Snap-on Incorporated vs CNH Industrial N.V.: Strategic Focus on R&D Spending

Strategic R&D Investments: A Tale of Two Companies

In the competitive landscape of industrial manufacturing, research and development (R&D) spending is a critical driver of innovation and growth. Over the past decade, CNH Industrial N.V. and Snap-on Incorporated have demonstrated contrasting strategies in their R&D investments.

From 2014 to 2023, CNH Industrial consistently allocated a significant portion of its resources to R&D, with expenditures peaking in 2021 at approximately 1.24 billion USD. This represents a 12% increase from their 2014 spending. In contrast, Snap-on Incorporated maintained a more conservative approach, with R&D expenses hovering around 60 million USD annually, showing a modest 2% growth over the same period.

These figures highlight CNH Industrial's aggressive pursuit of innovation, while Snap-on's steady investment reflects a more cautious strategy. As the industry evolves, these strategic choices will likely influence each company's competitive positioning and market success.