Aviation Blockchain Market Size, Share, Industry Trends and Forecast to 2030

Aviation Blockchain Market Size & CAGR in 2021

The global aviation blockchain market is anticipated to achieve a significant growth rate with a CAGR of 25% from 2021 to 2028. As a result, the market size is expected to reach USD 1.5 billion by 2028. The aviation blockchain market is witnessing rapid growth due to the increased adoption of blockchain technology in the aviation industry.

Impact of COVID-19 on the Aviation Blockchain Market

The aviation industry has been severely impacted by the COVID-19 pandemic, leading to a significant decline in air travel and disruption in supply chains. However, the adoption of blockchain technology in aviation has helped in ensuring transparency, security, and efficiency in various processes. Blockchain-enabled solutions have played a crucial role in streamlining operations and maintaining trust in the industry during these challenging times.

Aviation Blockchain Dynamics

The aviation blockchain market is driven by factors such as increasing focus on enhancing operational efficiency, rising demand for secure data management, and growing investments in blockchain technology. The industry is witnessing a shift towards digital transformation, and blockchain is emerging as a key technology for enabling secure and transparent transactions in aviation.

Segments and Related Analysis

By Application

- Passenger Identity Management

- Supply Chain Management

- Aircraft Maintenance

By End-User

- Airlines

- Airports

- MRO Service Providers

By Region Analysis

North America

- The North American region is expected to dominate the aviation blockchain market due to the presence of major technology players and the increasing focus on digitization in the aviation sector.

Europe

- Europe is anticipated to witness significant growth in the aviation blockchain market as countries like the UK, Germany, and France are investing heavily in blockchain technology for aviation applications.

Asia Pacific

- The Asia Pacific region is poised for rapid growth in the aviation blockchain market with the increasing adoption of blockchain solutions in countries like China, India, and Japan to enhance operational efficiency.

Key Market Players and Competitive Landscape

- IBM

- Microsoft

- Accenture

- Infosys

- Oracle

Recent Happenings in the Aviation Blockchain Market

- IBM announced a partnership with a leading airline to implement blockchain technology for enhancing passenger identity management.

- Microsoft launched a blockchain platform for airlines to improve supply chain management and track maintenance records securely.

- Accenture collaborated with an airport operator to deploy blockchain solutions for streamlining operations and ensuring data security.

- Infosys developed a blockchain-based application for MRO service providers to optimize maintenance processes and increase efficiency.

- Oracle introduced a blockchain solution for airports to automate passenger verification and enhance security measures.