As of 2023, the actual government expenditure on R&D in the US stood at approximately 69.6 billion USD PPP. Forecasted figures indicate a steady increase from 2024 to 2028, with expenditures rising yearly. The growth from 2023 to 2024 is about 1.95%, with subsequent annual growth rates of approximately 1.90% to 1.97% per year, stabilizing in this range. This leads to a projected compound annual growth rate (CAGR) of about 1.89% for the 2023-2028 period.
Future trends to watch for include:
- Potential policy shifts that could impact funding levels, either positively or negatively.
- Technological advancements and emerging sectors that could redirect funding priorities within R&D.
- Economic conditions influencing overall government budgetary allocations towards innovation.
