Honeywell has developed a blockchain-based e-commerce platform to facilitate the online retail of aviation parts worldwide.
The platform is called GoDirect Trade and is designed to use blockchain technology to help airlines, air transport and business aviation customers get easy access to new and used aircraft parts.
Part of Honeywell’s GoDirect family of products, the platform will help its users by providing transparency on pricing and the option to buy inventory directly from its website.
The current process for buying aviation parts involves contacting multiple companies, waiting days or weeks for parts to be priced and taking the risk of buying from a company that does not have the product currently in stock.
“The platform will help its users by providing transparency on pricing and the option to buy inventory directly from its website.”
GoDirect Trade lists all images and quality documents for the aviation part being sold to give customers confidence in their purchase.
The platform also includes parts that are immediately available for sale and shipping.
In addition, GoDirect Trade intends to strengthen connections between buyers and sellers by allowing them to directly communicate with one another.
Honeywell Aerospace GoDirect Trade general manager Lisa Butters said: “Currently, less than 2.5% of all transactions in this space are done online.
“Up until now, the ability to shop for spare parts online with prices, product images and quality documentation all in one place was unheard of for the aviation industry.”
Honeywell’s GoDirect portfolio is developed to provide aviation services and applications for operators, flight crews and maintenance teams.