Market Research Future Insights
Global Aviation Blockchain Market industry is expected to register a CAGR of 21.8 % during the forecast period 2022 – 2030 hold a value of over USD 16.861 Billion 2030
The aviation blockchain market refers to the use of blockchain technology in the aviation industry for various applications, such as aircraft maintenance, supply chain management, passenger identity verification, and cargo tracking. Blockchain technology can help to improve efficiency, reduce costs, and increase transparency and security in these areas. The COVID-19 pandemic has had a significant impact on the aviation industry, with many airlines and airports facing financial challenges due to travel restrictions and reduced demand. However, blockchain technology has the potential to help the industry recover by enabling more efficient and secure operations. Drivers include Increased efficiency, Improved security, Simplified payment processes better supply chain management. Restraints include Lack of regulatory clarity, High initial costs, Integration challenges.
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Some of aviation blockchain market key players are Aeron Labs, AVINOC Ltd, IBM, Infosys, Insolar Technologies, Microsoft Corporation, Moog Inc., Olistics, Quillhash Technologies Pvt. Ltd, Skybuys, and Sweetbridge, Inc.
The aviation blockchain market is segmented based on end market, application, vertical, and region. On the basis of end market, the market is classified as Airlines, Airports, MRO and Manufacturers. Based on application, the market is segmented as Cargo & Baggage Tracking, Flight & Crew Data Management, Passenger Identity Management, Supply Chain Management, Smart Contracts, and Aircraft Maintenance. Based on verticals, the market is segmented based on Civil & Commercial and Military.
North America is expected to dominate the aviation blockchain market, owing to the presence of major players in the region, such as IBM and Microsoft. Europe is expected to be a major market for aviation blockchain, owing to the increasing adoption of blockchain technology in the region. In Asia Pacific, China, in particular, is expected to be a major market for aviation blockchain, owing to the growing adoption of blockchain technology in the country. The Middle East and Africa region is expected to witness significant growth in the aviation blockchain market, owing to the increasing investments in the aviation industry in the region. In Latin America, Brazil is expected to be a major market for aviation blockchain in the region.
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