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Aerospace Engineering Services Outsourcing Market Rising Growth With Key Player is About to Gain Momentum: 2019-2023 (Key Players: ESO are Honeywell International Inc., LISI Group, ALTRAN, Bertrandt, AKKA, Altair Engineering)

10-21-2019 05:00 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Worldwide Market Reports

Aerospace Engineering Services Outsourcing

Aerospace Engineering Services Outsourcing

ESO, short for engineering services outsourcing, continues to acquire a larger share in the world’s total demand for aerospace engineering services as the aerospace industry struggles with challenges such as cost pressures, shortage of skilled resources, and an aging workforce. In the near future, aerospace companies are expected to outsource an increasing number and volume of designing- and manufacturing-related services to reduce their operational costs, among other factors. The increasing demand for aircraft and their reduced half-lives are likely to lead to a notable rise in aerospace ESO activities over the forecast period.

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The need for specialized IT and core engineering services has witnessed a surge in the past decade. Thus, apart from traditional engineering proficiencies like drafting, modeling, and MRO of airplane parts, service providers are also focusing on other offerings such as designing, prototyping, simulation, testing, and system engineering for aerostructures and avionics. The trend is likely to remain strong in the near future as well.

Based on component, the market for aerospace ESO has been categorized into hardware and software. The hardware segment accounted for a larger revenue share in 2018 and is anticipated to assert its dominance over the forecast period. This can be attributed to the significant rise in usage of electro-mechanical systems in the aerospace industry.

The North America regional market for aerospace ESO accounted for the largest revenue share in 2018. The U.S. accounts for a substantial share of the software segment due to persistent developments in the IT sector and increasing deployment of IT services, data center systems, enterprise software, and communication systems in the region. The European aerospace ESO market was valued at over USD 10 billion in 2018. The demand for outsourcing of aerospace engineering services in European countries is anticipated to be sluggish over the forecast period. This slow growth pace can be attributed to market saturation, fierce competition, and challenging economic conditions.

Asia Pacific is anticipated to emerge as the fastest-growing aerospace ESO regional market over the forecast period owing to the increasing number of collaborations between the OEMs and service providers. The number of such collaborations is likely to substantially grow in the near future due to the high availability of low-cost, high-skilled labor in the region. South America and Middle East & Africa regions are anticipated to register considerable growth from 2019 to 2023.
To address the growing environmental concerns, manufacturing organizations are expected to focus more on investments in green technology. For instance, the U.K.-based technology start-up Samad Aerospace Ltd. is developing Starling Jet. This is a Vertical Take-Off and Landing (VTOL) hybrid-electric propulsion aircraft for commuting.

Such trends are expected to increasingly encourage aerospace OEMs to invest in ESO. Some of the leading players in the market for aerospace ESO are Honeywell International Inc., LISI Group, ALTRAN, Bertrandt, AKKA, Altair Engineering, Inc., Alten Group, L&T Technology Services Limited, Safran, and QuEST Global Services Pte. Ltd.

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Table of Contents

Chapter One Aerospace Engineering Services Outsourcing Industry Overview
Chapter Two Aerospace Engineering Services Outsourcing Up and Down Stream Industry Analysis
Chapter Three Asia Aerospace Engineering Services Outsourcing Market Analysis
Chapter Four 2014-2019 Asia Aerospace Engineering Services Outsourcing Productions Supply Sales Demand Market Status and Forecast
Chapter Five Asia Aerospace Engineering Services Outsourcing Key Manufacturers Analysis
Chapter Six Asia Aerospace Engineering Services Outsourcing Industry Development Trend
Chapter Seven North American Aerospace Engineering Services Outsourcing Market Analysis
Chapter Eight 2014-2019 North American Aerospace Engineering Services Outsourcing Productions Supply Sales Demand Market Status and Forecast
Chapter Nine North American Aerospace Engineering Services Outsourcing Key Manufacturers Analysis
Chapter Ten North American Aerospace Engineering Services Outsourcing Industry Development Trend
Contnue . . .

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Worldwide Market Reports is your one-stop repository of detailed and in-depth market research reports compiled by an extensive list of publishers from across the globe. We offer reports across virtually all domains and an exhaustive list of sub-domains under the sun. The in-depth market analysis by some of the most vastly experienced analysts provide our diverse range of clients from across all industries with vital decision making insights to plan and align their market strategies in line with current market trends.

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Worldwide Market Reports
Tel: +1 415 871 0703
Email: sales@worldwidemarketreports.com

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