Siemens spends €4 billion on R&D | Automation.com

Siemens spends €4 billion on R&D

December 4, 2014 - In fiscal 2014, Siemens filed 4,300 patent applications – a year-over-year increase of nine percent. In addition, the company intends to boost investments in research and development (R&D) by around €400 million. In fiscal 2014, R&D expenditures totaled roughly €4 billion. Twelve Siemens researchers and developers who together account for more than 900 inventions and 842 granted individual patents played a leading role in the company’s success. They were honored by Siemens as Inventors of the Year 2014 in Munich on December 3.

“Innovation is a cornerstone of our Siemens Vision 2020,” says Joe Kaeser, President and CEO of Siemens AG. “Valuable creative ideas are the basis for our innovations. With their ingenuity and their drive to create new technology solutions, these 12 inventors and their 30,000 colleagues worldwide have played a key role in safeguarding our company’s technological future and market success.”

Eight of the Siemens researchers honored are from Germany; the others are from the U.S., Denmark and China. Their inventions range from wireless sensors that monitor rail-car position on the track to a new cooling system that enables wind power installations to generate more electricity to a gas turbine whose components have been recombined, thus making turbine production considerably more economical than in the past.

Siemens has been presenting the Inventors of the Year award annually since 1995 to honor the organization's outstanding researchers and developers whose inventions make major contributions to the company's success.
 
Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 165 years. The company is active in more than 200 countries, focusing on the areas of electrification, automation and digitalization. One of the world’s largest producers of energy-efficient, resource-saving technologies, Siemens is No. 1 in offshore wind turbine construction, a leading supplier of combined cycle turbines for power generation, a major provider of power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. The company is also a leading provider of medical imaging equipment – such as computed tomography and magnetic resonance imaging systems – and a leader in laboratory diagnostics as well as clinical IT. In fiscal 2014, which ended on September 30, 2014, Siemens generated revenue from continuing operations of €71.9 billion and net income of €5.5 billion. At the end of September 2014, the company had around 357,000 employees worldwide.

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