Honeywell International Inc. is using blockchain to shake up the market for used aircraft components, making it easier to check the certification and origin of a part and speeding up transactions. The company’s Honeywell Aerospace unit earlier this year introduced an online marketplace based on blockchain that lets more than 800 international buyers and sellers trade aerospace parts in real time. Many websites list used aircraft parts but omit details like final prices or provenance documents. It’s not like ‘Oh, what did I get from eBay?’”The used aircraft parts market was valued at $5.4 billion last year, 60% of that engine-related and 36% component-related, according to ICF. Write to Agam Shah at agam.shah@wsj.comCorrections & AmplificationsHoneywell Aerospace’s online marketplace for used aircraft parts has more than 800 buyers and sellers.

Source: Wall Street Journal May 28, 2019 19:41 UTC