Aviation Blockchain Market is anticipated to grow at a high CAGR from 2020 to 2030
Market Industry Reports (MIR) has published a new report titled “Aviation Blockchain Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030.” According to the report, the Aviation Blockchain Market is anticipated to grow at a high CAGR from 2020 to 2030.
The increased traceability, transparency, and improved passenger experience are among several key factors driving the growth of the aviation blockchain market. The growth of the market can be further attributed to the ability to facilitate efficient and smoother operations that lead to cost savings and complexities. Due to the presence of complex & bulky supply chain management in the aviation industry, blockchain technology can help to uphold a transparent and well-connected supply chain. This is one of the primary factors for the utilization of blockchain technology in the aviation sector that is driving the market share over the forecasted timeframe.
The industry players are working closely with airport authorities to integrate blockchain technology and enable industry participants to adopt upcoming technologies in the aerospace and defense sector. For instance, in October 2019, Insolar publicized that it will partner with Oracle, Microsoft, and National Innovation Agencies of the UK, Switzerland, and Germany. The partnership with Oracle and Microsoft is for the incorporation of the Insolar platform with their respective cloud services – Oracle Cloud and Azure. With this partnership, the Insolar platform expanded its presence in Europe.
Presently, the defense aviation blockchain growth is slower as compared to the aerospace segment. The growth can be attributed to massive investments in research & development for tracing defense-related shipments & contracts, protection against cyber warfare, efficient battlefield messaging services, and creating secure government portals, among other applications.
Browse key industry insights spread across 160 pages with market data tables & figures & charts from the report, Aviation Blockchain Market By Application (Airports, Airlines, MRO Service Providers, and Manufacturers), By Use Cases (Cargo & Baggage Tracking, Passenger Identity Management, Flight & Crew Data Management, Aircraft Maintenance, Inventory Management, Aircraft Refuelling, and E-Ticketing), By Sector (Commercial Aviation and Military Aviation) – Global Analysis & Forecast 2020-2030. in detail along with the table of contents:https://www.marketindustryreports.com/aviation-blockchain-market/391
The North America aviation blockchain market is anticipated to showcase the highest CAGR during the forecast period. The growth of the market in this region can be attributed to large investments in the U.S. and the presence of major aerospace & defense players and major airports in the region. Furthermore, the increasing adoption of emerging technologies by airports & airline carriers is significantly impacting the growth of the market. For instance, in November 2018, Boeing announced a partnership with SparkCognition and plans to launch SkyGrid that will enable the future of urban aerial mobility. The partnership also plans to build artificial intelligence and blockchain-powered airspace management platforms.
Some of the prominent players in the Aviation Blockchain market include Accenture PLC, IBM, Microsoft Corporation, Zamna Technologies, Insolar Technologies, Loyyal Corporation, Aeron Labs, Winding Tree, Filament, Infosys, LeewayHertz Technologies, and Moog Inc, among others.
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