| Industry Name | Number of firms | R&D Capitalized (my estimate in $ millions) | Capitalized R&D as % of Invested Capital | R&D - LTM (in $ millions) | Current R&D as % of Revenue | R&D - 1 year ago (in $ millions) | R&D - 2 years ago (in $ millions) | R&D - 3 years ago (in $ millions) | R&D - 4 years ago | R&D - 5 years ago (in $ millions) | CAGR in R&D - Last 5 years |
| Advertising | 54 | $ 2,708.00 | 23.58% | $ 919.16 | 2.15% | $ 915.52 | $ 897.49 | $ 875.22 | $ 839.25 | $ 752.48 | 4.08% |
| Aerospace/Defense | 67 | $ 58,976.40 | 32.77% | $ 20,157.16 | 4.08% | $ 19,670.45 | $ 19,433.94 | $ 19,081.61 | $ 18,949.35 | $ 18,422.22 | 1.82% |
| Air Transport | 24 | $ 2,585.03 | 1.95% | $ 896.51 | 0.38% | $ 879.32 | $ 852.36 | $ 809.82 | $ 748.59 | $ 716.52 | 4.58% |
| Apparel | 37 | $ 211.15 | 0.55% | $ 77.00 | 0.11% | $ 65.02 | $ 66.29 | $ 66.36 | $ 79.09 | $ 79.14 | -0.55% |
| Auto & Truck | 34 | $ 77,589.19 | 16.70% | $ 25,870.62 | 5.32% | $ 26,119.65 | $ 25,996.79 | $ 25,681.34 | $ 24,761.19 | $ 24,300.46 | 1.26% |
| Auto Parts | 33 | $ 12,476.15 | 32.08% | $ 4,208.60 | 4.58% | $ 4,176.95 | $ 4,154.06 | $ 4,120.36 | $ 3,927.06 | $ 3,726.85 | 2.46% |
| Bank (Money Center) | 15 | $ - | 0.00% | $ - | NA | $ - | $ - | $ - | $ - | $ - | NA |
| Banks (Regional) | 591 | $ - | 0.00% | $ - | NA | $ - | $ - | $ - | $ - | $ - | NA |
| Beverage (Alcoholic) | 18 | $ - | 0.00% | $ - | 0.00% | $ - | $ - | $ - | $ - | $ - | NA |
| Beverage (Soft) | 29 | $ 2,609.20 | 2.24% | $ 871.92 | 0.50% | $ 872.12 | $ 872.02 | $ 872.12 | $ 837.64 | $ 837.24 | 0.81% |
| Broadcasting | 22 | $ 8.98 | 0.01% | $ 3.00 | 0.00% | $ 3.00 | $ 3.00 | $ 3.00 | $ 2.90 | $ 2.90 | 0.68% |
| Brokerage & Investment Banking | 30 | $ 2,650.60 | 0.20% | $ 879.72 | NA | $ 886.89 | $ 884.49 | $ 886.83 | $ 879.72 | $ 851.73 | 0.65% |
| Building Materials | 39 | $ 4,561.08 | 8.00% | $ 1,600.28 | 1.28% | $ 1,549.56 | $ 1,510.24 | $ 1,409.86 | $ 1,255.34 | $ 1,257.85 | 4.93% |
| Business & Consumer Services | 152 | $ 7,982.89 | 7.65% | $ 2,997.88 | 1.15% | $ 2,993.88 | $ 2,073.42 | $ 2,013.39 | $ 2,702.49 | $ 2,633.09 | 2.63% |
| Cable TV | 9 | $ 1,284.68 | 0.43% | $ 415.00 | 0.19% | $ 425.00 | $ 436.00 | $ 432.00 | $ 476.40 | $ 456.60 | -1.89% |
| Chemical (Basic) | 31 | $ 3,563.18 | 4.54% | $ 1,190.07 | 0.98% | $ 1,178.37 | $ 1,185.42 | $ 1,197.10 | $ 1,201.65 | $ 1,197.00 | -0.12% |
| Chemical (Diversified) | 4 | $ 674.38 | 6.84% | $ 218.59 | 1.78% | $ 228.17 | $ 226.75 | $ 223.69 | $ 238.63 | $ 236.25 | -1.54% |
| Chemical (Specialty) | 60 | $ 17,248.24 | 8.79% | $ 5,672.10 | 2.73% | $ 5,818.50 | $ 5,768.60 | $ 5,804.81 | $ 5,691.31 | $ 5,771.87 | -0.35% |
