Special Report: R&D '04
Page 7 of 7
| The Business of Innovation: When factors like R&D growth are taken into account, the biotech, pharmaceutical, and technology sectors rank highly. But when it comes to pure budget size, industrial conglomerates and transportation companies are tops. | ||||||
| Industry sector | Average rank by Innovation Index | Number of companies in the top 2003 R&D spenders | Average R&D 2003 ($Mil) | Average R&D percent change | Average absolute change in R&D spending ($Mil) | Average R&D as a percent of sales |
| Biotechnology | 22 | $3 | $917 | 28% | $225 | 21% |
| Computer software | 41 | $7 | $1,341 | 11% | $111 | 18% |
| Pharmaceuticals/ medical devices | 48 | $28 | $2,045 | 9% | $176 | 14% |
| Semiconductors | 50 | $10 | $1,318 | 1% | $41 | 22% |
| Transportation | 72 | $26 | $2,273 | 5% | $72 | 5% |
| Computer hardware | 81 | $9 | $2,251 | 0% | $4 | 7% |
| Heavy machinery | 84 | $5 | $663 | 9% | $58 | 5% |
| Electronics/ electrical | 90 | $19 | $1,616 | 0% | $11 | 6% |
| Aerospace and defense | 93 | $8 | $1,369 | 1% | $29 | 6% |
| Telecom- munications | 100 | $13 | $2,156 | -10% | ($269) | 11% |
| Chemicals | 104 | $10 | $1,083 | -1% | ($19) | 6% |
| Consumer products | 108 | $5 | $1,043 | 2% | $6 | 2% |
| Industrial conglomerates | 109 | $4 | $2,490 | -3% | ($241) | 4% |
| Energy | 112 | $3 | $586 | 2% | $2 | 2% |
| Source: Standard & Poor’s, Technology Review | ||||||
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