Aviation Blockchain Market Size to Reach USD 1.15 Billion with a CAGR of 11.1% by 2030

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 $0.42 billion in 2020, and is projected to reach $1.15 billion by 2030, registering a CAGR of 11.1%.

𝙂𝙚𝙩 𝙞𝙣𝙨𝙞𝙙𝙚 𝙎𝙘𝙤𝙤𝙥 𝙤𝙛 𝙩𝙝𝙚 𝙧𝙚𝙥𝙤𝙧𝙩, 𝙧𝙚𝙦𝙪𝙚𝙨𝙩 𝙛𝙤𝙧 𝙨𝙖𝙢𝙥𝙡𝙚:- https://www.alliedmarketresearch.com/request-sample/6640

Asia-Pacific was the highest revenue contributor, accounting for $0.14 billion in 2020, and is estimated to reach $0.43 billion by 2030, with a CAGR of 12.6%.

The growth of the global aviation blockchain market is driven by surge in demand for AI based recording of the movement transactions and tracking of the aviation assets. Growing adoption of the air transportation creates complexity of the data and activities which create a requirement for the smart technology to ensure and update the aviation transactions. Growing requirement for improved safety, tracking and transparency for aviation logs is the key factor support the growth for aviation blockchain market over the forecast period.

In 2020, 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 end of the forecast period.

In addition, market participants are entering 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 the year 2020 owing to growing adoption of the air transportation in the region. China, India, Japan, the U.S. and Germany are expected to witness as emerging countries in the global aviation blockchain market, owing to increase in inclination toward 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 limited number of players holding majority of share.

𝙈𝙖𝙠𝙚 𝙖 𝙋𝙪𝙧𝙘𝙝𝙖𝙨𝙚 𝙄𝙣𝙦𝙪𝙞𝙧𝙮:- https://www.alliedmarketresearch.com/purchase-enquiry/6640

The spread of the COVID-19 pandemic has negatively impacted the global aviation blockchain market. The demand of aviation blockchain is directly associated with adoption of the smart technologies in airline activities and changing aviation industry outlook across the globe. The spread of the COVID-19 pandemic has negatively impacted the global aviation blockchain market, owing to commute restrictions, and is expected to weaken the financial performance of the market players in 2020.

𝗔𝗻𝗮𝗹𝘆𝘀𝘁 𝗥𝗲𝘃𝗶𝗲𝘄

By application, the passenger identity management segment dominated the global market in 2020 in terms of revenue. By end use, the airlines segment is expected to lead the market growth during the forecast period. Depending on function, transactions segment incurs a higher share. Asia-Pacific was the highest revenue contributor in 2020, and it is anticipated to lead the market growth by 2030.

In addition, market participants are entering 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 the year 2020 owing to growing adoption of the air transportation in the region. China, India, Japan, the U.S. and Germany are expected to witness as emerging countries in the global aviation blockchain market, owing to increase in inclination toward 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 limited number of players holding majority of share.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐚𝐭 - https://www.alliedmarketresearch.com/request-for-customization/6640

𝗧𝗵𝗲 𝗞𝗲𝘆 𝗣𝗹𝗮𝘆𝗲𝗿𝘀

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.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐎𝐧 𝐀𝐞𝐫𝐨𝐬𝐩𝐚𝐜𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 :

Aerospace Cyber Security Market : https://www.alliedmarketresearch.com/aerospace-cyber-security-market-A09068

Aerospace Artificial Intelligence Market : https://www.alliedmarketresearch.com/aerospace-artificial-intelligence-market-A11337

Aerospace Bearings Market : https://www.alliedmarketresearch.com/aerospace-bearings-market-A14120

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Allied Market Research (AMR) is a full-service market research and business-consulting wing 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 targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

This release was published on openPR.