| Coal & Related Energy | 16 | $ 84.63 | 1.19% | $ 26.67 | 0.34% | $ 26.71 | $ 29.28 | $ 29.67 | $ 35.76 | $ 39.49 | -7.55% |
| Computer Services | 63 | $ 22,728.63 | 34.18% | $ 7,799.42 | 2.37% | $ 7,607.80 | $ 7,454.24 | $ 7,332.76 | $ 7,186.58 | $ 7,116.14 | 1.85% |
| Computers/Peripherals | 35 | $ 128,234.32 | 71.27% | $ 43,613.25 | 7.01% | $ 43,029.50 | $ 42,054.64 | $ 41,585.61 | $ 41,652.22 | $ 41,106.83 | 1.19% |
| Construction Supplies | 46 | $ 15,914.72 | 10.81% | $ 5,279.43 | 2.49% | $ 5,332.23 | $ 5,357.82 | $ 5,319.82 | $ 5,134.42 | $ 5,057.92 | 0.86% |
| Diversified | 21 | $ 9,740.53 | 1.42% | $ 3,276.46 | 0.71% | $ 3,266.96 | $ 3,279.18 | $ 3,319.95 | $ 2,775.09 | $ 2,991.52 | 1.84% |
| Drugs (Biotechnology) | 535 | $ 272,106.64 | 101.34% | $ 96,873.15 | 48.21% | $ 92,676.19 | $ 86,955.69 | $ 81,594.76 | $ 81,406.10 | $ 79,584.61 | 4.01% |
| Drugs (Pharmaceutical) | 231 | $ 285,201.44 | 81.26% | $ 98,124.33 | 27.20% | $ 93,525.20 | $ 101,827.76 | $ 88,116.34 | $ 79,568.81 | $ 77,232.72 | 4.90% |
| Education | 29 | $ 2,271.58 | 17.14% | $ 772.15 | 3.35% | $ 764.95 | $ 737.84 | $ 741.47 | $ 740.89 | $ 722.96 | 1.33% |
| Electrical Equipment | 101 | $ 14,433.73 | 19.66% | $ 4,980.79 | 3.97% | $ 4,747.66 | $ 4,735.13 | $ 4,701.73 | $ 4,665.24 | $ 4,431.74 | 2.36% |
| Electronics (Consumer & Office) | 11 | $ 1,548.69 | 203.79% | $ 521.40 | 15.91% | $ 513.96 | $ 515.00 | $ 516.91 | $ 501.82 | $ 504.63 | 0.66% |
| Electronics (General) | 122 | $ 20,983.11 | 29.12% | $ 7,062.81 | 4.60% | $ 6,988.21 | $ 6,967.89 | $ 6,950.98 | $ 6,843.03 | $ 6,827.10 | 0.68% |
| Engineering/Construction | 42 | $ 163.20 | 0.42% | $ 55.00 | 0.04% | $ 55.00 | $ 55.00 | $ 55.00 | $ 46.00 | $ 46.00 | 3.64% |
| Entertainment | 96 | $ 25,853.03 | 12.66% | $ 8,743.51 | 3.48% | $ 8,657.12 | $ 8,550.15 | $ 8,457.56 | $ 8,353.58 | $ 8,171.76 | 1.36% |
| Environmental & Waste Services | 50 | $ 956.93 | 2.70% | $ 332.02 | 0.45% | $ 319.01 | $ 312.01 | $ 306.70 | $ 299.11 | $ 292.10 | 2.60% |
| Farming/Agriculture | 35 | $ 10,319.47 | 6.89% | $ 3,464.64 | 1.51% | $ 3,465.27 | $ 3,430.04 | $ 3,408.78 | $ 3,305.41 | $ 3,222.91 | 1.46% |
| Financial Svcs. (Non-bank & Insurance) | 166 | $ 34,087.88 | 0.41% | $ 11,489.43 | 2.07% | $ 11,339.34 | $ 11,285.44 | $ 11,198.70 | $ 11,381.17 | $ 11,441.49 | 0.08% |
| Food Processing | 77 | $ 5,772.64 | 3.37% | $ 1,944.51 | 0.68% | $ 1,940.69 | $ 1,941.97 | $ 1,923.65 | $ 1,704.73 | $ 1,695.91 | 2.77% |
| Food Wholesalers | 14 | $ - | 0.00% | $ - | 0.00% | $ - | $ - | $ - | $ - | $ - | NA |
