Boeing’s research and development costs were around 3.37 billion U.S. dollars in 2023, up from approximately 2.85 billion in the previous year. TThe level of research and development expenditure was highest in 2016 and ahead of the 787 Dreamliner jet family launch. The Dreamliner is one of the company’s most important model families, trailing only the 737 series.
R&D a key factor in aerospace industry
Research and development efforts are vitally important in the aerospace industry. Boeing is constantly competing for orders with rival Airbus. Without investing in new innovations, either company would be left behind. As a result of the Dreamliner's success, Airbus rolled out the A350 model. After Boeing's worst quarter in history, the jet manufacturer is expected to incur additional research and development costs to redesign the 737. This will be necessary in order to comply with new safety standards resulting from 737 problems that led to two fatal crashes in 2018 and 2019.
Boeing's R&D expenditures from FY 2001 to FY 2023
(in million U.S. dollars)
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Boeing. (March 12, 2024). Boeing's R&D expenditures from FY 2001 to FY 2023 (in million U.S. dollars) [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/268991/expenditures-on-research-and-development-by-boeing/
Boeing. "Boeing's R&D expenditures from FY 2001 to FY 2023 (in million U.S. dollars)." Chart. March 12, 2024. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/268991/expenditures-on-research-and-development-by-boeing/
Boeing. (2024). Boeing's R&D expenditures from FY 2001 to FY 2023 (in million U.S. dollars). Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/268991/expenditures-on-research-and-development-by-boeing/
Boeing. "Boeing's R&d Expenditures from Fy 2001 to Fy 2023 (in Million U.S. Dollars)." Statista, Statista Inc., 12 Mar 2024, https://www.statista.com/statistics/268991/expenditures-on-research-and-development-by-boeing/
Boeing, Boeing's R&D expenditures from FY 2001 to FY 2023 (in million U.S. dollars) Statista, https://www.statista.com/statistics/268991/expenditures-on-research-and-development-by-boeing/ (last visited November 21, 2024)
Boeing's R&D expenditures from FY 2001 to FY 2023 (in million U.S. dollars) [Graph], Boeing, March 12, 2024. [Online]. Available: https://www.statista.com/statistics/268991/expenditures-on-research-and-development-by-boeing/
