Research and Development Investment: Cummins Inc. vs Stanley Black & Decker, Inc.

A Decade of Innovation: Cummins Inc. vs Stanley Black & Decker, Inc.

In the ever-evolving landscape of industrial innovation, research and development (R&D) investments are pivotal. Over the past decade, Cummins Inc. has consistently outpaced Stanley Black & Decker, Inc. in R&D spending. From 2014 to 2023, Cummins Inc. increased its R&D investment by nearly 100%, reaching a peak in 2023. In contrast, Stanley Black & Decker, Inc. saw a more modest growth of around 107% over the same period.

Cummins Inc.'s commitment to innovation is evident, with its R&D expenses growing from approximately 754 million in 2014 to 1.5 billion in 2023. Meanwhile, Stanley Black & Decker, Inc. increased its R&D spending from 175 million to 362 million. This strategic focus on R&D underscores the importance of innovation in maintaining competitive advantage in the industrial sector.