Analysts at Nuvama said, “Management forecasts India’s share of global ER&D (engineering and research and development) outsourcing market would expand at a CAGR (compound annual growth rate) of 17–22% over 2023–30. They anticipate global ER&D spend to touch $540 billion in the auto segment, $280 billion in transport & off-highway and $120 billion in aerospace & rail by 2030.”
About L&T Technology Services Ltd
L&T Technology Services Limited (LTTS) is a listed subsidiary of Larsen & Toubro Limited focused on Engineering and R&D (ER&D) services. We offer consultancy, design, development and testing services across the product and process development life cycle. Our customer base includes 69 Fortune 500 companies and 51 of the world’s top ER&D companies, across industrial products, medical devices, transportation, telecom & hi-tech, and the process industries. Headquartered in India, we have over 16,700 employees spread across 17 global design centers, 28 global sales offices and 49 innovation labs as of September 30, 2019.