ESG innovation has dropped off in the last year
Analysis of declining ESG innovation in the airport industry, using data from GlobalData.
Research and innovation in environmental, social, and governance (ESG) in the airport equipment supply, product, and services sector has declined in the last year.
The most recent figures show that the number of ESG patent applications in the industry stood at 17 in the three months ending November – down from 48 over the same period last year.
Figures for patent grants related to ESG followed a similar pattern to filings – shrinking from 22 in the three months ending November last year to 11 this year.
The figures are compiled by GlobalData, which tracks patent filings and grants from official offices around the world. Using textual analysis, as well as official patent classifications, these patents are grouped into key thematic areas and linked to key companies across various industries.
ESG is one of the key areas tracked by GlobalData. It has been identified as being a key disruptive force facing companies in the coming years and is one of the areas that companies investing resources in now are expected to reap rewards from.
The figures also provide an insight into the largest innovators in the sector.
Korea Shipbuilding & Offshore Engineering was the top ESG innovator in the airport equipment supply, product and services sector in the last quarter. The company, which has its headquarters in South Korea, filed 33 ESG-related patents in the three months ending November. That was down from 36 over the same period last year.
It was followed by the US-based Westinghouse Air Brake Technologies, with 18 ESG patent applications.
For more market data and analysis visit GlobalData's Travel & Tourism Intelligence Centre.