The UK higher education expenditure on R&D in engineering and technology is poised for steady growth. The forecasts show an increase from 1.36 billion pounds in 2024 to 1.42 billion in 2028. For context, this expenditure was 1.34 billion pounds in 2023. The year-on-year growth from 2023 is expected to range between 1.47% to 1.42% up to 2028, with a compounded annual growth rate of approximately 1.43% over the five-year period.
Future trends to watch for:
- Expansion in innovative engineering projects enhancing the R&D value.
- Government policies affecting educational funding.
- Collaborations between universities and industries to amplify research budgets.
