Aircraft Maintenance, Repair Industry Turns To Blockchain
February 5, 2020
Aircraft Maintenance, Repair Industry Turns To Blockchain
February 5, 2020

The aircraft maintenance, repair, and overhaul (MRO) industry handling 25 billion parts a year is turning to blockchain to tackle its difficulties.

On Dec. 4 Verdict magazine reported that the formation of MRO Blockchain Alliance includes leading industry members such as:

  • HAECO Group
  • Bolloré Logistics
  • Cathay Pacific
  • FLYdocs
  • SITA

The report points to research by PwC that suggests blockchain tech could save MRO businesses roughly 5% of their overall costs equating to $3.5 billion globally boosting revenue in the aerospace industry by up to $40 billion (4%).

Verdict reports that the alliance will look into issuing aircraft parts with digital passports: these serve to prove a part’s authenticity and provide a “digital thread” for its transport and custody history. 

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Matthys Serfontein, president of air travel solutions for SITA said:

“In an industry as interconnected as ours, the ability to share and record common data in a secure way without giving up control of that data is fundamental to driving new efficiencies in air travel. This is particularly true for the MRO sector.”

A representative for SITA said that the firm had identified MRO as being just one of five potential areas in aviation where blockchain could play a key role. The others included identity management, chain of custody (for luggage, cargo, and aircraft), and flight operations.


Source: Cointelegraph.com


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