Aviation Blockchain Market Growth, Share, Size by 2031

The aviation blockchain market is anticipated to expand at a CAGR of 18.1% from 2023 to 2031. Aviation blockchain's growth is driven by better transparency, traceability, and improved passenger experience.

Aviation Blockchain Market Analysis 

Blockchain is a new system-divided system that eliminates the dangers associated with information stored in the middle. In line with these lines, firms working in the aeronautics industry are eager to incorporate blockchain technology into their current activities in the store network. This comprises cutting-edge materials, a vast production network, and decades-old second-hand sales with active members.

Aviation Blockchain Industry Overview

Blockchain refers to a decentralized technology that helps to eliminate the dangers associated with centrally maintained data. The technology consists of a vast supply chain, a decades-long aftermarket with constantly changing participants, and sophisticated products.

 

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Aviation Blockchain Market: Strategic Insights

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Aviation Blockchain Market Drivers and Opportunities

Increased Demand For AI-Based Recording Of Movement Transactions And Tracking Of Aviation Assets to Drive the Aviation Blockchain Market

• The growing popularity of air transportation increases the complexity of data and activities, necessitating the use of smart technology to ensure and update aviation transactions.
• The growing demand for increased safety, monitoring, and transparency for aviation records is a major driver propelling the growth of the market throughout the forecast period.

Aviation Blockchain Market Report Segmentation Analysis

• Based on function, the market is segmented into record-keeping and transactions.
• The record-keeping segment is expected to hold a substantial aviation blockchain market share in 2023.

• Long-term aircraft stationing poses a significant challenge for airlines due to limited profit margins and potential operational losses. Accurate aircraft configuration and maintenance data can save costs and losses from downtime and unexpected repairs. These losses can be prevented by embracing blockchain technology.

Aviation Blockchain Market Share Analysis By Geography

The scope of the aviation blockchain market report is primarily divided into five regions - North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is experiencing rapid growth and is anticipated to hold a significant aviation blockchain market share. North America has the highest sophisticated technological adoption and infrastructure. The acceptance of technology by airlines and airports is a key driver driving growth in this region. Significant market participants and major airports primarily drive the North American aviation blockchain market.

Aviation Blockchain Market Regional Insights

The regional trends and factors influencing the Aviation Blockchain Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Aviation Blockchain Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Aviation Blockchain Market Report Scope

Aviation Blockchain Market Players Density: Understanding Its Impact on Business Dynamics

The Aviation Blockchain Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Aviation Blockchain Market are:

1. Aeron Labs
2. Avinoc Ltd.
3. Infosys Limited
4. Leewayhertz
5. Loyyal
6. Microsoft Corporation

Disclaimer: The companies listed above are not ranked in any particular order.

The "aviation blockchain market Analysis" was carried out based on card type, service provider, application, and geography. Based on the Function, the market is segmented into record-keeping and transactions. In terms of application, the market is segmented into smart contracts, supply chain management, aircraft maintenance, cargo and baggage tracking, and others. Based on end-users, the market is segmented into airports, airlines, MROs, manufacturers, and lessors. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Aviation blockchain market News and Recent Developments

Companies adopt inorganic and organic strategies such as mergers and acquisitions in the market. The aviation blockchain market forecast can help stakeholders plan their growth strategies. A few recent key market developments are listed below: 

• In October 2023, Yokogawa Electric Corporation announced it had become the first industrial automation customer headquartered in Asia to join Avelia1, a blockchain book-and-claim platform for sustainable aviation fuel (SAF). Launched in June 2022, Avelia was developed by Shell and Accenture, with support from the Energy Web Foundation, together with American Express Global Business Travel (Amex GBT). Avelia aims to aggregate global business demand for SAF to help increase SAF supply and support the aviation industry's progress towards net-zero emissions.

[Source: Yokogawa Electric Corporation, Company Website]

• In August 2021, Honeywell is addressing these issues by fully integrating aircraft record creation into its digital blockchain ledger. This gives Honeywell's customers an easy way to search and retrieve scattered data using a simple user interface, resulting in a degree of speed and efficiency never previously seen in the aerospace sector

 [Source: Honeywell, Company Website]

Aviation Blockchain Market Report Coverage & Deliverables

The market report on “Aviation Blockchain Market Size and Forecast (2021–2031)”, provides a detailed analysis of the market covering below areas-

• Market size & forecast at global, regional, and country- level for all the key market segments covered under the scope.
• Market dynamics such as drivers, restraints, and key opportunities.
• Key future trends.
• Detailed PEST & SWOT analysis
• Global and regional market analysis covering key market trends, key players, regulations, and recent market developments.
• Industry landscape and competition analysis covering market concentration, heat map analysis, key players, and recent developments.
• Detailed company profiles.