Comparing Innovation Spending: Honeywell International Inc. and CNH Industrial N.V.

Innovation Spending: A Tale of Two Giants

In the ever-evolving landscape of industrial innovation, Honeywell International Inc. and CNH Industrial N.V. stand as titans. Over the past decade, these companies have consistently invested in research and development (R&D) to maintain their competitive edge. From 2014 to 2023, Honeywell's R&D expenses have shown a notable decline of approximately 50%, from a peak of $2.9 billion in 2014 to $1.5 billion in 2023. Meanwhile, CNH Industrial's spending has been more stable, with a slight decrease of around 6% over the same period, maintaining an average of $994 million annually.

This trend highlights Honeywell's strategic shift towards optimizing its innovation budget, while CNH Industrial remains committed to steady investment. As the industrial sector continues to innovate, these spending patterns offer a glimpse into the strategic priorities of these global leaders.