The sector views blockchain’s secure, immutable and decentralized features as a way to help reduce maintenance costs, increase aircraft availability, and minimize errors in tracking aircraft parts.
“Blockchain is well-suited to improve the performance of one of the world’s most complex, globally interconnected and security-dependent supply chains,” said John Schmidt, who leads Accenture’s Aerospace & Defense practice globally. “This elegant and paradigm-shifting technology has the potential to deliver profound benefits for the hundreds of suppliers typically involved in the manufacturing of a single aircraft.”
The 86 percent of respondents from aerospace and defense companies who said they plan to integrate blockchain in their corporate systems by 2021 was higher than the percentage for all but two of the 18 industries surveyed as part of the broader research.
The survey findings point to numerous data challenges that blockchain technology can help address. For instance, the research found that more than two-thirds (70 percent) of the aerospace and defense executives surveyed believe that companies will be grappling with growing waves of corrupted insights as more falsified data infiltrates their data-driven information systems.
