Since July the US has become a hotspot for transport-related filings after a flurry of investment pledges by President Biden and the US Department of Transport (USDOT).
US transport patents have remained steady throughout 2023, notching up 330 in July, while Chinese patents dipped dramatically.
An absence of Chinese transport filings may be related to Beijing’s recent reported economic woes.
In July, China’s economy entered deflation for the first time in more than two years. This is expected to limit the number of patent grants Chinese state-owned companies are able to assign to its transport industry, contrary to its previous strategy.
South Korea and US fill Chinese gulf
Across the Yellow Sea, South Korea is also a prominent entity in transport filings, consistently ranking third after the US and China.
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The South Korean government is known for its innovative transportation projects, seen earlier this year with a deal signed to put 700 hydrogen buses on the roads of Incheon by the end of 2024.
Intended to strengthen supply chains and increase use of US waterways, the $12m in funding for the US Marine Highway Program shows similar intent.
“America’s waterways serve as critical links in our nation’s supply chains,” said Pete Buttigieg, US Transportation Secretary. “These investments in our marine highways will help to strengthen our supply chains, reduce emissions, and create jobs across the country.”
The US has long been ridiculed for its outdated and subpar airport infrastructure. The Federal Aviation Administration has pledged nearly $1bn to build or expand terminal facilities, prominently including $10.8m to Des Moines International Airport in Iowa and $29m to Salt Lake City International Airport in Utah.
Our signals coverage is powered by GlobalData’s Thematic Engine, which tags millions of data items across six alternative datasets — patents, jobs, deals, company filings, social media mentions and news — to themes, sectors and companies. These signals enhance our predictive capabilities, helping us to identify the most disruptive threats across each of the sectors we cover and the companies best placed to succeed.