Aerotrax Technologies signs Memorandum of Understanding with Triumph Group

Rhea-AI Summary

Aerotrax Technologies, based in Dallas, has signed a Memorandum of Understanding (MOU) with Triumph Group (NYSE: TGI) to pilot its blockchain-based Maintenance, Repair and Overhaul (MRO) Service Management System. This partnership will enhance real-time data sharing, aiming to improve operational efficiency and customer experience. The technology is expected to reduce turnaround time and improve document quality for MRO service providers and airlines. Both companies emphasize the potential of combining innovation with existing systems to streamline operations and better serve MRO customers.

Positive

• Signing of MOU with Triumph Group to pilot MRO Service Management System.
• Utilization of blockchain technology to enhance operational efficiency.
• Potential reduction in turnaround time and improved document quality for MRO operations.

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• None.

DALLAS, Jan. 31, 2022 /PRNewswire/ -- Aerotrax Technologies, Inc., a Dallas, Texas-based enterprise software company, today announced the signing of a Memorandum of Understanding ("MOU") with Triumph Group (NYSE: TGI) to commercially pilot the Aerotrax Maintenance, Repair and Overhaul (MRO) Service Management System, enabling real-time data sharing, collaboration, and communication with participating Triumph Group repair stations and customers.

The engagement will use Aerotrax's proprietary blockchain-based digital infrastructure to execute repair orders, manage customer requirements, and ensure the seamless exchange of part related data. For a MRO Service Provider, the technology improves quality control, operational efficiency, and provides a differentiated customer experience. As for airlines or integrator customers, the benefits include reduced turn-around-time (TAT), which can lead to reduced inventory levels, superior document quality control and tracing, and up to the minute status of "in work" components at the MRO shops.

"This is a step to combine innovation and technology into the MRO marketplace," said Jim Berberet, President of Triumph Product Support. "Blockchain technology paired with Triumph's internal operating system and personnel will allow Triumph to streamline the repair transaction process and gain efficiencies that will benefit Triumph MRO customers."

"We are excited to take this important step with Triumph Group," said David Bettenhausen, Chief Executive Officer of Aerotrax Technologies. "We've been building in semi-stealth for over two years now, spending much of that time collaborating closely with the outstanding people at Triumph Group. The phased approach to the rollout of our software across participating Triumph sites and airline or integrator customers ensures incentives are aligned all the way through. As we gear up for the publicly available launch of our digital supply chain network, this MOU serves as a foundation for growth."

About Aerotrax Technologies, Inc.
Aerotrax Technologies, Inc. is an enterprise software company focused on digitally tracking the entire lifecycle of every plane, part, and component in the air and on the ground. The company's distributed ledger technology network links the disparate systems and processes across business unit siloes and different organizations in the Aviation and Aerospace supply chain in order to protect the value of mission-critical assets.

By better connecting the People who manage these operations to secure, reliable, and actionable data, Aerotrax advances its mission to promote a safer, more sustainable Aviation and Aerospace industry.

To learn more about Aerotrax Technologies, visit www.aerotrax.com.

About Triumph Group, Inc.
Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs, and overhauls a broad portfolio of aerospace and defense systems, components, and structures. The company serves the global aviation industry, including original equipment manufacturers and the full spectrum of military and commercial aircraft operators.

More information about Triumph Group can be found on the company's website at www.triumphgroup.com.

Contact
media@aerotrax.com

Related Links
www.aerotrax.com

 

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SOURCE Aerotrax Technologies Inc.

FAQ

What is the significance of the MOU signed between Aerotrax and Triumph Group on January 31, 2022?

The MOU facilitates the pilot of Aerotrax's blockchain-based MRO Service Management System with Triumph Group, enhancing operational efficiency.

How will Aerotrax's technology benefit Triumph Group's MRO services?

It will improve real-time data sharing, reduce turnaround time, and enhance document quality for repair operations.

What technology does Aerotrax use for its MRO Service Management System?

Aerotrax employs a proprietary blockchain-based digital infrastructure for its service management.

What improvements can Triumph Group expect from using Aerotrax's MRO Service Management System?

Improvements include operational efficiency and a differentiated customer experience through enhanced data management.

When was the MOU between Aerotrax and Triumph Group announced?

The MOU was announced on January 31, 2022.