Case Study:

 

Honeywell Aerospace creates online parts marketplace with Hyperledger Fabric

Problem

Used aerospace parts are a $4 billion market, and growing. Yet less than 2.5% of all transactions were done online, mainly because the websites put up by vendors did not inspire much trust. With sketchy listings and no images, these sites forced buyers to phone, fax, or e-mail repeatedly—sometimes for weeks—to complete any purchase.

Solution

Honeywell Aerospace set out to streamline the sales of used aerospace parts with a modern and secure online marketplace called GoDirect Trade™. Buyers can now search listings complete with photos and full service documentation, then use a consumer-style shopping chart to check out. And every transaction is recorded on an immutable blockchain built with Hyperledger Fabric.

“In the $4 billion industry for used aerospace parts, less than 2.5% of all transactions are done online. Business is still being done the old-fashioned way. We really wanted to take the B2B space and fit it into the B2C mold, with an easy consumer-type experience.”

— Lisa Butters, General Manager, GoDirect Trade, Honeywell Aerospace

Results

  • $4 million in sales in less than a year
  • More than 50 vendors with storefronts in the new marketplace
  • Purchase time reduced from days to minutes
  • Future boost to anti-counterfeiting measures