Global Aviation Blockchain Market Size to Exceed USD 3,485.14 Million by 2033: Market Forecast Report

Global Aviation Blockchain Market Size to Exceed USD 3,485.14 Million by 2033 

According to a research report published by Spherical Insights & Consulting, the Global Aviation Blockchain Market Size Expected to Grow from USD  686.15 Million in 2023 to USD 3,485.14 Million by 2033, at a CAGR of 17.65% during the forecast period 2023-2033.  

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Aviation Blockchain Market Size, Share, and COVID-19 Impact Analysis, By Function (Record Keeping and Transactions), By Application (Cargo & Baggage Tracking, Passenger Identity Management, Flight & Crew Data Management, Supply Chain Management, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033  

Aviation parts and supplies can be tracked through the supply chain using a distributed ledger that is impenetrable and tamper-proof due to blockchain technology. By analyzing this blockchain data, AI makes it possible to optimize inventory control, do predictive maintenance, and comply with regulations. Furthermore, blockchain offers a safe, distributed framework for logging air traffic data, which AI systems then examine to improve security, minimize traffic congestion, and regulate airspace better. Additionally, the increased popularity of leisure travel is making summer traffic peaks more noticeable. For airlines, this change in demand is creating new difficulties that call for creative ways to handle the heightened demand. The need for air travel is rising, and airline operations optimization is a key driver of the aviation market's expansion. However, the variation in standards and regulatory norms among aviation fields is the reason for the absence of uniformity in aviation blockchain platforms.

The transactions segment is expected to hold a significant market share through the forecast period.                              

Based on the function, the global aviation blockchain market is categorized as record keeping and transactions. Among these, the transactions segment is expected to hold a significant market share through the forecast period. The ability of blockchain technology to improve transaction efficiency, security, and transparency makes the transactions segment the one with the highest growth potential. Future aviation operations are expected to be significantly shaped by the incorporation of blockchain technology as the sector continues to embrace digital transformation.

The cargo & baggage tracking segment is expected to grow at the fastest CAGR during the projected timeframe.       

The global aviation blockchain market is segmented by application into cargo & baggage tracking, passenger identity management, flight & crew data management, supply chain management, and others. Among these, the cargo & baggage tracking segment is expected to grow at the fastest CAGR during the projected timeframe. Transparency in supply chain management is made possible by aviation blockchain integration, which makes tracking freight and baggage simple. Applications for tracking cargo and baggage are increasingly utilizing blockchain technology, which is revolutionizing air freight management.

North America is projected to hold the largest share of the global aviation blockchain market over the projected timeframe.

North America is projected to hold the largest share of the global aviation blockchain market over the projected timeframe. The region's sizable aviation sector, quick adoption of new technologies, kind laws, and the presence of major market participants will all contribute to the region's projected rapid expansion in the years to come. In addition, with the substantial investments made by top tech firms and the evident need for creative solutions, the area is expected to continue to play a prominent role in the global aviation blockchain scene.

Europe is projected to grow at the fastest CAGR growth of the global aviation blockchain market during the forecast period. The necessity for secure data management, rising investment in blockchain technologies, and the opportunity to better safety and streamline operations in the heavily regulated aviation sector are all factors driving the region's anticipated rapid expansion in the years to come.

Company Profiling

Major vendors in the global aviation blockchain market are Infosys Limited, Moog Inc., Sweetbridge, Inc., Volantio Inc., Winding Tree, Safeflights Inc. (14bis Supply Tracking), Leewayhertz, Zamna Technologies Limited, International Business Machine Corporation, Aeron Labs, and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Key Market Development

• In May 2023, the top airline in Japan, All Nippon Airways (ANA), declared the opening of its new NFT marketplace. There is a lot of room for NFT marketplace expansion in the airline sector due to loyalty points and prizes.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global aviation blockchain market based on the below-mentioned segments: 

Global Aviation Blockchain Market, By Function

• Record Keeping
• Transactions

Global Aviation Blockchain Market, By Application

• Cargo & Baggage Tracking
• Passenger Identity Management
• Flight & Crew Data Management
• Supply Chain Management
• Others

Global Aviation Blockchain Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa