in Maintenance

SITA and key industry partners launch MRO blockchain alliance

Posted 4 February 2020 · Add Comment

Key industry partners have launched the MRO Blockchain Alliance, the air transport’s first industry-wide investigation into the use of blockchain to track, trace and record aircraft parts.

The new alliance comprises leading organizations covering every aspect of the Maintenance, Repair and Overhaul (MRO) chain, from part manufacture and repairs to logistics and smart contracts. Members currently include Bolloré Logistics, Cathay Pacific, FLYdocs, HAECO Group, Ramco Systems, SITA, and Willis Lease Finance Corporation, supported by Clyde & Co. The alliance was first mooted in 2019 at a HAECO Group event with the aim of bringing the various stakeholders together to set a global standard around the use of blockchain to trace parts.

In the coming months, the alliance will launch a proof of concept to demonstrate the use of blockchain to digitally track and record the movements and maintenance history of parts across a wide number of players. These include airlines, lessors, original equipment manufacturers (OEMs) such as engine producers, logistics suppliers, and maintenance providers.

This tracking information will be vital to managing a complex logistics value chain that can span several stakeholders over the lifetime of each individual part. Currently, there is no global database, incomplete data sharing, and only partial digitalisation. The alliance believes that the use of blockchain will simplify and speed up parts tracking while enabling the secure sharing of information between industry stakeholders.

PwC estimates that the use of blockchain could increase aerospace industry revenue by as much as 4%, or US$40 billion, while cutting MRO costs globally by around 5% or US$3.5 billion. Savings will be derived from secure document storage, ensuring confidentiality and data privacy, improved insights on repair time and inventory, automated workflows and more efficient record reconciliation.

* required field

Post a comment

Other Stories
Advertisement
Latest News

EgyptAir receives fourth Airbus 320neo at Cairo International Airport

EgyptAir’s fourth A320 Neo aircraft arrived today at Cairo International Airport from 15 aircrafts the company has contracted for, from Airbus factory in Toulouse, France, in cooperation with Aercap.

Kenya Airways appoints Allan Kilavuka as chief executive

Kenya Airways yesterday confirmed it has appointed Allan Kilavuka as chief executive of the airline.

Watching this space

With space-based air traffic management gaining traction globally, Thomas Kgokolo, the interim CEO of South Africa’s Air Traffic and Navigation Services (ATNS), speaks to Keith Mwanalushi about system integration in Africa.

Rolls-Royce BR725 engine tops one million flying hours

The Rolls-Royce BR725 engine recently achieved another impressive milestone by reaching one million flying hours.

Air Mauritius CEO elected on to IATA Board of Governors

The CEO of Air Mauritius and Vice President of AFRAA Somas Appavou will support main objectives of Air Mauritius Africa’s regional airlines and address major challenges region is facing through the most influential global industry

Aviation Africa opens in Ethiopia next week

One of the most strategically important aviation events in the 2020 calendar opens next week in Addis Ababa, Ethiopia – 4 & 5 March.

AVMENA20 SK1309100620
See us at
AVAFA20BT2207050320AVMENA20 BT1309100620