Global Blockchain in Automotive and Aerospace and Aviation Market Overview 

The Global Blockchain in Automotive and Aerospace and Aviation market size is estimated to reach $22.1 billion by 2026, growing at a CAGR of 51.3% over the forecast period of 2022-2026. Blockchain takes care of many manufacturing processes, ranging from storing data from bills of lading for vehicle components, quality inspection logs during the manufacturing process, and WIP information for each vehicle assembly.

The increasing demand for transparency and traceability in the supply chain system is expected to act as a driving factor for the sales growth of the market over the forecast period. Blockchain technology uses advanced security patches compared to other types of recording systems. Companies are increasingly looking for more innovative and cost-effective solutions to enable more secure access to data. Blockchain technology makes transactions end-to-end encrypted and keeps a proper link for old records. Organizations are increasingly focusing on delivering more advanced solutions using blockchain technology to meet the changing needs of end-users.

Impact of COVID-19:

New technologies, such as the Internet of Things (IoT), artificial intelligence (AI), machine learning (ML), Blockchain, robotics, 5G communications, and big data, were leveraged to develop efficient emergency management strategies for the COVID-19 pandemic. Moreover, blockchain technology was identified by the European Parliamentary Research Service as one of the ten key technologies to fight COVID-19. Because Its architecture's trusted and reliable nature makes it suitable to fight the pandemic, indeed, in every human interaction, Trust must be in place because it is not a behavior (e.g., cooperation) or a choice (e.g., taking a risk) a primary psychological condition that can cause or result from such actions. Hence, Blockchain had a positive impact during COVID-19, not just for this industry but overall.

Key Takeaways from Global Blockchain in Automotive and Aerospace and Aviation Market Report:

• Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units), and Value ($M) data given at country level – for Type, Application, and by different industry verticals.
• Understand the market dynamics – key driving factors, challenges, and hidden opportunities.
• Get in-depth insights on your competitor's performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT, and more.
• Analyze the sales and distribution channels across key geographies to improve top-line revenues.
• Understand the industry supply chain with a deep dive on the value augmentation at each step to optimize value and bring efficiencies in your processes. 
• Get a quick outlook on the market entropy – M&As, deals, partnerships, product launches of all key players for the past four years. 
• Evaluate the supply-demand gaps, import-export statistics, and regulatory landscape for more than the top 20 countries globally for the market.

By Type, the market for Private Blockchain Segment to grow at the highest CAGR during the forecast period.

During the forecast period, the market for the private blockchain segment is predicted to develop at the fastest rate of XX%. The private blockchain segment also held the most considerable revenue contribution to the global Blockchain in the automotive, aerospace, and aviation markets during 2020. Increasing usage of private Blockchain to manage the complete lifecycle and the need to adhere to regulatory requirements are some factors driving the revenue growth of this segment.

In addition, the rising demand for a decentralized structure in blockchain technology among industries is expected to boost the revenue growth of this segment. Furthermore, organizations use private blockchain technology to understand better-logged data of inspection or transactions, i.e., easy to track records and the entire process to be protected with a high level of security.

By Application, Aerospace & Aviation Segment to grow at the highest CAGR during the forecast period

The aerospace & aviation segment is predicted to develop at the fastest CAGR during the projection period due to the increasing demand for transparency and traceability in supply chain systems and the superiority of blockchain technology that uses advanced security patches compared to other types record-keeping systems. Companies are increasingly exploring more innovative and cost-effective solutions to enable more secure access to data. Blockchain technology makes transactions end-to-end encrypted and holds a proper link for old records. The aerospace and aviation industry has started using blockchain technology in operation management, supply chain, and logistics to keep track of latency, privacy, data traffic, and intelligent contrast security, leading to market growth.

North America to account for the largest market share during the forecast period.

North America held the largest share of the Blockchain in the Automotive and Aerospace, and Aviation market in 2020, with a global market share of 33%. The region's significant revenue share is primarily driven by the growing usage of private blockchain technology. Additionally, increasing demand for Blockchain across organizations in countries such as the U.S., Canada, and Mexico for better tracking and comparing logged data is expected to boost the market growth.

The Asia Pacific is set to be the fastest-growing over 2021-2026. This growth is due to the increasing need for better safety and security across industries. Changing technology in data management systems in some countries in this region is anticipated to bolster market revenue growth. The automotive and aviation industries are adopting blockchain technology for better control of data, further boosting the need for better blockchain technology.

Market Dynamics

Driver: 

The need to reduce transaction costs and immutability in Blockchain has been a prime reason for market penetration. 

The increasing need to reduce transaction costs and immutability in Blockchain is expected further to drive demand for blockchain technology in various organizations. Blockchain technology can also enable companies to work on an integrated platform for managing logs and records more efficiently. It implies that Blockchain creates efficiency in processing updated logs, thereby eliminating manual tasks such as aggregating and amending data.

