Some defense contractors are accepting the Pentagon's push to invest more in research and development even as sales decline, arguing the right investments will pay off, despite the tightened environment. Raytheon likes to consider itself something of a poster child for R&D spending, preparing to invest this year at one of the highest rates in the industry. Last year, the contractor spent about 2.2 percent of sales - or $500 million - on R&D; this year, company executives have said they want to boost that figure to nearly 3 percent - or roughly $600 million to $650 million.
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