Research and Development Investment: Honeywell International Inc. vs 3M Company

A Decade of Innovation: R&D Investments by Honeywell and 3M

In the ever-evolving landscape of industrial innovation, research and development (R&D) investments are pivotal. Over the past decade, Honeywell International Inc. and 3M Company have been at the forefront of this innovation race. From 2014 to 2023, Honeywell's R&D spending peaked in 2014, with a notable investment of approximately $2.93 billion. However, by 2023, this figure had decreased by nearly 50%, reflecting a strategic shift or market adaptation.

Conversely, 3M's R&D investments have shown remarkable consistency, with a slight increase of about 10% from 2014 to 2023. This steady commitment underscores 3M's dedication to innovation, even amidst economic fluctuations. Notably, 2024 data for Honeywell is missing, indicating potential strategic changes or reporting delays.

These trends highlight the dynamic nature of R&D investments and their critical role in shaping the future of industrial giants like Honeywell and 3M.