Aviation Blockchain Market Set to Grow at the Fastest Rate till 2025

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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", 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. Browse 109 market data Tables and 32
Figures spread through 166 Pages and in- depth
TOC on "Aviation Blockchain Market - Global
Forecast to 2025" Download PDF Brochure
_at_ https//www.marketsandmarkets.com/requestsampleN
ew.asp?id175218087 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. Asia Pacific is
expected to lead the aviation blockchain market
during the forecast period.
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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). Key Market Players 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. Ask for Sample Report
_at_ https//www.marketsandmarkets.com/requestsampleN
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