Saturday, February 4, 2023

Research and Development: United States, the leader

America Became a world leader in research and development (R&D) in the 20th century, funding up to 69% of annual global R&D in the post-CI period WWII According to an analysis by the US Congress.

Thus, US R&D in 2020 was 83 times higher in current dollars than it was in 1956, and 11 times higher in constant dollars.

By sector, R&D funded by companies was the one that grew the most during this period.

However, a sharp increase in total R&D spending from other countries reduced the US share of global R&D to about 30.7% in 2020.

The two sectors – business and the federal government – ​​have jointly accounted for more than 90% of US R&D funding since 1955, although their combined share has declined from a peak of 98% in 1956 to 93% in 2016.

Federal spending on research and development as a percentage of total US R&D spending peaked at 66.8 percent in 1964, the same year business R&D spending reached its lowest point at 30.8 percent.

Between 1964 and 2000, the federal government’s share decreased and that of business increased.

research and development

In 2000, companies contributed 69.4% of US spending on R&D, and the federal government 25.1%.

This change in the structure of R&D funding was not due to a decrease in R&D spending by the federal government, but rather a rapid increase in R&D spending by companies.

From 2000 to 2010, the percentage of business R&D declined from 69.4 to 61.0%, and has increased every year since then, reaching an all-time high of 73.1% in 2020; From 2010 to 2020, the federal percentage decreased from 31.1 to 19.5 percent.

In current dollars, federal R&D funding increased from $3.5 billion in 1955 to $137.8 billion in 2020, representing a compound annual growth rate (CAGR) of 5.3 percent.

In constant dollars, federal R&D grew at a CAGR of 2.1% during this period.

However, between 2011 and 2014, federal funding for I + d, measured in current dollars, fell for three consecutive years for the first time since these figures were collected; The total decrease in federal funding over these years was $8.6 billion (6.8 percent).

Nation World News Desk
Nation World News Deskhttps://nationworldnews.com
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