      • North America Aviation Blockchain Market Share & Forecast, 2016-2027
        • By Deployment
          • Public
          • Private
          • Hybrid
        • By Function
          • Record-Keeping
          • Transactions
        • By Application
          • Smart Contracts
          • Passenger Identity Management
          • Frequent Flyer Programs
          • Supply Chain Management
          • Aircraft Maintenance
          • Cargo & Baggage Tracking
          • Others
        • By End User
          • Airports
          • Airlines
          • MRO
          • Manufacturers
          • Lessor
        • By Vertical
          • Civil & Commercial
          • Military
        • By Country
          • US
          • Canada
          • Mexico
        • Company Market Share (Top 3-5)
        • Economic Impact Study on North America Aviation Blockchain Market
  1. Europe Aviation Blockchain Market Overview
    • Europe Aviation Blockchain Market Size & Forecast, 2016-2027
      • Demand
        • By Value (USD Million)
      • Europe Aviation Blockchain Market Share & Forecast, 2016-2027
        • By Deployment
          • Public
          • Private
          • Hybrid
        • By Function
          • Record-Keeping
          • Transactions
        • By Application
          • Smart Contracts
          • Passenger Identity Management
          • Frequent Flyer Programs
          • Supply Chain Management
          • Aircraft Maintenance
          • Cargo & Baggage Tracking
          • Others
        • By End User
          • Airports
          • Airlines
          • MRO
          • Manufacturers
          • Lessor
        • By Vertical
          • Civil & Commercial
          • Military
        • By Country
          • Germany
          • UK
          • France
          • Italy
          • Rest of Europe
        • Company Market Share (Top 3-5)
        • Economic Impact Study on Europe Aviation Blockchain Market
  1. Asia Pacific Aviation Blockchain Market Overview
    • Asia Pacific Aviation Blockchain Market Size & Forecast, 2016-2027
      • Demand
        • By Value (USD Million)
      • Asia Pacific Aviation Blockchain Market Share & Forecast, 2016-2027
        • By Deployment
          • Public
          • Private
          • Hybrid
        • By Function
          • Record-Keeping
          • Transactions
        • By Application
          • Smart Contracts
          • Passenger Identity Management
          • Frequent Flyer Programs
          • Supply Chain Management
          • Aircraft Maintenance
          • Cargo & Baggage Tracking
          • Others
        • By End User
          • Airports
          • Airlines
          • MRO
          • Manufacturers
          • Lessor
        • By Vertical
          • Civil & Commercial
          • Military
        • By Country
          • China
          • India
          • Japan
          • Australia
          • Rest of Asia Pacific
        • Company Market Share (Top 3-5)
        • Economic Impact Study on Asia Pacific Aviation Blockchain Market
  1. South America Aviation Blockchain Market Overview
    • South America Aviation Blockchain Market Size & Forecast, 2016-2027
      • Demand
        • By Value (USD Million)
      • South America Aviation Blockchain Market Share & Forecast, 2016-2027
        • By Deployment
          • Public
          • Private
          • Hybrid
        • By Function
          • Record-Keeping
          • Transactions
        • By Application
          • Smart Contracts
          • Passenger Identity Management
          • Frequent Flyer Programs
          • Supply Chain Management
          • Aircraft Maintenance
          • Cargo & Baggage Tracking
          • Others
        • By End User
          • Airports
          • Airlines
          • MRO
          • Manufacturers
          • Lessor
        • By Vertical
          • Civil & Commercial
          • Military
        • By Country
          • Brazil
          • Argentina
          • Rest of South America
        • Company Market Share (Top 3-5)
        • Economic Impact Study on South America Aviation Blockchain Market
  1. Middle East & Africa Aviation Blockchain Market Overview
    • Middle East & Africa Aviation Blockchain Market Size & Forecast, 2016-2027
      • Demand
        • By Value (USD Million)
      • Middle East & Africa Aviation Blockchain Market Share & Forecast, 2016-2027
        • By Deployment
          • Public
          • Private
          • Hybrid
        • By Function
          • Record-Keeping
          • Transactions
        • By Application
          • Smart Contracts
          • Passenger Identity Management
          • Frequent Flyer Programs
          • Supply Chain Management
          • Aircraft Maintenance
          • Cargo & Baggage Tracking
          • Others
        • By End User
          • Airports
          • Airlines
          • MRO
          • Manufacturers
          • Lessor
        • By Vertical
          • Civil & Commercial
          • Military
        • By Country
          • Saudi Arabia
          • UAE
          • South Africa
          • Rest of Middle East & Africa
        • Company Market Share (Top 3-5)
        • Economic Impact Study on Middle East & Africa Aviation Blockchain Market
  1. Competitor Analysis
    • Company Description
    • Financial Analysis
    • Key Products
    • Key Management Personnel
    • Contact Address
    • SWOT Analysis
    • Company Profile
      • Microsoft Corporation
      • IBM
      • Zamna Technologies
      • Aeron Labs
      • Winding Tree
      • Volantio Inc
      • Filament
      • Accenture PLC
      • Infosys
      • Insolar Technologies
      • Leewayhertz Technologies
      • Moog Inc
      • Other Prominent Players

 

 

 

 

 

 

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