Comparing Innovation Spending: ITT Inc. and Allegion plc

Innovation Spending: A Tale of Two Companies

In the ever-evolving landscape of industrial technology, innovation is the key to staying ahead. ITT Inc. and Allegion plc, two giants in the sector, have shown distinct approaches to research and development (R&D) over the past decade. From 2014 to 2023, ITT Inc. consistently outpaced Allegion in R&D spending, with an average annual increase of 18%. By 2023, both companies reached a milestone, each investing over $100 million in R&D. Notably, Allegion's R&D expenses surged by 135% from 2014 to 2023, reflecting a strategic pivot towards innovation. This trend underscores the growing importance of R&D in maintaining competitive advantage. As the industry continues to evolve, these investments will likely play a crucial role in shaping the future of industrial technology.