In 2023, the US government allocated approximately USD 208.5 billion for R&D. Projecting forward, there is a steady increase in budget allocations forecasted: USD 220.63 billion in 2024 and up to USD 272.73 billion by 2028. Year-on-year growth is significant, particularly from 2027 to 2028, displaying clear investment enthusiasm in progressive innovation. Between 2024 and 2028, the compounded annual growth rate (CAGR) is consistent, highlighting the strategic push towards expanding research and development capabilities.
Future trends to watch include increased investments in emerging technologies such as AI, biotechnology, and renewable energy sectors, driven by policy priorities and global competitiveness pressures.
