Blockchain E-Commerce Platform For Aviation Parts Launched By Honeywell

Announcements, Blockchain, News | December 18, 2018 By:

Tech and manufacturing company Honeywell has created a new blockchain-based e-commerce platform to bring the ease of everyday online buying and selling to the aviation parts industry.

Founded in 1906, Honeywell provides a variety of commercial and consumer products, engineering services and aerospace systems for a wide variety of customers, from private consumers to major corporations and governments. It offers aerospace products and services, control, sensing and security technologies, turbochargers, automotive products, specialty chemicals, electronic and advanced materials, process technology for refining and petrochemicals, and energy efficient products and solutions.

The new e-commerce platform, called GoDirect Trade, is using blockchain technology to improve access to new and used aircraft parts for airlines, air transport and business aviation customers. The platform ensures every listing includes images and quality documents for the exact part being offered for sale, giving the buyer confidence about purchasing the part.

“Previously, buyers looking for aviation parts such as avionics, auxiliary power units and more would have to call numerous companies, wait days or even weeks to price a part, and risk buying from a company that did not have the inventory immediately in stock,” the company said. “On GoDirect Trade, there is no need to wait days or even weeks for the seller to confirm availability.”

The platform will allow buyers and sellers to directly contact each other to ensure both parties are satisfied with the exchange. The goal is to build stronger connections between buyers and sellers.

“We are the first marketplace to enable customized seller storefronts, and we are the first to leverage blockchain technology to build trust between the buyer and seller,” said Lisa Butters, who is leading the new Honeywell Aerospace venture. “All of these firsts will bring us into a new era focused on the buyer’s experience while enabling sellers to grow globally. Our platform and mindset will change the way the industry does business.”

Thomas Noonan, director of material and part sales, StandardAero Total Aircraft Spares, said that GoDirect Trade represents an evolution in their market, and being backed by a major equipment manufacturer brings the confidence they need to be one of the early adopters.

“This technology will help propel the aviation industry forward into the realm of other e-commerce sites that many of us use each day without a second thought,” said Noonan.