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| Products/Services Breakdown | |
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| Financial Metrics | |
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| Salary & Compensation Statistics | |
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| Public Company Information | |
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2023 U.S. Industry Statistics & Market Forecast - Research & Development in the Physical, Engineering & Life Sciences
Market Size & Industry Statistics
The total U.S. industry market size for Research & Development in the Physical, Engineering & Life Sciences:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2017 2018 2019 2020 2021 2022 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year / six-year demand forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|
| Market Forecast ($ millions) | ||||||
| Projected Industry Growth Rate (%) | ||||||
Industry Insights
The Research & Development (R&D) in the Physical, Engineering & Life Sciences industry is currently witness several trends that are expected to shape the industry's future in years to come.One major trend is the increasing focus on artificial intelligence (AI) and machine learning (ML) for the development of new products and processes. The use of AI and ML enables researchers to process large volumes of complex data more efficiently, leading to faster and more accurate results. This trend is particularly important in the life sciences where AI and ML can aid in drug discovery and the development of new therapies.
Another trend affecting the industry is the increasing importance of sustainability, which is driving R&D efforts towards developing eco-friendly products and reducing waste. This trend is evident in industries such as materials science, where researchers are developing new materials that can be recycled and reused.
The digitization of R&D processes is also a trend that is gaining momentum. This involves the use of digital tools such as virtual reality, simulation, and robotics to enhance the efficiency and accuracy of R&D processes. This trend is particularly important in engineering and physical sciences where new products can be tested and refined in a virtual environment before being manufactured.
Lastly, R&D in the physical, engineering, and life sciences industry is also influenced by the increasing demand for personalized medicine, driven by advances in genomics and personalized diagnostics. This trend is leading to the development of new technologies that allow for more precise and effective diagnosis and treatment of illness.
In conclusion, these trends are shaping the future of R&D in the Physical, Engineering & Life Sciences industry, and businesses will need to adapt their strategies to stay ahead of the curve.
Product & Services Breakdown
Research products and services in the Research & Development in the Physical, Engineering & Life Sciences industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Basic And Applied Research In The Physical And Engineering Sciences |
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Basic And Applied Research In - Chemistry And Chemical Engineering |
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Basic And Applied Research In - Computer, Electrical, And Electronic Engineering |
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Basic And Applied Research In - Earth And Environmental Sciences |
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Basic And Applied Research In - Material, Mechanical, And Industrial Engineering |
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Basic And Applied Research In - Physics |
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Basic And Applied Research In - Astronomy |
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Basic And Applied Research In - Other Physical Sciences, Including Math, And Other Natural And Exact Sciences (Exclude Biologica |
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Basic And Applied Research In - Other Engineering Sciences, Including Civil, Construction, And Other Engineering |
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Computer Systems Design, Development, And Integration Services |
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Testing Services (Physical Or Product), Excluding Medical And Veterinary Services |
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Basic And Applied Research In Biotechnology |
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Basic And Applied Research In The Life Sciences (Exclude Biotechnology.) |
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Basic And Applied Research In - Pharmacology And Pharmaceutical Sciences |
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Basic And Applied Research In - Medical And Health Sciences |
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Basic And Applied Research In - Biological Science |
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Basic And Applied Research In - Agriculture, Forestry, And Allied Sciences |
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Basic And Applied Research In - Animal Production, Fisheries, And Veterinary Sciences |
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Basic And Applied Research In - Other Life Sciences, Excluding Biotechnology |
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Basic And Applied Research In The Social Sciences And Humanities |
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Basic And Applied Research In - Education |
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Development Services For Goods |
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Development Services For Service Products Processes, Systems, Or Methods |
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Outright Sale Of Original Works Of Intellectual Property |
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Advisory And Consulting Services For Research And Development Activities |
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Engineering Services |
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Licensing Of Rights To Use Intellectual Property |
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Licensing Of Rights To Use Intellectual Property Protected By Copyright |
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Licensing Of Rights To Use Intellectual Property Protected As Industrial Property |
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Resale Of Merchandise |
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All Other Receipts |
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All Other Operating Receipts |
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Contributions, Gifts, And Grants - Government |
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Contributions, Gifts, And Grants - Private |
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Investment Income, Including Interest And Dividends |
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All Other Revenue |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) | |
|---|---|---|
| Total Revenue | Order at top of page |
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| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Research & Development in the Physical, Engineering & Life Sciences company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Research & Development in the Physical, Engineering & Life Sciences industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Research & Development in the Physical, Engineering & Life Sciences measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
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| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 19% | Order at top of page |
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| Chief Executives | 1% | |||
| General and Operations Managers | 4% | |||
| Operations Specialties Managers | 5% | |||
| Other Management Occupations | 8% | |||
| Business and Financial Operations Occupations | 11% | |||
| Business Operations Specialists | 9% | |||
| Computer and Mathematical Occupations | 15% | |||
| Computer Occupations | 12% | |||
| Software and Web Developers, Programmers, and Testers | 7% | |||
| Software Developers | 5% | |||
| Architecture and Engineering Occupations | 15% | |||
| Engineers | 12% | |||
| Life, Physical, and Social Science Occupations | 22% | |||
| Life Scientists | 11% | |||
| Biological Scientists | 5% | |||
| Medical Scientists | 5% | |||
| Medical Scientists, Except Epidemiologists | 5% | |||
| Life, Physical, and Social Science Technicians | 6% | |||
| Office and Administrative Support Occupations | 6% | |||
Research & Development in the Physical, Engineering & Life Sciences Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Research & Development in the Physical, Engineering & Life Sciences industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Research & Development in the Physical, Engineering & Life Sciences industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Research & Development in the Physical, Engineering & Life Sciences industry. |
Government Contracts
In 2022, the federal government spent a total of $450,619,104,492 on Research & Development in the Physical, Engineering & Life Sciences. It has awarded 14854 contracts to 3900 companies, with an average value of $115,543,360 per company.| Most Recent Contracts | Date | Total Award Amount |
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