SXSW Startup: Airplanes Have Millions Of Parts, 14BIS Supply Tracking Is Protecting The Integrity Of Those Parts
Air travelers have enough to worry about these days. In addition to the stress caused from connecting flights, delays and routine safety issues, travelers shouldn’t have to worry about the parts in the airplane.
You might never think about things like this but most airplanes, commercial, private, freight and military, have millions of parts. There’s only one form for parts verification in the USA which creates an opportunity for counterfeit parts. Counterfeit parts don’t go through the grueling safety and verification process before they enter the market, and ultimately an aircraft you could be traveling on.
At least 2% of all aerospace parts are unapproved based on voluntary reporting. As airlines struggle to cut costs, this presents a growing issue.
A Houston startup called 14BIS Supply Tracking is the first of it’s kind in the world. They were founded to improve airplane safety by developing a groundbreaking process that changes the way parts are identified and tracked throughout the supply chain. All the while they ensure transparency and full lifecycle verification, increasing safety and reducing costs. They do this by leveraging blockchain technology and their own patent pending system.
While 2% may not seem like a lot, it translates to a conservative $1.9 billion dollars a year in money lost to OEMs, airlines and governments.
The Dark Side Of Counterfeit Parts
Today, when a plane crashes, whether it’s commercial, private, industrial or government, the NTSB kicks into action. One of the things they do is evaluate every single maintenance log, possibly going back as far as when the plane first into commission. Those logs will reveal every single part found on that airplane. All of the approved and genuine parts manufacturers have gone through a process to be approved for use on airplanes in our skies. Those genuine parts manufacturers are also backed by millions of dollars in insurance policies. The counterfeit part manufacturers are not.
When a plane does crash people demand accountability. It’s impossible to hold counterfeit part manufacturers accountable. The best thing to do is make sure that counterfeit parts aren’t making it onto airplanes in our skies. 14BIS Supply Tracking is the way to do that.
14BIS Supply Tracking is a top 50 finalist in the 2018 SXSW Accelerator. You can see them pitch at SXSW Interactive on March 10th and learn more about them at the SXSW Accelerator Demo Day, March 12th in Austin. You can also find out more on their website at 14bis.aero