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

Drivers

Demand for Transparency and Traceability

• 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.

Operational and Cost Benefits

• Use of aviation blockchain will help airlines and airports enhance their operations, which in turn will improve their profits and reduce operational costs. Aviation industry can improve its overall efficiency by deploying different aviation blockchain solutions and boost market development along the way.

Restraints

Standardization Issues

• Not all aviation blockchain platforms can be standardized as different aspects of the aviation industry have different requirements and compliance standards. Therefore, creation of a standard aviation blockchain solution is not possible, which could slow down aviation blockchain market growth potential.

Regulatory Compliance

• Regulatory bodies such as FAA (Federal Aviation Administration) regulations, EASA (European Union Aviation Safety Agency) standards, and ICAO (International Civil Aviation Organization) have different mandates and aviation blockchain solutions will have to comply with them all. Creating such a solution that is compliant with all these norms is slated to be a major challenge for market players going forward.