Research and Development Investment: RTX Corporation vs 3M Company

A Decade of Innovation: R&D Investments by RTX Corporation and 3M Company

In the ever-evolving landscape of technology and manufacturing, research and development (R&D) investments are pivotal. Over the past decade, RTX Corporation and 3M Company have demonstrated their commitment to innovation through substantial R&D expenditures. From 2014 to 2023, RTX Corporation consistently outpaced 3M, with an average annual investment of approximately $2.6 billion, compared to 3M's $1.8 billion. Notably, RTX's R&D spending peaked in 2019, reaching nearly $3 billion, a 30% increase from 2014. Meanwhile, 3M's highest investment occurred in 2021, with a 13% rise from its 2014 figures. This trend underscores RTX's aggressive strategy in advancing aerospace and defense technologies, while 3M continues to innovate in diverse sectors, including healthcare and consumer goods. As we look to 2024, RTX's projected R&D spending suggests a continued focus on cutting-edge advancements, despite economic uncertainties.