Study Reveals Web3 Solutions Could Reduce Airlines’ Cargo Handling Costs by 7%

Airlines could potentially reduce their cargo handling costs by as much as 7% by adopting Web3-based solutions, according to a study conducted by Aventus and Airport Perishables Handling (APH) at Heathrow Airport.

The aviation industry frequently grapples with outdated technologies, last-minute maintenance issues, and sustainability challenges. Surprisingly, blockchain technology has the potential to address these problems effectively.

The Aventus study emphasizes the capability of blockchain technology to overcome obstacles in traditional Unit Load Device (ULD) management. For decades, the methods for global ULD management have changed little, mainly depending on manual data entry. This reliance creates issues with data visibility, accuracy, secure information sharing, and leads to costly losses, damages, and delays associated with ULDs. In total, these inefficiencies result in a financial burden exceeding $1.6 billion annually for airlines.

“Web3 technology, harnessed through blockchain, provides a robust solution by offering immutable, tamper-proof records, automating manual tasks with self-executing smart contracts, and delivering real-time visibility into ULD location, custodianship, and condition. These capabilities enhance data sharing and improve operational efficiencies,” the study indicates.

In a pilot program at Heathrow Airport, Aventus showcased the advantages of its blockchain-based cargo handling system. The findings revealed a 90% reduction in communication errors due to digitized data capture, an 83% decrease in time spent on manual paperwork, and a dramatic reduction in ULD stock updates from 3-4 hours to just 30 minutes. Furthermore, loading times decreased by 28% thanks to improved ULD loading processes.

“These results are truly remarkable, highlighting the transformative potential of blockchain for the aviation industry and supply chains worldwide,” stated Alan Vey, Founder of Aventus. “We are committed to empowering enterprises to enhance data accuracy, reduce operational inefficiencies, and achieve greater transparency. As we grow our partnerships across North America, Europe, the Middle East, and Asia, we expect these results to improve through network effects.”

Michelle Roosevelt, Director at Aviation Perishables Handling, remarked, “Aventus’ technology is fast and responsive, which is essential in our busy airport environment. We have experienced significant productivity enhancements. The app has transformed how we manage and track our aircraft containers, and the support and expertise from the Aventus team have been exceptional.”

Founded in 2020, Aventus develops Web3 environments tailored for launching programs and product activations. By blending industry knowledge with an understanding of enterprise needs, Aventus combines Web3 features with the familiarity of Web2.

Additionally, Aventus offers an aviation solution that fosters partnerships with major enterprises within the Polkadot ecosystem, including Aviation Perishables Handling at Heathrow, Vodafone’s Digital Asset Broker, and various prominent airlines in Asia and the Middle East.