Blockchain and IoT Strategy and Use Cases – Aviation

The aviation industry requires a complex series of interactions between many different entities providing products and services.  Each entity is governed by local, federal and global governments and authorities.  As a result, the inability of the industry to define a single source of truth for any product or service may add as much as 35% to the cost of air travel. This is especially troublesome for products and services that are flight safety focused.  The industry will be more severely challenged in the future because of the following:

  1. Increased government regulations
  2. 50% more aircraft are expected to be operational by 2026
  3. The requirement for stricter maintenance Documentation. It is estimated that 90% of maintenance records are on paper and not systematized
  4. Electronic-AMRs (EAMR) records are stored in multiple databases causing inefficiencies, time-consuming retrieval process and lack of transparency
  5. Tighter border security requiring better baggage and passenger control
  6. Higher passenger volumes requiring more responsive systems and processes
  7. Decreased revenue recognition cycles
  8. Reduced cost of travel
  9. Higher service levels

Blockchain and IoT provide a solution to the Aerospace and Aviation Industries that allow them to deal with the above issues by identifying an immutable single source of truth that is readily accessible by everyone involved in the Aviation Supply Chain. Blockchain use cases such as the following will have a significant impact on addressing the challenges identified above.

Flight Safety

  • The life cycle of flight safety parts
  • Maintenance logs
  • Part validation (non-counterfeit)
  • Parts tracking

Revenue Recognition

  • Interlining and revenue recognition
  • Airport slot management
  • Ticketing
  • Engine and parts leasing through smart contracts

Efficiency

  • Location of equipment such as tow bars, tow trucks, baggage trailers, service vehicles, etc.
  • Pilot recruiting
  • Exchanging real-time flight information to avoid conflicts among airports and partner airlines

Passenger Related

  • The full chain of custody and provenance of food – Farm to Passenger
  • Customer loyalty programs
  • Baggage tracking for connecting flights and airports

Validation

  • Immutable pilot logs
  • Security and Identity verification

These use cases are being worked on or developed across the entire industry. When making decisions about Blockchain, it is important to understand the maturity of the technology and how:

  1. it will grow in importance
  2. it applies to your company and your industry
  3. to gain a full understanding of the transformational potential Blockchain and IoT technologies to your business and supply chain
  4. how the leadership team can carefully plan their approach to the identification and integration of Blockchain and IoT strategies

Group50, subject matter experts in productivity, cost takeout, supply chains and supporting technologies,  has developed and integrated Blockchain and IoT plug and play solution called Scioebc™ .  We have developed a 7-step implementation process that includes 4 workshops which are focused on guiding senior leadership through the planning and integration of these transformational technologies.

To find out more about how you can apply Blockchain and IoT to the Aviation Industry, call Group50 at (909) 949-9083, drop us a line at Blockchain@group50.com or request more information here

askexpertbtn
Quick Contact

Please leave this field empty.

Ask Expert

Please leave this field empty.