The Engineering profession is the creation of items using blueprints. You need a Premium Account to participate in Engineering.
How to get started
To create a pod or exploration item, you need the blueprints, and then go to a Engineering Processing Station. Each item is made by putting together two kinds of Engineering modules and a resource. The Engineering modules are also engineered items. Each module is made from three pieces of Space Debris. Some new modules are made from High Tech Loot instead.
You need no additional equipment (besides the Premium Account).
There are no skills involved in Engineering. However, you do need to be a certain level to engineer items. All Engineering modules can be created at level 10. The level requirement to engineer the actual item varies between level 10 for the low end items to level 50 for some high end pods.
Watch out when trying to view engineering blueprints in game. A blueprint store looks almost the same as a schematic store, but where in the schematic store there is a 'View item' button for viewing a schematic before purchase, the blueprint store only has a 'Purchase' button. That is, you cannot view a blueprint in game without purchasing it and this is easy to do by accident.
Many of the high end blueprints require Nebula resources. Since gathering these costs a lot of time, they are both expensive and hard to get. People who do invest in harvesters are usually in need of the resources themselves, since the market for it is so small. Conversely, since Engineering requires no IP investment, each player that is a Nebula harvester and has PA can very easily (though not cheaply) become an engineer.
Also, since pods can easily be shared, each guild can get by with only one of the highest Reduction Matrix and Subatomic Moleculiser, which they can then lend to each of their players to use for a few minutes. This greatly reduces the market for these pods.