March 29, 2023

Aircraft Maintenance Operators Create MRO Blockchain Alliance

Aircraft Maintenance and Repair (MRO) industry players form the MRO Blockchain Alliance to exploring the possibilities of the blockchain.

Verdict announced the formation of a newblockchain alliance in the aircraft maintenance, repair and overhaul industry - MRO Blockchain Alliance. The association included leading industry representatives, including the HAECO Group, Bolloré Logistics, Cathay Pacific, FLYdocs and SITA.

The idea of ​​creating a specialized alliance forExploring the blockchain opportunities for the industry was first announced in 2019 at an event organized by the Haeco Group, a large international aircraft maintenance and design company.

Since then, international companies - BolloréLogistics, Cathay Pacific, FLYdocs and SITA, as well as software development firm Ramco Systems, Willis Lease Finance Corporation and law firm Clyde & Co joined the initiative.

The publication mentions the PwC study,according to which blockchain technology will help enterprises of the MRO industry reduce costs by about 5%, which amounts to $ 3.5 billion a year, and increase revenues of the aerospace industry by 4% to $ 40 billion.

Verdict reports that the alliance will study the issueon the release of aircraft parts with digital passports: they will confirm the authenticity of the part and provide a “digital footprint” for the history of its transportation and storage. SITA's Aviation Solutions President Matthys Serfontein said:

“In an industry where companies are closely related“The ability to share and record shared data in a secure way, without giving up control of this data, is fundamental to improving air travel efficiency.”

Use of blockchain in the aviation industrybecoming more popular. Recently, the International Chamber of Commerce (ICC), in partnership with blockchain companies Perlin and AirCarbon, announced that it will work to reduce carbon emissions in commercial aviation.