Aviation Blockchain Market Size, Share, Growth Analysis, By Function(Record Keeping, and Transactions), By Application(Cargo and Baggage Tracking, Passenger Identity Management, Flight and Crew Data Management, Supply Chain Management), By End User(Airlines, Airports, and Others), By Region - Industry Forecast 2024-2031

Report ID: SQMIG20R2040 | Region: Global | Published Date: April, 2024
Pages: 203 | Tables: 91 | Figures: 72

Aviation Blockchain Market News

In April 2022, Block Aero Technologies Holdings Inc., a leading name in the aviation blockchain space, announced that it had received strategic investment from JALUX Inc. The companies intend to promote digital transformation in aviation space.

In May 2023, All Nippon Airways (ANA), the leading airline company in Japan, announced the launch of its new NFT marketplace. Loyalty points and rewards in the aviation industry offer immense scope for the growth of NFT marketplaces.

In August 2023, Google became one of many other companies to sign up for the sustainable aviation fuel program started by the collaborative effort of Shell Aviation and American Express Global Business Travel (Amex GBT). This is a new blockchain-enabled service.

Aviation Blockchain Market Report Snapshots

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Aviation Blockchain Market size was valued at USD 770 million in 2022 and is poised to grow from USD 940.56 million in 2023 to USD 4661.73 billion by 2031, growing at a CAGR of 22.15% in the forecast period (2024-2031).

Aviation blockchain market is fragmented in nature and this means it provides opportunities for new companies to enter the market and establish themselves. However, the massive business presence of leading companies could create challenges for new entrants in the market. Integration of advanced technologies to provide additional features could be a key trend that aviation blockchain companies can capitalize on across the forecast period and beyond. Aviation blockchain market players can capitalize on the growing acceptance and popularity of blockchain technology to maximize their revenue generation potential. 'INTERNATIONAL BUSINESS MACHINES (IBM) CORPORATION', 'INFOSYS LIMITED', 'Insolar Technologies', 'Filament', 'Moog Inc.', 'Safeflights Inc. (14bis Supply Tracking)', 'Winding Tree', 'Microsoft Corporation', 'Quillhash Technologies Pvt. Ltd,', 'Volantio Inc.', 'LeewayHertz', 'Sweetbridge Ltd.', 'Aeron Labs', 'Olistics', 'ZAMNA TECHNOLOGIES LIMITED', 'AVINOC Ltd. '

Deployment of aviation blockchain helps in maintaining a tamper-free record of aviation practices and improves the traceability of different aviation aspects, which fulfils the demand for enhance transparency and traceability thereby driving market growth as well.

North America accounts for a massive revenue share of the aviation blockchain market owing to the presence of key airline companies and aircraft manufacturers in this regio. Canada and the United States are estimated to be the leading countries for aviation blockchain providers in this region. Growing acceptance of blockchain solutions among the general populous of this region will also create new opportunities for aviation blockchain market players over the coming years. High number of air travelers in this region will also contribute to the as well as regional aviation blockchain market development going forward.

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