Strategic Focus on R&D: Deere & Company vs. Cummins Inc.

In the competitive landscape of industrial innovation, research and development (R&D) spending is a key indicator of a company's commitment to future growth. Over the past decade, Deere & Company and Cummins Inc. have demonstrated distinct strategies in their R&D investments. From 2014 to 2023, Deere & Company consistently outpaced Cummins Inc., with R&D expenses growing by approximately 50%, reaching a peak in 2023. In contrast, Cummins Inc. showed a more gradual increase, with a notable 100% rise in R&D spending over the same period. This strategic focus highlights Deere's aggressive push towards innovation, while Cummins maintains a steady, albeit slower, growth trajectory. The data for 2024 is incomplete, but Deere's trend suggests continued investment. These insights underscore the importance of R&D in maintaining competitive advantage in the industrial sector.