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| Market Forecast (5-year projection) | |
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| Products/Services Breakdown | |
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| Financial Metrics | |
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| Salary & Compensation Statistics | |
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| Public Company Information | |
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| Key Private Companies | |
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2024 U.S. Industry Statistics & Market Forecast - Engineering Services
Market Size & Industry Statistics
The total U.S. industry market size for Engineering Services:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| Market Forecast ($ millions) | |||||
| Projected Industry Growth Rate (%) | |||||
Industry Insights
Major trends affect the Engineering Services industry include:- Rising demand for sustainable and green engineering solutions
- Increasing integration of IoT, AI, and other digital technologies
- Growing focus on cybersecurity in engineering products and systems
- Expansion of engineering services outsourcing
- Pressure to shorten development cycles and reduce costs
- Adoption of advanced manufacturing techniques like 3D printing
- Increased use of simulation and modeling in the design process
- Challenges in talent acquisition and skills shortage
- Implementation of stricter regulations and quality standards worldwide
- Shift towards renewable energy projects
- Impact of global economic fluctuations on project funding
- Enhanced collaboration across disciplines using cloud technologies
- Rise in demand for smart cities and urban planning solutions
- Increased emphasis on risk management and compliance
- Ongoing innovation in materials technology
- Growing influence of industry 4.0 practices
Product & Services Breakdown
Research products and services in the Engineering Services industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Construction Management Services |
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Project Management Services |
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Specific Element Inspection Services |
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Research And Development |
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Engineering Services For Residential Building Projects |
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Engineering Services - New Residential Building Projects |
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Engineering Services - Residential Building Renovation Projects |
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Engineering Services For Commercial, Public, And Institutional Building Projects |
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Engineering Services - New Commercial, Public, And Institutional Building Projects |
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Engineering Services - Commercial, Public, And Institutional Building Renovation Projects |
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Engineering Services For Industrial And Manufacturing Projects |
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Engineering Services - Petroleum And Petrochemical Plant And Process Projects |
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Engineering Services - Other Industrial And Manufacturing Plant And Process Projects |
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Engineering Design Services For Industrial And Manufactured Products (Include Aerospace And Defense.) |
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Engineering Services For Transportation Projects |
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Engineering Services - Highway And Roadway Projects |
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Engineering Services - Mass Transit Systems Projects (Include Light Rail And All Related Bridges And Tunnels.) |
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Engineering Services - All Other Transportation Projects (Include Aviation, Railway, And Marine.) |
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Engineering Services For Municipal Utility Projects |
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Engineering Services - Water Collection, Distribution, Treatment, And Disposal Projects |
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Engineering Services - Municipal Waste Collection And Disposal Projects |
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Engineering Services - Other Municipal Utility Projects |
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Engineering Services For Telecommunications And Broadcasting Projects |
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Engineering Services For Hazardous And Industrial Waste Systems Projects |
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Engineering Services - Industrial Waste Collection, Treatment, And Disposal Systems Projects |
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Engineering Services - Hazardous Waste Remediation Projects |
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Engineering Services For All Other Projects |
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Engineering Advisory And Consulting Services, Performed Independently Of An Engineering Project (Include Forensic Investigation. |
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Engineering Services For Power Generating Unit Projects |
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Engineering Services - Fossil Fuel Power Generating Unit Projects |
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Engineering Services - Hydropower Generating Unit Projects |
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Engineering Services - Nuclear Power Generating Unit Projects |
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Engineering Services - Other Power Generating Projects |
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Engineering Services For Power Transmission And Distribution Projects (Overhead And Underground) |
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Design-Build And General Contractor Services (Include Design-Bid-Build Construction Services.) |
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Home Inspection Services (Include Only Buildings With Fewer Than Four Residences.) |
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Commercial Building Inspection Services |
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Environmental Hazard Detection Services (Include Asbestos, Lead-Based Paint, Radon, And Mold.) |
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Drafting Services |
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Engineering Services |
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Survey And Mapping Services, Excluding Geophysical Services |
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Geophysical Surveying Services |
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Licensing Of Rights To Use Intellectual Property |
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Resale Of Merchandise |
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All Other Receipts |
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All Other Operating Receipts |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) |
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|---|---|---|
| Total Revenue | Order at top of page |
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| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Engineering Services company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Engineering Services industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Engineering Services measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 11% | Order at top of page |
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| Chief Executives | 0% | |||
| General and Operations Managers | 3% | |||
| Other Management Occupations | 5% | |||
| Business and Financial Operations Occupations | 12% | |||
| Business Operations Specialists | 10% | |||
| Logisticians and Project Management Specialists | 5% | |||
| Computer and Mathematical Occupations | 9% | |||
| Computer Occupations | 8% | |||
| Architecture and Engineering Occupations | 46% | |||
| Engineers | 30% | |||
| Civil Engineers | 14% | |||
| Civil Engineers | 14% | |||
| Drafters, Engineering Technicians, and Mapping Technicians | 13% | |||
| Drafters | 5% | |||
| Engineering Technologists and Technicians, Except Drafters | 6% | |||
| Office and Administrative Support Occupations | 7% | |||
Engineering Services Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Engineering Services industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Engineering Services industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Engineering Services industry. |
Innovation News
- Jun 13, 2024: Boston Dynamics patents Identifying Stairs From Footfalls
- Jun 13, 2024: Boston Dynamics patents Anchoring Based Transformation For Aligning Sensor Data Of A Robot With A Site Model
- Jun 13, 2024: Boston Dynamics patents Arm And Body Coordination
- Jun 11, 2024: Percipient.ai raises $17 million in funding.
- Jun 05, 2024: Arris Composites raises $55 million in funding.
- May 17, 2024: Ayres Associates raises $1 million in funding.
- Jan 29, 2024: Innovative Power Products trademarks "COOL CHIP" - electronic components
- Jan 26, 2024: Valdes Engineering trademarks "VALDES" - Architectural services
- Jan 25, 2024: Newwave Telecom & Technologies trademarks "IMERSIS" - Providing temporary use of non-downloadable cloud-based software for data quality management and to help state Medicaid agencies prepare and refine data prior to submission
Recent Federal Contracts for Engineering Services
- Apr 02, 2024: GREENMAN-PEDERSEN, INC. (Columbia, MD) awarded $190,000
- Apr 02, 2024: AMERESCO, INC. (Framingham, MA) awarded $3,192,170
- Apr 02, 2024: S&K LOGISTICS SERVICES, LLC (Byron, GA) awarded $1,336,818
- Apr 02, 2024: SHORT ELLIOTT HENDRICKSON - HIMALAYAN CONSULTANTS JV LLC (Germantown, WI) awarded $296,470
- Apr 02, 2024: DELOITTE CONSULTING LLP (Arlington, VA) awarded $4,264,019
- Apr 02, 2024: DAKOTA CONSULTING INCORPORATED (Silver Spring, MD) awarded $209,031
