Global Aviation MRO Logistics Market – Use of Blockchain to Promote Growth | Technavio

LONDON–()–Technavio’s latest market research report on the global
aviation MRO logistics market
provides an analysis of the most
important drivers expected to impact the market outlook from 2018-2022. Technavio
defines a prominent driver as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.

According to Technavio analysts, the global aviation MRO logistics
market will grow at a CAGR of nearly 5% during the forecast
period. The use of blockchain in the logistics industry is a major trend
in the market.

A blockchain is a digitalized and distributed transaction ledger. It has
identical copies being maintained on multiple computer systems, which
are controlled by different stakeholders. Essentially, a blockchain
system uses a chain of cryptographically protected records to expose the
details of transactions to all entities and distribute records across
the network of contributing nodes or computer systems. This eradicates
the need for a central authority to maintain records, making processes
more efficient and cost-effective. Logistics companies are implementing
the blockchain as a medium to improve efficiency and security in the
supply chain.

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In this report, Technavio highlights the growing aviation MRO industry
as one of the key factors driving the global aviation
MRO logistics
market:

Growing aviation MRO industry

The global aviation industry has been growing significantly since the
last few years. The return on investment capital (ROIC) grew by around
5% in 2016. The increasing ROIC can be correlated to the decrease in
fuel prices around the world. The jet fuel price decreased by nearly
half in 2016 when compared with that in 2014. The changing dynamics
created by falling fuel prices led to better growth prospects for the
aviation industry. Considering the profit margins, low-cost carriers are
significant beneficiaries of high-profit margins. The expanding aviation
industry will provide thrust for the global aviation MRO market during
the forecast period.

“The top contributing markets have been North America and APAC. They
accounted for nearly 30% of the total MRO for aircraft as of 2017. The
notable air travel in developing countries followed by the high need for
upgrading the existing aircraft will drive the demand for MRO in the
aviation industry. The growing demand for MRO in the aviation industry
will require effective logistics services to efficiently carry out MRO
of aircraft with less cost incurrence and better reliability,”
says
a senior analyst at Technavio for research on transportation
and distribution
.

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Global aviation MRO logistics market
segmentation

This market research report segments the global aviation
MRO logistics
market into the following end-users (civil
aviation, military aviation, and business aviation) and key regions (the
Americas, APAC, and EMEA).

EMEA led the global aviation MRO logistics market in 2017 by
contributing to a market share of close to 38%. It was followed by the
Americas and APAC respectively. EMEA will dominate the global market
throughout the forecast period.

 
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