in Features

Blockchain for aviation asset management

Posted 5 July 2017 · Add Comment

Bas de Vos, Director of IFS Labs at IFS, explores the potential benefits of using blockchain technology as a way to securely reinforce aviation asset management.

Blockchain is one of the most discussed and intriguing technologies out there today.

I will not go too deeply into the specifics of how it works since that has been covered by many other sources. Suffice to say that it is a huge, global distributed ledger or database running on many devices and open to anyone within the blockchain. In the Blockchain, information, or anything of value can be stored. Its purpose is to ensure a 100% secure, verifiable and traceable database protocol.

So far, most use cases have been focused on the financial sector, including transaction management where costs are reduced by keeping property ownership and records or using it to track high-value goods, such as diamonds. There is, however, a huge untapped market in asset management - specifically in the commercial aviation industry.

Aviation – A highly regulated market with complex supply chains
A modern aircraft consists of roughly two to three million parts. It is crucial to know the provenance of these parts, i.e. original manufacturer and exact product model and version, in order to ensure they have the right specification and that they are not counterfeit. In addition, many of these parts are so-called 'tracked items'. Not only their provenance, but the entire maintenance history of these parts needs to be transparent.

Today, the many participants in an asset’s lifecycle - from manufacturers to transporters, maintainers and operators - each have their own disparate systems for managing assets. Consequently, it is quite difficult to establish and maintain a single version of the truth when looking at that asset’s entire lifecycle. Often, these records can be incomplete or non-digitised, where communication between the different participants is often conducted on paper or even verbally. Lack of standardisation leads to limited traceability and the cost for non-compliance can be high.

Yet what if all of these participants submitted a transcript of the transactions into a purpose-specific, distributed ledger — like blockchain, which only authorised participants would have access to?

The manufacturer would initially start the blockchain for the asset and each participant would add the relevant blocks to it. The distributor would let the chain’s participants know that the asset was transported from point A to point B, while the operator would register the number of flight hours that the asset has undergone.

Using blockchain for this asset management scenario would give you a 100% verifiable, traceable and trustworthy history of the asset’s lifecycle in real-time. Each individual participant in the chain still has the features and benefits of their own business applications to run their business.

Potential benefits for the blockchain participants:

  • Improved data quality through minimised need for manual data entry by the various participants
  • A single, traceable record of serial numbers
  • Complete and more accurate maintenance history
  • Increased trust between service providers, suppliers and operators
  • Reduced cost for compliance
  • More flight hours for the aircrafts due to improved reliability of parts

Integration is key
So how can we achieve these benefits? There are several players that need to work together to make this happen: the technology providers must work together with the regulating authorities, such as the FAA, and the airlines and their partners, as well as with software vendors. We all need to work together and be willing to share information to integrate with the Blockchain.

We are not there yet, as there are still several challenges to overcome. Things like technical performance need to be considered, as latency of transactions and computing power could stand in the way for achieving consensus within a chain. Data ownership, privacy and security must also be addressed.

There are certainly a few things to consider before blockchain succeeds in asset management but there is huge potential and a possible competitive edge for those who are willing to get in on the ground floor.

 

Other Stories
Advertisement
Latest News

Raytheon UK's Landshield foils jammers

Raytheon UK’s next-gen GPS anti-jamming system, Landshield, has been developed to not only provide alerts on the presence of interfering signals and data in real time but also nullifies the effects of a whole range of hostile jammers.

Collins Aerospace goes virtual for 20th year of ‘Introduce a Girl to Engineering’

Kilkeel based Collins Aerospace has joined the global movement of encouraging girls to explore Science, Technology, Engineering and Mathematics (STEM) subjects and to consider those fields as part of their future careers, by hosting

Rolls-Royce secures UK MoD funding for tech to support naval autonomy

Rolls-Royce has been awarded funding by the UK Ministry of Defence (MoD) to further develop and demonstrate the Artificial Chief Engineer technology - an autonomous machinery control system which allows naval vessels to undertake

London City Airport receives global customer service award

London City Airport has been recognised as one of the best airports in Europe in the prestigious 2020 Airport Service Quality (ASQ) Awards.

Smiths Detection’s HI-SCAN 145180-2is pro 'Qualified' by TSA for cargo use

Smiths Detection today announced that its dual-view air cargo scanner, the HI-SCAN 145180-2is pro, has been added to the 'Qualified' section of the Transportation Security Administration’s (TSA) Air Cargo Screening Technology List

Horizon Technologies secures FlyingFish order at IDEX 2021

Horizon Aerospace Technologies Division has received an order for a FlyingFish FF3/S Sat Phone geolocation system (and ancillary items) from a UAE prime contractor yesterday at IDEX 2021 in Abu Dhabi, for use on a surveillance aircraft

ODU UK SK0902311221
See us at
DSEI bt1602170921Security & Policing 2021 BT