The solutions manage and execute data analysis and transactions with better accuracy and reliability. Blockchain system also offers increased speed and automation, reducing paperwork and potential errors. It also reduces costs by eliminating intermediaries or third-party providers to check records. In a blockchain, transactions are verified by distributed nodes. Anyone can join or leave the network as they want without disrupting the network's ability to form a consensus on records.

Challenge: 

The lack of regulatory frameworks and technical expertise has raised questions and impeded market growth.

The concerns regarding lack of regulatory frameworks and technical expertise are key factors likely to hamper global Blockchain in automotive and aerospace and aviation market revenue growth to some extent over the forecast period. Concerns regarding the lack of regulatory frameworks have been increasing due to the increasing use of blockchain technology.

Regulators and businesses should develop and deploy guiding principles to attract private investors, ensure better user security, and provide safety towards anti-competitive practices. The private sector should also take initiatives to ensure industry-wide compliance with legislation and objectives such as collecting taxes and prosecution for illicit activities. The potential of transaction data leaks, identity fraud, legal violations, and Denial-of-service Attacks (DDoS) on blockchain technology are expected to hamper the market growth.

Key Market Players

Key Players in the Global Blockchain in the Automotive and Aerospace and Aviation Market consist of Amazon Inc., International Business Machines Corporation (IBM), Accenture PLC, Microsoft Corporation, Bitfury Group Limited, ConsenSys Inc., Provenance Inc., Mesosphere Inc., BigchainDB GmbH, and Oaken Innovations Inc.

Recent Developments:

• In May 2021, Provenance Inc. launched an open-source, decentralized blockchain, which is developed to support financial service industry needs by providing ledgers and online registers across financial markets. This new Blockchain will allow for a more structural framework, including market pricing and real-time settlement.

Report Coverage and Scope

The report "Global Blockchain in Automotive and Aerospace and Aviation Market" by Research Informatic covers an in-depth, detailed analysis for the following segment covered under the scope.

By Type

• Private Blockchain
• Hybrid Blockchain
• Public Blockchain

By Application

• Automotive 
• Aerospace & Aviation

By Geography

• North America
• Europe
• APAC
• RoW

Chapter 1 Blockchain in Automotive and Aerospace and Aviation Market Overview

1.1 Product Overview and Scope of Blockchain in Automotive and Aerospace and Aviation

1.2 Blockchain in Automotive and Aerospace and Aviation Market Segmentation By Product Type

1.2.1 Private Blockchain

1.2.2 Hybrid Blockchain

1.2.3 Public Blockchain

1.3 Blockchain in Automotive and Aerospace and Aviation Market Segmentation By End User

1.3.1 Automotive

1.3.2 Aerospace & Aviation

1.4 Blockchain in Automotive and Aerospace and Aviation Market Segmentation by Regions

1.4.1 North America

1.4.2 China

1.4.3 Europe

1.4.4 Southeast Asia

1.4.5 Japan

1.4.6 India

1.5 Global Market Size (Value) of Blockchain in Automotive and Aerospace and Aviation (2016-2021)

Chapter 2 Global Economic Impact on Blockchain in Automotive and Aerospace and Aviation Industry

2.1 Global Macroeconomic Environment Analysis

2.1.1 Global Macroeconomic Analysis

2.1.2 Global Macroeconomic Environment Development Trend

2.2 Global Macroeconomic Environment Analysis by Regions

Chapter 3 Global Blockchain in Automotive and Aerospace and Aviation Market Competition by Manufacturers

3.1 Global Blockchain in Automotive and Aerospace and Aviation Production and Share by Manufacturers (2016-2021)

3.2 Global Blockchain in Automotive and Aerospace and Aviation Revenue and Share by Manufacturers (2016-2021)

3.3 Global Blockchain in Automotive and Aerospace and Aviation Average Price by Manufacturers (2016-2021)

3.4 Manufacturers Blockchain in Automotive and Aerospace and Aviation Manufacturing Base Distribution, Production Area and Product Type

3.5 Blockchain in Automotive and Aerospace and Aviation Market Competitive Situation and Trends

3.5.1 Blockchain in Automotive and Aerospace and Aviation Market Concentration Rate

3.5.2 Blockchain in Automotive and Aerospace and Aviation Market Share of Top 3 and Top 5 Manufacturers

3.5.3 Mergers & Acquisitions, Expansion

Chapter 4 Global Blockchain in Automotive and Aerospace and Aviation Production, Revenue (Value) by Region (2016-2021)

4.1 Global Blockchain in Automotive and Aerospace and Aviation Production by Region (2016-2021)

4.2 Global Blockchain in Automotive and Aerospace and Aviation Production Market Share by Region (2016-2021)

4.3 Global Blockchain in Automotive and Aerospace and Aviation Revenue (Value) and Market Share by Region (2016-2021)

4.4 Global Blockchain in Automotive and Aerospace and Aviation Production, Revenue, Price and Gross Margin (2016-2021)

4.5 North America Blockchain in Automotive and Aerospace and Aviation Production, Revenue, Price and Gross Margin (2016-2021)

