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Aerospace Engineering Services Outsourcing Market
The study provides a detailed analysis of the industry, including the global aerospace engineering services outsourcing market size and growth forecasts.
BROOKLYN, NEW YORK, UNITED STATES, July 12, 2023/EINPresswire.com/ — Industry Overview of Aerospace Engineering Services Outsourcing Market
Aerospace engineering, also called astronautical or aeronautical engineering, refers to a field of engineering that usually deals with the development, design, testing, and production of aircraft, satellites, spacecraft, missiles, and related systems and equipment. It usually utilizes computer-aided design (CAD) systems for 3D visualization of completed assemblies and parts and quick drafting and modification of designs. Aerospace engineering helps in integrating and developing advanced technologies into aerospace vehicle systems employed for defense, communications, transportation, and exploration applications. In recent times, aerospace engineering services outsourcing (ESO) has gained extensive popularity, as it helps leading manufacturers in minimizing operating expenses, improving component quality, reducing errors, increasing production time, etc.
How Big Is the Aerospace Engineering Services Outsourcing Market ?
The global aerospace engineering services outsourcing market size reached US$ 77.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 256.6 Billion by 2028, exhibiting a growth rate (CAGR) of 22.1% during 2023-2028.
Global Industry Trends and Drivers:
Continuous improvements in the military and civil aviation sectors are primarily driving the aerospace engineering services outsourcing market. Additionally, the inflating need for expertise that can be challenging to retain, obtain, and develop internally is further bolstering the market growth. Besides this, the growing number of designing- and manufacturing-related services to cut operational costs and the implementation of stringent safety regulations and airworthiness norms by government bodies are acting as significant growth-inducing factors. Moreover, aerospace ESO is gaining extensive traction for after-market services, including asset tracking and management, maintenance, repair, and overhaul services (MROs), augmented reality (AR)-based or virtual reality (VR)-based training, etc. Apart from this, the emerging trend of green aviation and extensive investments in R&D activities are also positively influencing the global market. Furthermore, the rising demand for air travel is expected to propel the aerospace engineering services outsourcing market over the forecasted period.
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What Is Included In Market Segmentation?
The report has been segmented the market into following categories:
Breakup by Component:
• Hardware
• Software
Breakup by Service:
• Design and Engineering
• Manufacturing Support
• Security and Certification
• After-Market Services
Breakup by Location:
• On-Shore
• Off-Shore
Breakup by Region:
• North America
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa
The report provides a comprehensive analysis of the industry key players listed below:
Akka Technologies (Adecco Group), Altair Engineering Inc., ALTEN Group, Bertrandt AG, Capgemini Engineering (Capgemini SE), Edison Welding Institute, Honeywell International Inc., L&T Technology Services Limited (Larsen & Toubro Limited) and Lisi SA.
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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