| Furn/Home Furnishings | 28 | $ 3,260.88 | 11.64% | $ 1,105.95 | 2.01% | $ 1,090.38 | $ 1,076.41 | $ 1,064.80 | $ 1,054.29 | $ 1,052.25 | 1.00% |
| Green & Renewable Energy | 18 | $ 26.51 | 0.05% | $ 8.77 | 0.11% | $ 7.61 | $ 8.18 | $ 8.02 | $ 17.65 | $ 17.70 | -13.10% |
| Healthcare Products | 218 | $ 58,643.17 | 30.09% | $ 19,707.66 | 8.02% | $ 19,643.18 | $ 19,453.72 | $ 19,272.71 | $ 19,198.27 | $ 19,000.20 | 0.73% |
| Healthcare Support Services | 113 | $ 4,456.04 | 1.77% | $ 1,463.66 | 0.06% | $ 1,462.03 | $ 1,472.56 | $ 1,553.66 | $ 1,588.78 | $ 1,534.87 | -0.95% |
| Heathcare Information and Technology | 116 | $ 30,111.38 | 24.32% | $ 10,072.00 | 6.70% | $ 10,099.12 | $ 10,002.98 | $ 10,012.68 | $ 9,766.16 | $ 9,795.17 | 0.56% |
| Homebuilding | 30 | $ - | 0.00% | $ - | 0.00% | $ - | $ - | $ - | $ - | $ - | NA |
| Hospitals/Healthcare Facilities | 33 | $ 244.54 | 0.26% | $ 81.39 | 0.05% | $ 81.21 | $ 80.92 | $ 80.94 | $ 86.30 | $ 86.35 | -1.18% |
| Hotel/Gaming | 65 | $ 15,229.94 | 6.59% | $ 5,135.47 | 2.37% | $ 5,065.81 | $ 5,062.31 | $ 5,021.74 | $ 4,978.67 | $ 4,914.62 | 0.88% |
| Household Products | 101 | $ 12,563.75 | 12.84% | $ 4,222.65 | 1.95% | $ 4,196.90 | $ 4,159.25 | $ 4,161.37 | $ 4,117.40 | $ 4,148.20 | 0.36% |
| Information Services | 16 | $ 2,224.78 | 13.57% | $ 760.80 | 1.94% | $ 741.10 | $ 729.73 | $ 725.88 | $ 714.56 | $ 704.48 | 1.55% |
| Insurance (General) | 22 | $ 323.98 | 0.42% | $ 107.29 | 0.11% | $ 108.54 | $ 110.31 | $ 107.32 | $ 103.72 | $ 101.83 | 1.05% |
| Insurance (Life) | 19 | $ - | 0.00% | $ - | 0.00% | $ - | $ - | $ - | $ - | $ - | NA |
| Insurance (Prop/Cas.) | 53 | $ - | 0.00% | $ - | 0.00% | $ - | $ - | $ - | $ - | $ - | NA |
| Investments & Asset Management | 231 | $ 2,382.43 | 0.55% | $ 830.27 | 0.49% | $ 797.78 | $ 779.46 | $ 751.76 | $ 727.81 | $ 726.33 | 2.71% |
| Machinery | 109 | $ 12,479.73 | 12.22% | $ 4,133.08 | 2.16% | $ 4,199.45 | $ 4,191.46 | $ 4,165.34 | $ 4,030.44 | $ 4,007.11 | 0.62% |
| Metals & Mining | 64 | $ 325.63 | 0.52% | $ 115.43 | 0.20% | $ 108.85 | $ 104.50 | $ 103.43 | $ 95.26 | $ 91.12 | 4.84% |
| Office Equipment & Services | 14 | $ 1,082.06 | 12.59% | $ 360.67 | 1.99% | $ 362.03 | $ 358.05 | $ 366.64 | $ 351.42 | $ 351.53 | 0.51% |
| Oil/Gas (Integrated) | 4 | $ 3,575.60 | 0.67% | $ 1,199.00 | 0.21% | $ 1,199.00 | $ 1,199.00 | $ 1,199.00 | $ 1,092.00 | $ 1,092.00 | 1.89% |
| Oil/Gas (Production and Exploration) | 147 | $ 353.78 | 0.08% | $ 121.99 | 0.06% | $ 120.39 | $ 117.00 | $ 112.70 | $ 101.00 | $ 100.90 | 3.87% |
| Oil/Gas Distribution | 24 | $ 26.36 | 0.01% | $ 11.02 | 0.01% | $ 9.75 | $ 7.76 | $ 5.71 | $ 3.02 | $ 3.07 | 29.13% |