4.6 Europe Blockchain in Automotive and Aerospace and Aviation Production, Revenue, Price and Gross Margin (2016-2021)

4.7 China Blockchain in Automotive and Aerospace and Aviation Production, Revenue, Price and Gross Margin (2016-2021)

4.8 Japan Blockchain in Automotive and Aerospace and Aviation Production, Revenue, Price and Gross Margin (2016-2021)

4.9 Southeast Asia Blockchain in Automotive and Aerospace and Aviation Production, Revenue, Price and Gross Margin (2016-2021)

4.10 India Blockchain in Automotive and Aerospace and Aviation Production, Revenue, Price and Gross Margin (2016-2021)

Chapter 5 Global Blockchain in Automotive and Aerospace and Aviation Supply (Production), Consumption, Export, Import by Regions (2016-2021)

5.1 Global Blockchain in Automotive and Aerospace and Aviation Consumption by Regions (2016-2021)

5.2 North America Blockchain in Automotive and Aerospace and Aviation Production, Consumption, Export, Import by Regions (2016-2021)

5.3 Europe Blockchain in Automotive and Aerospace and Aviation Production, Consumption, Export, Import by Regions (2016-2021)

5.4 China Blockchain in Automotive and Aerospace and Aviation Production, Consumption, Export, Import by Regions (2016-2021)

5.5 Japan Blockchain in Automotive and Aerospace and Aviation Production, Consumption, Export, Import by Regions (2016-2021)

5.6 Southeast Asia Blockchain in Automotive and Aerospace and Aviation Production, Consumption, Export, Import by Regions (2016-2021)

5.7 India Blockchain in Automotive and Aerospace and Aviation Production, Consumption, Export, Import by Regions (2016-2021)

Chapter 6 Global Blockchain in Automotive and Aerospace and Aviation Production, Revenue (Value), Price Trend by Type

6.1 Global Blockchain in Automotive and Aerospace and Aviation Production and Market Share by Type (2016-2021)

6.2 Global Blockchain in Automotive and Aerospace and Aviation Revenue and Market Share by Type (2016-2021)

6.3 Global Blockchain in Automotive and Aerospace and Aviation Price by Type (2016-2021)

6.4 Global Blockchain in Automotive and Aerospace and Aviation Production Growth by Type (2016-2021)

Chapter 7 Global Blockchain in Automotive and Aerospace and Aviation Market Analysis by Application

7.1 Global Blockchain in Automotive and Aerospace and Aviation Consumption and Market Share by Application (2016-2021)

7.2 Global Blockchain in Automotive and Aerospace and Aviation Consumption Growth Rate by Application (2016-2021)

7.3 Market Drivers and Opportunities

7.3.1 Potential Applications

7.3.2 Emerging Markets/Countries

Chapter 8 Blockchain in Automotive and Aerospace and Aviation Manufacturing Cost Analysis

8.1 Blockchain in Automotive and Aerospace and Aviation Key Raw Materials Analysis

8.1.1 Key Raw Materials

8.1.2 Price Trend of Key Raw Materials

8.1.3 Key Suppliers of Raw Materials

8.1.4 Market Concentration Rate of Raw Materials

8.2 Proportion of Manufacturing Cost Structure

8.2.1 Raw Materials

8.2.2 Labour Cost

8.2.3 Manufacturing Expenses

8.3 Manufacturing Process Analysis of Blockchain in Automotive and Aerospace and Aviation

Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers

9.1 Blockchain in Automotive and Aerospace and Aviation Industrial Chain Analysis

9.2 Upstream Raw Materials Sourcing

9.3 Raw Materials Sources of Blockchain in Automotive and Aerospace and Aviation Major Manufacturers in 2022

9.4 Downstream Buyers

Chapter 10 Marketing Strategy Analysis, Distributors/Traders

10.1 Marketing Channel

10.1.1 Direct Marketing

10.1.2 Indirect Marketing

10.1.3 Marketing Channel Development Trend

10.2 Market Positioning

10.2.1 Pricing Strategy

10.2.2 Brand Strategy

10.2.3 Target Client

10.3 Distributors/Traders List

Chapter 11 Market Effect Factors Analysis

11.1 Technology Progress/Risk

11.1.1 Substitutes Threat

11.1.2 Technology Progress in Related Industry

11.2 Consumer Needs/Customer Preference Change

11.3 Economic/Political Environmental Change

Chapter 12 Global Blockchain in Automotive and Aerospace and Aviation Market Forecast (2022 - 2026)

12.1 Global Blockchain in Automotive and Aerospace and Aviation Production, Revenue Forecast (2022 - 2026)

12.2 Global Blockchain in Automotive and Aerospace and Aviation Production, Consumption Forecast by Regions (2022 - 2026)

12.3 Global Blockchain in Automotive and Aerospace and Aviation Production Forecast by Type (2022 - 2026)

12.4 Global Blockchain in Automotive and Aerospace and Aviation Consumption Forecast by Application (2022 - 2026)

12.5 Blockchain in Automotive and Aerospace and Aviation Price Forecast (2021-2027)

Chapter 13 Appendix