R&D Spending Showdown: Parker-Hannifin Corporation vs ITT Inc.

R&D Spending Trends: A Decade of Innovation

In the competitive landscape of industrial innovation, Parker-Hannifin Corporation and ITT Inc. have been pivotal players. Over the past decade, Parker-Hannifin has consistently outpaced ITT Inc. in research and development (R&D) spending, investing nearly three times more on average. This commitment to innovation is evident in their 2014 peak, where Parker-Hannifin's R&D expenses were approximately 435% higher than ITT Inc.'s. However, both companies have shown fluctuations in their spending patterns. Notably, ITT Inc. increased its R&D investment by about 34% from 2014 to 2023, while Parker-Hannifin's spending saw a decline of around 37% over the same period. The data for 2024 is incomplete, but Parker-Hannifin's projected spending suggests a potential rebound. These trends highlight the dynamic nature of R&D investments and their critical role in driving industrial innovation.