Honeywell Uses Blockchain to Modernize Aviation Parts Trading

Honeywell Uses Blockchain to Modernize Aviation Parts Trading

Honeywell has introduced a new e-commerce platform, GoDirect Trade. The company says it will improve access to new and used aircraft parts for airlines,air transport and business aviation customers by offering transparent pricing and the option to buy inventory directly from its website.

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

Honeywell says that previously, buyers looking for aviation parts such as avionics and APUs would have to call numerous companies, wait days or weeks to price a part, and risk buying from a company that did not have the inventory immediately in stock. On GoDirect Trade, Honeywell is using blockchain technology to ensure every listing includes images and quality documents for the exact part being offered for sale. In addition, Honeywell says every part on GoDirect Trade is immediately available for sale and shipping, eliminating the need to wait for the seller to confirm availability.

“Currently, less than 2.5 percent of all transactions in this space are done online,” said Lisa Butters, who is heading up the new Honeywell venture. “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.”

The company says GoDirect Trade aims to build connections between buyers and sellers. They can directly contact one another via the platform. As with similar websites in other industries, online reviews of both buyers and sellers are encouraged. “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,” Butters said. “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.”