The global aerospace & defense industry experienced a 61% drop in company filings mentions of digitalization in Q3 2022 compared with the previous quarter, with the highest share accounted for by Larsen & Toubro with 31% year-on-year decrease, according to GlobalData’s analysis of over 68 aerospace & defense company filings.

Notably, digitalization was one of the most frequently referenced themes in Q3 2022, ranking highest in terms of mentions, ahead of internet of things and industrial automation, according to GlobalData.

Of the 50 leading companies in the aerospace & defense industry, Larsen & Toubro had the greatest increase in references for digitalization in Q3 2022, compared with the previous quarter. GlobalData identified 82 digitalization-related sentences in the company's filings - 121 % of all sentences - and an increase of 720% in Q3 2022 compared with Q2 2022. General Electric’s mentions of digitalization rose by 766% to 52 and BAE Systems’s by 100% to 20.

GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for digitalization in Q3 2022 was 99.

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