Comparing Innovation Spending: Howmet Aerospace Inc. and CNH Industrial N.V.

Innovation Spending: A Tale of Two Giants

In the ever-evolving landscape of aerospace and industrial machinery, innovation is the key to staying ahead. Howmet Aerospace Inc. and CNH Industrial N.V. have been at the forefront of this race, investing significantly in research and development over the past decade. From 2014 to 2023, CNH Industrial N.V. consistently outspent Howmet Aerospace Inc., with R&D expenses peaking at 1.24 billion in 2021. In contrast, Howmet's highest expenditure was 169 million in 2015. Despite a 7% decline in CNH's spending from 2021 to 2022, they rebounded with a 20% increase in 2023. Meanwhile, Howmet's R&D investment saw a sharp 85% drop from 2015 to 2020, highlighting a strategic shift. This comparison underscores the diverse approaches these companies take towards innovation, reflecting their unique market challenges and opportunities.