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PwC Report Shows $12B Increase in US Aerospace, Defense R&D Spending

PwC Report Shows $12B Increase in US Aerospace, Defense R&D Spending - top government contractors - best government contracting event

PwC Report Shows $12B Increase in US Aerospace, Defense R&D Spending - top government contractors - best government contracting eventA study by PwC's consulting arm shows that U.S. aerospace and defense companies' spending on research and development efforts has climbed by nearly $12 billion so far this year, Defense News reported Wednesday.

The Global Innovation 1000 study conducted by Strategy& has found that top U.S.-based A&D firms recorded $11.79 billion in R&D spending, a figure that is $2.31 billion more than that of their international counterparts.

Boeing posted $4.63 billion in R&D spending and landed the top spot when it comes to R&D spending by U.S.-based A&D firms, followed by United Technologies Corp. at $2.34 billion and Lockheed Martin at $990 million.

France-based Airbus ranked first in R&D spending among foreign A&D companies with $3.36 billion, followed by Italy-based Leonardo at $1.45 billion and Rolls-Royce at $1.13 billion.

The study is based on the analysis of R&D spending at 1,000 global public companies as of June 30.

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Written by Jane Edwards

is a staff writer at Executive Mosaic, where she writes for ExecutiveBiz about IT modernization, cybersecurity, space procurement and industry leaders’ perspectives on government technology trends.

PwC Report Shows $12B Increase in US Aerospace, Defense R&D Spending - top government contractors - best government contracting event
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