Nanotechnology
With the rise of nanotechnological innovations used in various industries, such as energy, consumer goods, water purification, apparel, agriculture and food safety, worldwide nanotechnology revenues are forecast to reach $3.7 trillion in 2018. Nanotechnology is especially a major growth driver in the High-Tech (HT) manufacturing industries, which added $511 billion to the US GDP in 2014. Although it accounts for approximately 3% of the GDP, HT manufacturing industries fund nearly 50% of all business R&D in the US. This includes incorporating nanoscale devices in semiconductor manufacturing, sensor and communications equipment, pharmaceuticals and precision medicine, and the automobile and aerospace industries.
The US fiscal 2018 budget includes $1.2 billion for the National Nanotechnology Initiative (NNI) for a total of $25 billion invested in nanotechnology since the Initiative’s inception in 2001. Nanoscale science, engineering and technology at 12 agencies is supported by the federal government, with the largest investments allocated to the NSF, DHHS/NIH, DOE, DOD and DOC/NIST.
By area, 39% of this nanotechnology R&D in the 2018 fiscal budget is for foundational research and 24% for applications, devices and systems. Signature initiatives and grand challenges represent 16% of total NNI funding, while infrastructure and instrumentation make up 15% and environment, health and safety account for the remaining 6%.
Strategies for reaching the goals set out in the NNI include establishing a nanotechnology R&D program, commercializing products for social benefit, and developing leading education, employment and infrastructure for nanotechnology advancement.
