Fintech research and innovation in the Air Force Equipment and Technology sector has declined over the past year.
The latest data show that the number of patent applications related to fintech in the industry was nine in the three months ending March – a decline of 24 over the same period in 2021.
The figures for fintech-related patent grants follow a similar pattern to the number of documents filed, shrinking from 14 in the three months ending March 2021 to five in the same period in 2022.
The data is compiled by GlobalData, which tracks patent and grant applications from official offices around the world. Using textual analysis as well as official patent classifications, these patents are grouped into key thematic areas and relate to key companies in various industries.
Fintech is one of the key areas monitored by GlobalData. It has been identified as a key destructive force facing companies in the coming years, and is one of the areas in which companies currently investing resources are expected to benefit.
The figures also give an idea of the biggest innovators in the sector.
Thales SA was the best financial technology innovator in the Air Force Equipment and Technology sector in the last quarter. The French-based company has filed two fintech patents in the three months ending March. That’s less than five for the same period in 2021.
It was followed by US-based The Boeing Co with two fintech patent applications, US-based Lockheed Martin Corp (1 application) and US-based Cubic Corp (1 application).