The role of innovative development of machine-building enterprises for the economy of the region

The article deals with the cycles of economic development, their impact on the country's economy, the opportunities and directions of the future innovative development of enterprises. A review of innovations theories of K. Marx, N.D. Kondratev, J.A. Shumpeter, S.Yu. Glazev is given. The problems of innovative potential formation in the region are revealed - technological backwardness of production from world leaders, low labor productivity in all sectors of the economy, high level of physical and moral depreciation of fixed assets, low design and development level of new types of science-intensive competitive products, an insignificant share of innovatively active enterprises.. It is revealed that the processing industry is one of the main priorities of the social and economic development of the Republic of Buryatia. The role of the machine-building engineering in the innovative development of the region is shown. An example of innovative development of LLC "Enterprise “ Aerotech ””is considered.