$50B Later, Looking Back on a Decade of R&D at GE

GE’s online Annual Report launched today, underscoring how 2010 was another year focused on innovation and technology. Last year’s progress capped a decade of investments in research and development, the launch of new technologies and the announcement of new and expanded factories. A new website that also launched today captures some of the highlights of the last 10 years.

As you can see in the data visualization below, one of many on the new site, a key part of that technology story can be seen in the sheer number of patents filed over the last 10 years by GE scientists. From desalinization technologies to molecular pathology to technologies for the smart grid, the number of patents has continued to climb. The graphic also breaks out filings in some of our key markets.

Click to enlarge. More data visualizations about the transformation during the last decade can be found at our “Ten Years” website.

CEO Jeff Immelt’s tenure began Sept. 7, 2001, just two business days before the 9/11 attacks threw the global economy into a whirlwind of uncertainty and retreat. Despite the economic slowdown, GE continued investing heavily in R&D — ultimately $50 billion in product technology through 2010 — as a way to better protect itself against economic cycles and position itself for sustainable growth.

Click to enlarge. As you can see in the graphic, that R&D investment has accelerated even more in recent years.

GE’s investment in R&D has risen 54 percent in the past four years alone, with planned investment of $20 billion in new technology from 2010 to 2012.

As the new website notes, “A decade ago, GE committed to transforming its portfolio, strengthening investment in innovation and expanding global operations to win in the 21st century.” That effort has increased the proportion of GE Industrial revenues from $74 billion in 2001 to $106.2 billion in 2009. At the same time, GE’s services business has risen, with revenues there rising from $16 billion at the millennium to an estimated $36 billion a decade later.

You can see videos featuring some of the technologies that are part of the decade of change — and check out our innovation timeline by visiting http://tenyears.geblogs.com/. It features closer looks at our work with NASA, new technologies such as our Vscan handheld ultrasound and WattStation EV charger, and technologies soon to come out of the lab, like paper-thin lights.

2 Comments

  1. Rajeeva Kumar says:

    This is regarding the chart ” Patent filing in key markets” in GE report on “$50B Later, Looking Back on a Decade of R&D at GE”. The back ground figure depicting India is inaccurate and controvercial. The drawing of India included in the report does not show J&K part (the northern region) correctly and I am sure a lot of Indians will find it very very objectionable. Please either correct the figure or not use it. Thanks.

  2. Paul Lewis says:

    “Renewing American Leadership”
    Hopefully we will not outsource that too.
    With GE as global as it is, Immelts speech title may be an impossible goal.

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