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Honeywell is introducing online purchase and sales in the aeronautical parts industry with GoDirect Trade that will use blockchain technology. The e-commerce platform will improve access to new and used aircraft parts for airlines, air transport passengers and business aviation. Its appeal lies in price transparency and the ability to purchase inventory directly from Honeywell's website.
"GoDirect Trade represents an evolution in our market, and the fact of being supported by a major equipment manufacturer brings the confidence we need to be one of the first users,"Said Thomas Noonan, director of materials and partial sales, StandardAero Total Aircraft Spares."This technology will help advance the aviation industry in the realm of other e-commerce sites that many of us use every day without thinking twice."
The aeronautical challenge that Honeywell wants to tackle
Buyers looking for aviation components, such as avionics, auxiliary power units and more, must call numerous companies and wait days or even weeks to pay for a part. They also risk buying from a company that does not have the inventory immediately available. Less than 2.5% of all transactions in the aviation sector are made online. The possibility of buying spare parts online with prices, product images and quality documentation in one place has long been a desire of the aeronautical industry.
Honeywell Aerospace products and services are found on virtually all commercial, defense and space planes. Its aerospace business unit builds:
- aeronautical engines
- cockpit and cabin electronics
- wireless connectivity systems
- mechanical components
- etc.
With GoDirect Trade, Honeywell will implement blockchain technology to ensure that each card includes quality images and documents for the exact part offered for sale. The idea is that this gives confidence to buyers in buying the part. In addition, every part on GoDirect Trade is immediately available for sale and shipment. The need to wait days, or even weeks, for the seller to confirm the availability disappears.
GoDirect Trade
GoDirect Trade is part of Honeywell's GoDirect family, a portfolio of more than 50 value-added aviation services and applications. These aim to provide operators, flight crews and maintenance teams with critical information to control the services and networks they offer.
Building on the experience gained from the Honeywell Aerospace Trading business, GoDirect Trade aims to create stronger links between buyers and sellers.
For example, buyers and sellers can directly contact each other through the platform. This simplifies the process by ensuring that the participating parties can find mutual satisfaction.
As with similar websites in other industries, Honeywell proposes to encourage online reviews of buyers and sellers.
According to Lisa Butters, head of the new Honeywell Aerospace adventure: "We are the first market to offer showcases of customized sellers and we are the first to take advantage of blockchain technology to create trust between buyer and seller. All these successes will take us into a new era focused on the buyer's experience and will allow sellers to grow globally. Our platform and our mentality will change the way the sector operates ".
Enterprise Times: what does this mean?
Over the past two years, Enterprise Times has been discussing aviation and its spare parts supply chain as an example of where blockchain could have an impact. The GoDirect commercial ad fits the blockchain expectations.
What, however, could be more significant is the low-key blockchain appearance. For Enterprise Times, it seems like a model is forming. There are those "sellers" who shout blockchain from the roofs, but they do not really do much with blockchain. In these cases blockchain is a form of marketing gloss, not a difficult business reality. On the contrary, those who "underestimate" the blockchain dimension would seem to be the ones that offer the most. Honeywell's GoTrade Direct seems to fit into this one.
