Why Benjamin Franklin Was Only Partially Right about Death

March 4, 2019| Author: Lisa Butters

In 1789, Benjamin Franklin wrote a letter that talked about the fragile state of the United States after it parted ways from Mother England. “Our new Constitution is now established, and has an appearance that promises permanency; but in this world, nothing can be said to be certain, except death and taxes.” Well said, Benjamin. In the human realm, death and taxes are indeed a sure thing. But in the case of the aircraft dismantling world, death does not come to all.  Aerospace parts don’t die. They are reborn.

 The used aerospace parts industry is a $4 Billion behemoth that receives a large source of its supply through dismantled aircraft. Do you ever wonder what happens when an airline wants to retire an aircraft from its fleet? They don’t send it straight to the aircraft graveyard. No, no—there’s still money to be had. The plane is sold and thousands upon thousands of parts are “harvested” and ultimately pushed into the used parts market for resale.

 This process sounds straightforward and easy, but “let’s take ‘give me the truth’ for $800, Alex”. The ugly answer is that even though airplanes might fly super-fast, this is not the case with the sales cycle for used aerospace parts. It takes about a month to dismantle an airplane and strip it free of every useful or valuable bit. Sure, there might be a few “gems” that are pre-sold before the entire plane is completely plundered but it takes time to box up the parts for storage. And from there? It could take weeks, if not months, for the parts to finally get listed for sale (and probably on some archaic, non-user-friendly listing service).

 So how long is the total time elapsed? From part dismantlement to listing it for sale, it takes roughly two to three months at best. In the age of making money, unless you’re Warren Buffet, it should be a sprint, not a marathon.  Therefore, I’m genuinely excited to see technology and trailblazers like Honeywell Aerospace Trading (HAT) and ECube Solutions completely transform the sales cycle timeline.

 In January of 2019, HAT purchased an A320 aircraft and it went through the typical dismantlement process at ECube. However, two historic milestones were achieved:

  1. The moment a component came off the plane, the part immediately went up for sale on GoDirect™ Trade with price, product images and quality documents. Sounds like a no brainer in today’s online consumer focused world but I’d like to point out that GoDirect™ Trade is the only aerospace marketplace on Planet Earth that offers this level of information on every single listing.  
  2. Every component dismantlement event was recorded on an immutable digital ledger through Blockchain technology. Even the aircraft death certificate was recorded on the ledger.

 Whether we like it or not, GoDirect™ Trade and Blockchain are putting a full court press on the used parts industry. HAT will eventually be listing parts for sale while an aircraft is still flying in the sky. GoDirect™ Trade is going to push the industry into a level of transparency that will send many seasoned traders into anaphylactic shock but will entice the buyers to do cartwheels of happiness.

 The stage is set for a major shakeup in the industry. I don’t care who you are or what you believe. If we’re going to come out winners, we need to take one from a Millennial’s playbook. Whatever you do, do it now. Join the GoDirect™ Trade community today and be part of the change.   

LisaButters

Lisa Butters

GoDirect Trade Greenhouse, General Manager

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