For effective asset management in the aviation industry, asset tracking is critical. The industry uses crucial assets such as unit load devices, spare parts, and inventories. The aircraft themselves are the biggest assets of airport activity. Besides, there are thousands of assets in operation, that need asset tracking.
According to the global news wire, “What are the latest developments on the airport asset tracking market? The analyst estimates that the global installed base of active airport asset tracking systems was over 0.2 million units in 2019. Growing at a CAGR of 15.4 percent, the active installed base will reach close to 0.5 million units worldwide in 2024. This includes all airport asset tracking systems deployed for various motorised ground support equipment (GSE), non-motorised equipment (NME) as well as other applicable airport assets including on-road vehicles used in airport environments.”
Airports have a conditioned environment where millions of people are travelling on a daily basis. They are points to helps travellers reach their destinations. Airport also enable transport of personal baggage and commercial cargo to their destinations.
But can airport staff know whether the consignment is delivered on time? Yes, they can, with the help of real-time asset tracking.
Also Read: How Crucial Is It to Include Real-Time Asset Tracking System?
What is Asset Tracking?
It is the process through which assets and equipment are tracked and information is collected. Asset tracking helps in fulfilling several objectives such as asset maintenance, asset life cycle management, etc. Some people also generically refer to it as asset management.
Through asset tracking, you can save a lot of time and money. The processes are more automatic rather than manual procedures. Asset tracking provides vital data that assists management in future planning and decision-making process.
How Real-Time Asset Tracking Is Done?
Below are several techniques used for real-time asset tracking:
It stands for Radio Frequency Identification. RFID tags are used for real-time asset tracking. This technology is best suited for indoor tracking.
Global Positioning System was initially used for fleet management. However, this technology is now not just used in the automobile industry but in other industries also. GPS tracking allows tracking assets across the world.
IoT stands for Internet of Things. It is one of the most effective technologies for real-time asset tracking. Some of the major US-based organizations use it to see the assets on the ground.
BLE stands for Bluetooth Low Energy. For very accurate indoor tracking, BLE beacons can be installed for precise positioning of assets.
All these technologies are compatible and provide real time asset tracking.
How Is Asset Tracking Beneficial for Aviation Industry?
Asset tracking can be very beneficial for aviation industry. Let us see below.
Asset theft can be a worrying issue. According to the dailymail article, “London airport security guard reveals items are stolen from trays every day”. Thousands of theft events have occurred and the responsibility of the airport staff has increased to keep guest luggage secured.
To avoid such types of scenario, asset tracking can be utilized. Asset management software provides accurate and exact information on assets.
Inventories are consumable things or items that an organization owns and uses for their operations. Inventory tracking refers to the tracking of non-unique items or inventories of value to an organization. Inventories form a significant part of aviation industry. Inventory may include spare parts of the plane or airport ground operations.
Read More: Top 5 Features of Asset Tracking Software for AV Industry
When the necessary inventory is not available in stock, it can lead to decreased productivity, business loss, and missed deliveries.
If a machine fails and spare parts are not available in stock, it affects the organization's productivity. The absence of a centralized information system can often lead to wrong information getting communicated and work getting disrupted or mismanaged.
Maintenance is one of the most important aspects of airport activity. For example, an airplane is under a lot of pressure when it is airborne, with a lot of carried weight and hundreds of lives at stake.
Therefore, the aircraft needs critical maintenance very frequently. There can be no room for error as one minor mistake can result in a major mishap.
Mismanagement of equipment not only leads to avoidable costs on maintenance but also results in decreased equipment life.
With the asset tracking system in place, maintenance is done automatically. No one needs to remember manually to do work. The software triggers alerts and notifies the maintenance team for each particular asset and equipment.
During the entire equipment life cycle, a business firm can confront several maintenance issues. Unexpected maintenance issues can cut into the benefits of the organization.
The asset tracking software does the job perfectly, keeping all information and data of all equipment in the system and making them available in time. It also helps in scheduling maintenance jobs as well and issues alert for the personnel. It also assists in growing the business by identifying unproductive items.
Then again, under-maintenance can also prompt diminished efficiency. Therefore, maintenance needs to be done on a regular basis. The software helps in tracking the maintenance of all the assets.
Moreover, with asset tracking management software assistance, you can easily see maintenance records. The maintenance needs of assets can be identified and unexpected breakdowns avoided, consequently saving on downtime expenses.
Detailed Analytics & Reports
Through data and reports, one can easily gather, analyze, and apply equipment information to enhance efficiency and productivity. Tracking assets such as planes and other mobile airport assets are important in respect of their functional performance.
The software provides crucial data and information that assist the management to take effective decisions, make future plans, and communicate alerts to the teams on work orders.
The software also enables the management to identify potential problems and resolve them as quickly as possible before they snowball into big issues.
Also Read: What is the Need of Asset Tracking Software for the AV Industry?
In airports, an asset management system can be used for motorised ground support equipment (GSE) as well as non-motorised equipment (NME) on-road vehicles (airport asset) depending upon the requirements.
Different organizations have different requirements for the purpose of asset tracking. Some utilize the system to track specific assets while others may use a comprehensive solution.
The best part is that real-time asset tracking software can be tailored as per the company's specific needs. You can contact us or schedule a free demo.