News and Insights from Volant and the industries we serve
Written by
imarc
Summary:
The United States plays a vital role in the market, influenced by the adoption of sophisticated technologies such as digital twins, artificial intelligence (AI)-enhanced design optimization, cloud-based computer-aided design (CAD), and Internet of Things (IoT)-enabled systems. Engineering services outsourcing firms provide extensive knowledge in these digital areas, facilitating product innovation, quicker iteration cycles, and integration with existing systems. Furthermore, top providers in the US are engaging in acquisitions to enhance their domain knowledge, especially in high-value, regulated industries. These agreements aim to deepen engineering capabilities, expand client portfolios, and speed up growth via cross-selling and operational synergies.
In 2024, Cognizant revealed its purchase of Belcan for around $1.3 billion to enhance its engineering proficiency and secure a leading role in the aerospace and defense industry. The agreement was anticipated to generate over $100M in yearly revenue synergies within three years and positively impact the 2026 EPS. Belcan will maintain its name while more than 6,500 engineers integrate into Cognizant.
