The aviation industry is growing at a pace like never before, with the International Air Transport Association (IATA) expecting passenger numbers to reach 7.2 billion per year by 2035, nearly doubling the 3.8 billion air travelers in 2016. As a result, we will see the number of aircraft double, with a new, younger, more fuel-efficient and environmentally-friendly fleet coming into operation over the next two decades. With over 1,000 aircraft currently traded each year, and this number set to grow further, now is the time for innovation in the aviation leasing space.
This industry report looks at how blockchain technology will increase security and reduce operational costs in the aviation leasing industry, specifically in three key areas:
Letters of credit
Digitizing aircraft records and parts tracking
Registry and ownership of aircraft
The report also highlights real-world case studies, from komgo’s commodity trade finance network to Treum’s supply chain management platform, to showcase these blockchain solutions and products in practice.