| Oilfield Svcs/Equip. | 97 | $ 6,436.91 | 2.57% | $ 2,172.74 | 0.30% | $ 2,170.06 | $ 2,143.57 | $ 2,127.98 | $ 1,954.02 | $ 1,922.35 | 2.48% |
| Packaging & Container | 22 | $ 2,072.06 | 2.94% | $ 681.26 | 0.55% | $ 696.26 | $ 697.26 | $ 695.26 | $ 686.67 | $ 674.67 | 0.19% |
| Paper/Forest Products | 6 | $ 22.80 | 0.45% | $ 8.00 | 0.07% | $ 8.00 | $ 8.00 | $ 8.00 | $ 2.00 | $ 2.00 | 31.95% |
| Power | 48 | $ 1,108.54 | 0.10% | $ 366.38 | 0.10% | $ 379.02 | $ 363.10 | $ 368.31 | $ 368.81 | $ 351.81 | 0.81% |
| Precious Metals | 60 | $ 668.36 | 1.31% | $ 225.91 | 0.85% | $ 231.19 | $ 225.47 | $ 206.63 | $ 197.82 | $ 223.26 | 0.24% |
| Publishing & Newspapers | 19 | $ 995.07 | 8.08% | $ 337.81 | 1.30% | $ 333.25 | $ 328.42 | $ 322.75 | $ 322.54 | $ 315.83 | 1.35% |
| R.E.I.T. | 192 | $ 57.93 | 0.00% | $ 21.05 | 0.01% | $ 20.62 | $ 17.76 | $ 17.28 | $ 14.10 | $ 13.70 | 8.97% |
| Real Estate (Development) | 15 | $ - | 0.00% | $ - | 0.00% | $ - | $ - | $ - | $ - | $ - | NA |
| Real Estate (General/Diversified) | 11 | $ - | 0.00% | $ - | 0.00% | $ - | $ - | $ - | $ - | $ - | NA |
| Real Estate (Operations & Services) | 60 | $ 4,945.57 | 11.22% | $ 1,689.93 | 1.85% | $ 1,676.97 | $ 1,652.52 | $ 1,525.46 | $ 1,561.83 | $ 1,556.46 | 1.66% |
| Recreation | 50 | $ 5,036.61 | 10.57% | $ 1,660.92 | 2.93% | $ 1,670.01 | $ 1,683.72 | $ 1,714.34 | $ 1,718.58 | $ 1,744.05 | -0.97% |
| Reinsurance | 1 | $ - | 0.00% | $ - | 0.00% | $ - | $ - | $ - | $ - | $ - | NA |
| Restaurant/Dining | 62 | $ 3,408.66 | 3.13% | $ 1,198.70 | 0.71% | $ 1,145.70 | $ 1,091.00 | $ 1,016.45 | $ 1,161.10 | $ 1,044.50 | 2.79% |
| Retail (Automotive) | 29 | $ (90.77) | -0.07% | $ (40.28) | -0.01% | $ (36.59) | $ (32.32) | $ (28.26) | $ 47.40 | $ 37.77 | -201.30% |
| Retail (Building Supply) | 13 | $ 1,349.52 | 1.64% | $ 448.80 | 0.17% | $ 452.30 | $ 456.60 | $ 459.60 | $ 405.40 | $ 408.50 | 1.90% |
| Retail (Distributors) | 66 | $ 134.91 | 0.10% | $ 49.11 | 0.02% | $ 46.07 | $ 42.26 | $ 39.81 | $ 38.33 | $ 36.86 | 5.91% |
| Retail (General) | 24 | $ 262,654.22 | 45.92% | $ 87,968.60 | 4.68% | $ 87,413.40 | $ 87,507.30 | $ 88,004.30 | $ 85,244.00 | $ 84,018.00 | 0.92% |
| Retail (Grocery and Food) | 17 | $ 5,297.30 | 9.11% | $ 657.50 | 0.24% | $ 2,355.00 | $ 2,300.00 | $ 2,312.00 | $ 2,255.00 | $ 532.00 | 4.33% |
| Retail (REITs) | 28 | $ 13.30 | 0.01% | $ 4.50 | 0.02% | $ 4.50 | $ 4.50 | $ 4.50 | $ 3.50 | $ 3.50 | 5.15% |
| Retail (Special Lines) | 98 | $ 1,873.98 | 1.39% | $ 653.38 | 0.14% | $ 610.55 | $ 612.55 | $ 608.21 | $ 606.75 | $ 544.58 | 3.71% |
