DAX companies increasingly rely on innovation – despite stagnating revenues and declining profits
Technology, automotive and aerospace/defense sectors are setting the pace for innovation in the DAX
Companies such as SAP, Infineon, Siemens, MTU Aero Engines and Rheinmetall show strong alignment with structural megatrends like digitalization, AI, sustainable industry and defense. They stand out with above-average R&D ratios and focused investment strategies.
 Innovation gaps are widening across sectors – chemistry, pharma and telecom under pressure
While technology and industrial companies leverage innovation as a deliberate growth driver, firms in the chemical, pharmaceutical and telecommunications sectors are under increasing pressure due to declining EBIT margins. High input costs, regulatory burdens and stagnant markets are weighing heavily on players in the chemistry, pharma and telecom sectors.Â
Artificial intelligence is becoming a central tool for innovation
Almost all DAX companies now embed AI in their strategic agendas – from automating knowledge-intensive workflows to enhancing customer interfaces and optimizing operations. Innovation leaders are going beyond efficiency gains by leveraging generative AI to unlock entirely new value streams.