Fintech innovation among aerospace companies has declined over the past three months

Fintech research and innovation in the aerospace equipment and technology sector has declined over the past year.

The latest figures show the number of fintech-related patent applications in the industry stood at 10 in the three months ending in July, down from 23 in the same period in 2021.

Figures for granted fintech patents followed a similar pattern to applications, falling from 26 in the three months ending July 2021 to 6 in the same period in 2022.

The figures were compiled by GlobalData, which tracks patent applications and grants from official offices around the world. Using textual analysis as well as official patent classifications, these patents are grouped into key subject areas and associated with key companies in various industries.

Fintech is one of the key areas tracked by GlobalData. It has been identified as a key disruptive force facing companies in the coming years, and is one area where companies investing resources now are expected to reap rewards.

The figures also give an idea of ​​the biggest innovators in the sector.

Thales SA was the top fintech innovator in the air force equipment and technology sector last quarter. The France-based company filed 5 fintech-related patents in the three months ending in July. That’s down from 12 for the same period in 2021.

It was followed by France-based Safran SA with 3 fintech patent applications, United States-based General Dynamics Corp (1 application) and US-based Cubic Corp (1 application).