| Rubber& Tires | 3 | $ 1,391.00 | 10.45% | $ 461.00 | 2.42% | $ 461.00 | $ 461.00 | $ 461.00 | $ 501.00 | $ 501.00 | -1.65% |
| Semiconductor | 63 | $ 202,657.63 | 47.70% | $ 70,855.90 | 18.21% | $ 68,289.88 | $ 65,744.29 | $ 63,293.58 | $ 62,029.16 | $ 61,569.04 | 2.85% |
| Semiconductor Equip | 30 | $ 26,598.60 | 52.39% | $ 9,121.06 | 11.42% | $ 8,874.27 | $ 8,726.04 | $ 8,640.08 | $ 8,432.29 | $ 8,334.72 | 1.82% |
| Shipbuilding & Marine | 8 | $ - | 0.00% | $ - | 0.00% | $ - | $ - | $ - | $ - | $ - | NA |
| Shoe | 12 | $ 225.04 | 0.79% | $ 77.10 | 0.11% | $ 77.10 | $ 77.10 | $ 66.60 | $ 66.80 | $ 66.80 | 2.91% |
| Software (Entertainment) | 81 | $ 281,052.44 | 61.31% | $ 97,237.21 | 18.10% | $ 94,049.15 | $ 91,610.40 | $ 90,179.87 | $ 87,688.59 | $ 86,640.59 | 2.33% |
| Software (Internet) | 29 | $ 18,503.42 | 84.32% | $ 6,434.22 | 21.46% | $ 6,239.58 | $ 6,069.27 | $ 5,869.62 | $ 5,440.65 | $ 5,280.86 | 4.03% |
| Software (System & Application) | 333 | $ 275,140.32 | 66.59% | $ 95,068.71 | 16.86% | $ 92,692.55 | $ 89,732.77 | $ 87,665.64 | $ 85,058.33 | $ 84,003.29 | 2.51% |
| Steel | 27 | $ 142.84 | 0.17% | $ 48.36 | 0.03% | $ 48.36 | $ 47.16 | $ 47.16 | $ 43.12 | $ 43.12 | 2.32% |
| Telecom (Wireless) | 11 | $ 153.01 | 0.09% | $ 52.49 | 0.06% | $ 51.84 | $ 50.46 | $ 48.89 | $ 46.08 | $ 44.36 | 3.42% |
| Telecom. Equipment | 61 | $ 46,396.44 | 101.91% | $ 15,815.58 | 14.85% | $ 15,418.57 | $ 15,229.29 | $ 15,276.71 | $ 14,988.72 | $ 14,872.73 | 1.24% |
| Telecom. Services | 32 | $ 3,846.77 | 0.78% | $ 1,273.14 | 0.45% | $ 1,256.97 | $ 1,247.03 | $ 1,271.51 | $ 1,556.16 | $ 1,536.99 | -3.70% |
| Tobacco | 12 | $ 2,825.84 | 7.50% | $ 938.50 | 1.49% | $ 944.01 | $ 938.36 | $ 935.46 | $ 974.63 | $ 909.29 | 0.63% |
| Transportation | 21 | $ 10,937.04 | 6.94% | $ 3,564.60 | 1.21% | $ 3,590.08 | $ 3,692.63 | $ 3,772.10 | $ 3,879.76 | $ 3,960.13 | -2.08% |
| Transportation (Railroads) | 4 | $ - | 0.00% | $ - | 0.00% | $ - | $ - | $ - | $ - | $ - | NA |
| Trucking | 24 | $ 833.80 | 1.40% | $ 201.24 | 0.23% | $ 274.74 | $ 323.64 | $ 356.74 | $ 379.53 | $ 357.73 | -10.87% |
| Utility (General) | 14 | $ - | 0.00% | $ - | 0.00% | $ - | $ - | $ - | $ - | $ - | NA |
| Utility (Water) | 15 | $ 11.02 | 0.03% | $ 5.35 | 0.06% | $ 4.17 | $ 2.99 | $ 0.72 | $ 1.24 | $ 2.60 | 15.53% |
| Total Market | 6062 | $ 2,359,541.04 | 8.35% | $ 809,032.39 | 3.72% | $ 790,779.86 | $ 781,817.63 | $ 755,039.85 | $ 733,891.20 | $ 721,008.84 | 2.33% |
| Total Market (without financials) | 4935 | $ 2,320,096.14 | 16.07% | $ 795,725.68 | 3.92% | $ 777,647.31 | $ 768,757.94 | $ 742,095.24 | $ 720,798.78 | $ 707,887.47 | 2.37% |