Automotive Engineering Service Providers Market | Increasing Vehicle Digitization and Electrification to Boost the Market Growth

The global automotive engineering service providers market size is poised to grow by USD 5.31 billion during 2020-2024, progressing at a CAGR of over 6% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201009005403/en/

Technavio has announced its latest market research report titled Global Automotive Engineering Service Providers (ESP) Market 2020-2024 (Graphic: Business Wire).

Disruptive technology-driven trends in the automotive industry have been propelling automotive OEMs to incorporate advanced driver-assistance systems (ADAS) primarily for product differentiation and gain competitive advantage. The significant demand from the consumer end for increased

Read More

Army gives green light to shape vehicle electrification requirements

WASHINGTON — Army Futures Command has given the green light to the Maneuver Capabilities Development and Integration Directorate to move forward on developing a plan to equip tactical and combat vehicles with electric power, according to a Sept. 21 statement.

The directorate will begin drafting a requirements document for Tactical and Combat Vehicle Electrification (TaCVE) and will host an industry day Oct. 20 to share its electrification initiatives with industry.

CALSTART, an organization that focuses on clean technology transportation, and the Ground Vehicles Systems Center will cohost the event.

The electrification effort aims to decrease the Army’s reliance on fossil fuels. “The requirement also aims to increase operational reach across all maneuver formations through electric propulsion, which offers a variety of operational and tactical benefits,” a statement from the directorate read.

“These include the potential to double operational duration, implement silent mobility, increase silent watch, and potentially reduce the Army’s

Read More

Geopolitical concerns over China cloud future of U.S. electrification

From mineral extraction to battery supply to EV manufacturing, China has established itself as the preeminent hub for EV-related business, the group says. By last May, 107 of the 142 lithium ion battery megafactories that exist or are under construction were located in China, according to the report, titled “The Commanding Heights of Global Transportation.”

Further, the Chinese have focused on securing supplies of key materials used to produce battery cells, such as cobalt, lithium, nickel and graphite. China has 73 percent of the global share of production of lithium ion battery cells, per the report. The U.S., by comparison, controls 10 percent.

This isn’t the first time alarm bells have been raised about the competitiveness of the U.S. industry. In February 2019, Benchmark Mineral Intelligence Managing Director Simon Moores testified before a U.S. Senate subcommittee, saying, “We are in the midst of a global battery arms race, in which

Read More