Kuehne+Nagel, the leading providers of global aerospace logistics services, and Block Aero, developer of the first aerospace blockchain asset management platform, have come together to allow engine stand managers a solution to convert their capital intensive and underutilized equipment into reliable and profitable IOT-powered assets.
OEMs, airlines, MROs and lessors from the KN EngineChain and Block Aero Aviation Blockchain Network will be able to transform their engine stands into Smart Stands. Users of the platform will be able to monitor their engine stands and share real-time availability status and demand signals with participants across a private and permissioned blockchain network.
Smart Stands combine physical sensors and a digital twin of the engine stand to store technical records and important event data. Stands are serialized with the Block Aero distributed ledger application, and complete a secure global pool onboarding process to establish chain of custody. and maintenance status document review.
Taking an open innovation approach, Block Aero and Kuehne+Nagel expect to collaborate with more organizations that can bundle value-add services into the Engine Stand Global Pooling Program to exploit opportunities in financing, maintenance, trading, and asset management.
Todd Siena, Founder & CEO of Block Aero, said, “Block Aero estimates that many stand owners will be able to generate $1-10m of free cash flow in the short-term by onboarding assets to the global pool and leveraging the program’s sale and lease-back offerings.”
Marcelo Riso, Kuehne+Nagel Global Aerospace Product Manager for Engine Logistics added, “The ability to seamlessly integrate logistics, maintenance, and asset management functionality in real-time with a bundled solution is the breakthrough product we are excited to bring to market with Block Aero.”
The first engine stands to have IOT installed and be onboarded to the new program will be selected from August 2022. There are more than 70,000 stands that are Smart Stand candidates.
With over 78,000 employees at over 1,300 sites in over 100 countries, the Kuehne+Nagel Group is one of the world’s leading logistics providers. It operates in sea logistics, air logistics, road logistics and contract logistics, with a clear focus on integrated logistics solutions.
Block Aero is an award-winning blockchain platform that allows organizations across the aviation supply chain to take control of their data, operations and collaborative workflows. We help organizations lower the cost of business, reduce turnaround times and explore new revenue streams.