CHICAGO, — According to the new market research report “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”, published by MarketsandMarkets™, the Aviation Blockchain Market size is expected to reach USD 1,394 million by 2025 from USD 421 million in 2019, at a CAGR of 22.1% from 2019 to 2025.
Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=175218087
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.
By end market, the airports segment is projected to grow at the highest CAGR during the forecast period.
Increasing demand for air travel around the world has given rise to air traffic, 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.
By application, the passenger identity management segment is projected to grow at the highest rate during the forecast period.
The passenger identity management segment is estimated to grow at the highest CAGR during the forecast period. The use of biometrics in the aviation industry for passenger processing offers opportunities to gather data for airlines and airports. Storing passenger information on blockchain for biometrics and ID tracking/management can allow airlines and airports to enhance their security. The majority of passengers carry a smartphone with them, which will easily enable them to plug in airline apps for baggage tracking, alerts, and request personalized services.
Browse in-depth TOC on “Aviation Blockchain Market”
109 – Tables
32 – Figures
166 – Pages
Enquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=175218087
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).
Some of the major players in the aviation blockchain market include 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). These players provide blockchain platforms and solutions to various aviation companies.
Please Explore Relevant Report:
Digital MRO Market by Technology (Predictive Maintenance, AR/VR, 3D Printing, Blockchain, Artificial Intelligence, Robotics, Big Data Analytics, Digital Twin, IOT), End User (MROs, Airlines, OEMs), Application, Region – Global Forecast to 2030
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
Email: [email protected]
We bring your Press Releases into the Blockchain!
TheBitcoinNews.com is here for you 24/7 to keep you informed on everything crypto. Like what we do? Tip us some BAT
Send Tip now!