While the global air traffic continues to grow uncontrollably, management of this critical mode of transportation becomes important. Air transport has a governing influence on development of businesses and economies across the globe, which is why bolstering the maintenance, repair and operations (MRO) of air-borne transportation is necessary. For achieving this, adoption of advanced technologies is being widely exercised in the global market for air transport MRO.
Recently, Air France KLM, a key player in the global air transportation sector, announced its plans to adopt blockchain technology for improving the existing maintenance and repair systems. According to the reports, Air France KLM is eyeing at employing blockchain technologies to better the tracking of MROs. By using blockchain, the company will be dubbing itself as a premium airline service provider, exhibiting its new capabilities in maintaining in-service aircrafts in blue-ribbon conditions.
Air Transport MRO and BlockChain Benefits
In a recent webinar, the air transport firm collaborated with Microsoft and discussed the benefits of implementing blockchain software in maintenance, repair and overhaul operations of aircrafts. Indicative of a technology partnership, Air France KLM participated the webinar to assimilate the advantages of blockchain solutions being developed for boosting MRO system efficiency for Ramco Aviation, another key participant in the global air transport MRO market. According to the company’s innovation director, a team of experts in blockchain technology are studying the case of implementing blockchain solutions for enhancement of MRO workflows in air transport businesses.
The company also highlighted key advantaged of blockchain technology in augmentation of air transport MRO systems, which include improved traceability, resilience, organized integration, and enabling disintermediation of the aviation supply chain. Apart from this, the ability of blockchain technologies in air transportation industry involves advent of new service models, improvement in ticketing services, and loyalty point management for employees. Enhancement of passenger security, digitization of data, management of power distribution operations, and real-time storage of hypercritical and time-sensitive data is also observed to be key outcomes of adopting blockchain technologies in air transport MROs.
Global Outlook: Air Transport MRO Market
An ongoing research on the global market for air transport MROs reveals that technologies such as blockchain can play an instrumental role in rendering efficiency across all air transportation operations. The study, developed by Future Market Insights, also revealed that continuous technological innovations and partnerships will characterize the expansion of global air transport MRO market in the foreseeable future. A majority of companies partaking in the air transport MRO business are anticipated to be based in the US and parts of Europe. The study is also focusing on analysing factors driving the expansion of air transport MRO market in North America and other developed regions. Better service retention has been addressed as the primary criterion indicating the efficiency of air transport MRO service in developed and developing air transportation marketplaces.
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