In 2023, the Business Enterprise R&D expenditure in the US for fabricated metal products (excluding machinery and equipment) stood at $6.50 billion. Starting in 2024, we expect an annual growth ranging from approximately 11.2% in the first year, stabilizing with increases to 2028, reflecting an overall CAGR of about 8.6%. The forecast indicates a steady upward trajectory, showcasing a robust investment in R&D within this sector.

Future trends to watch include:

Increased demand for advanced metal fabrication technologies driven by industrial upgrades.
Influence of sustainability and green technologies on R&D expenditure priorities.
Potential impact of policy changes and trade dynamics on industry investment strategies.