Comparing Innovation Spending: Howmet Aerospace Inc. and ITT Inc.

Innovation Spending: A Tale of Two Companies

In the ever-evolving aerospace and engineering sectors, innovation is the lifeblood of progress. Howmet Aerospace Inc. and ITT Inc. have been at the forefront of this innovation race. From 2014 to 2023, these companies have shown distinct trends in their research and development (R&D) spending.

Howmet Aerospace Inc.

Howmet Aerospace Inc. saw a significant decline in R&D expenses, dropping from a peak in 2015 to a low in 2020. This represents a staggering 90% decrease over five years. However, a slight recovery is evident in 2022 and 2023, indicating a renewed focus on innovation.

ITT Inc.

Conversely, ITT Inc. maintained a steady increase in R&D spending, culminating in a 34% rise from 2014 to 2023. This consistent investment underscores ITT's commitment to staying ahead in the competitive engineering landscape.

These contrasting strategies highlight the diverse approaches companies take in navigating the challenges of technological advancement.