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September 2, 2022updated 01 Sep 2022 2:29pm

Filings buzz in the aerospace and defence sector: 265% increase in cloud computing mentions in Q2 of 2022

We've analysed companies' annual reports and other filings to see which key issues are receiving the most attention.

By Data Journalism Team

Mentions of cloud computing within the filings of companies in the aerospace and defence sector rose 265% between the first and second quarters of 2022.

In total, the frequency of sentences related to cloud computing between July 2021 and June 2022 was 200% higher than in 2016 when GlobalData, from whom our data for this article is taken, first began to track the key issues referred to in company filings.

When companies in the aerospace and defence sector publish annual and quarterly reports, ESG reports and other filings, GlobalData analyses the text and identifies individual sentences that relate to disruptive forces facing companies in the coming years. Cloud computing is one of these topics - companies that excel and invest in these areas are thought to be better prepared for the future business landscape and better equipped to survive unforeseen challenges.

To assess whether cloud computing is featuring more in the summaries and strategies of companies in the aerospace and defence sector, two measures were calculated. Firstly, we looked at the percentage of companies which have mentioned cloud computing at least once in filings during the past twelve months - this was 68% compared to 29% in 2016. Secondly, we calculated the percentage of total analysed sentences that referred to cloud computing.

Of the 20 biggest employers in the aerospace and defence sector, Leonardo was the company which referred to cloud computing the most between July 2021 and June 2022. GlobalData identified 57 cloud-related sentences in the Italy-based company's filings - 0.7% of all sentences. General Dynamics mentioned cloud computing the second most - the issue was referred to in 0.2% of sentences in the company's filings. Other top employers with high cloud mentions included Leidos, Thales and Saab.

Across all companies in the aerospace and defence sector the filing published in the second quarter of 2022 which exhibited the greatest focus on cloud computing came from Leonardo. Of the document's 3,598 sentences, 27 (0.8%) referred to cloud computing.

This analysis provides an approximate indication of which companies are focusing on cloud computing and how important the issue is considered within the aerospace and defence sector, but it also has limitations and should be interpreted carefully. For example, a company mentioning cloud computing more regularly is not necessarily proof that they are utilising new techniques or prioritising the issue, nor does it indicate whether the company's ventures into cloud computing have been successes or failures.

In the last quarter, companies in the aerospace and defence sector based in Western Europe were most likely to mention cloud computing with 0.14% of sentences in company filings referring to the issue. In contrast, companies with their headquarters in the United States mentioned cloud computing in just 0.04% of sentences.

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