Deere and Company, spent about 2.2 billion U.S. dollars on research and development in 2023. This represents an increase compared to the nearly 1.9 billion U.S. dollars spent the previous year. Investments into new, advanced products were partially responsible for the higher R&D expenses. Deere & Co. is among the largest farm machinery manufaturers worldwide.
Disruptions to John Deere’s operations
Research and development spending is important for any company involved in the production of agricultural technology. Changing laws and regulations on fuel-use is one reason John Deere must invest in developing new diesel engines. Research and development spending at manufacturing companies often come at times that markets are expected to be disrupted. Emerging trends such as smart agriculture allow businesses to create new products that have an edge over competitor products and encourage consumers to buy at times of limited spending. International trade disputes on agricultural products and changes in global food demand are likely to disrupt agricultural industries, including equipment manufacturing.
John Deere's (Deere & Company's) R&D spending from FY 2012 to FY 2023
(in million U.S. dollars)
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Deere & Company. (December 15, 2023). John Deere's (Deere & Company's) R&D spending from FY 2012 to FY 2023 (in million U.S. dollars) [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/466569/research-and-development-spending-of-john-deere/
Deere & Company. "John Deere's (Deere & Company's) R&D spending from FY 2012 to FY 2023 (in million U.S. dollars)." Chart. December 15, 2023. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/466569/research-and-development-spending-of-john-deere/
Deere & Company. (2023). John Deere's (Deere & Company's) R&D spending from FY 2012 to FY 2023 (in million U.S. dollars). Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/466569/research-and-development-spending-of-john-deere/
Deere & Company. "John Deere's (Deere & Company's) R&d Spending from Fy 2012 to Fy 2023 (in Million U.S. Dollars)." Statista, Statista Inc., 15 Dec 2023, https://www.statista.com/statistics/466569/research-and-development-spending-of-john-deere/
Deere & Company, John Deere's (Deere & Company's) R&D spending from FY 2012 to FY 2023 (in million U.S. dollars) Statista, https://www.statista.com/statistics/466569/research-and-development-spending-of-john-deere/ (last visited November 21, 2024)
John Deere's (Deere & Company's) R&D spending from FY 2012 to FY 2023 (in million U.S. dollars) [Graph], Deere & Company, December 15, 2023. [Online]. Available: https://www.statista.com/statistics/466569/research-and-development-spending-of-john-deere/
