Aviation Blockchain Market Strategies of Major Companies and Emerging Trends by 2030
Aviation blockchain market to reach $1.15 billion by 2030; Supply chain management to grow at 13.3% CAGR; The airline’s end use is to exceed with a 12.1% CAGR.
PORTLAND, ORAGON, USA, September 20, 2022 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled “Aviation Blockchain Market by Application, End Use, and Function: Global Opportunity Analysis and Industry Forecast , 2021-2030”, the global aviation blockchain market was valued at USD 0.42 billion in 2020 and is projected to reach USD 1.15 billion by 2030, registering a CAGR of 11.1%. Asia-Pacific was the highest the revenue contributor, and accounted for $0.14 billion in 2020, and is projected to reach $0.43 billion by 2030, with a CAGR of 12.6%.
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The growth of the global aviation blockchain market is driven by an increase in demand for AI-based recording of movement transactions and tracking of aviation assets. Increasing use of air transport creates complexity in the data and activities that create a requirement for smart technology to secure and update the aviation transactions. Increasing demands for improved security, traceability and transparency of aviation logs is the key factor supporting the growth of the aviation blockchain market over the forecast period. In 2020, the aviation blockchain market for passenger identity management has witnessed leading market share. Cargo and baggage tracking is expected to witness rapid growth and dominate the market share by the end of the forecast period.
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In addition, market players enter into long-term agreements and contracts with airport operators, MRO organization to gain competitive advantage in the global market. Asia-Pacific dominates the aviation blockchain market in 2020 due to increasing use of air transportation in the region. China, India, Japan, USA, and Germany are expected to be witnessed as emerging countries in the global aviation blockchain market, due to increasing inclination towards safety and security transportation and adoption of AI-based technologies in the respective countries. The global aviation blockchain market is a fairly consolidated market with a limited number of players holding the majority of shares.
The spread of the COVID-19 pandemic has adversely affected the global aviation blockchain market. The demand for aviation blockchain is directly associated with the adoption of smart technologies in airline operations and changing aviation industry outlook worldwide. The spread of the COVID-19 pandemic has adversely affected the global aviation blockchain market due to commuter restrictions and is expected to dampen the financial performance of market players in 2020.
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Key findings of the study
By application, the supply chain management segment is expected to register significant growth during the forecast period.
By end-use, the airport segment is estimated to lead the global market in terms of market share by the end of the forecast period.
By function, the transaction segment is estimated to lead the global market, in terms of market share, by the end of the forecast period.
By region, Asia Pacific dominated the global aviation blockchain market in 2020 in terms of market share.
Key players operating in the global aviation blockchain market include Aeron Labs, International Business Machine Corporation, Infosys Limited, Leewayhertz, Moog Inc., Safeflights Inc. (14bis Supply Tracking), Sweetbridge, Inc., Volantio Inc., Winding Tree and Zamna Technologies Limited.
About us
Allied Market Research (AMR) is a full-service market research and business consulting firm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a single-minded approach to providing business insights and consulting to help its clients make strategic business decisions and achieve sustainable growth in their respective market domains.
Pawan Kumar, CEO of Allied Market Research, leads the organization towards delivering high-quality data and insights. We are in professional corporate relationships with various companies and this helps us to dig out market data which helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasts. Each and every piece of data presented in the reports published by us is extracted through primary interviews with top executives from leading companies in the concerned domain. Our secondary data sourcing methodology includes deep online and offline research and discussion with knowledgeable industry professionals and analysts.
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Allied Analytics LLP
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