This work aims to evaluate the current state of research on the use of artificial intelligence, deep learning, digitalization, and Data Mining in product development, mainly in the mechanical and mechatronic domain. These methods, collectively referred to as “digital engineering”, have the potential to disrupt the way products are developed and improve the efficiency of the product development process. However, their integration into current product development processes is not yet widespread. This work presents a novel consolidated view of the current state of research on digital engineering in product development by a literature review. This includes discussing the methods of digital engineering, introducing a product development process, and presenting results classified by their individual area of application. The work concludes with an evaluation of the literature analysis results and a discussion of future research potentials.