Now a day's automotive OEM are concentrating on vehicles efficiency and cost effectiveness to reach out with competitors. In order to achieve cost effectiveness optimization of less critical components is necessary. Pitman arm seems to be an overdesigned part. Pitman arm used to steer vehicle is redesigned and modified for achieving less weight and thus cost. Reverse engineering technique is used to model existing pitman arm by CATIA V5 software. The structural optimization is done on the pitman arm using Optistruct tool. Structure of pitman arm is changed by removing the material from the surface where stress value is low. The testing of Pitman arm is carried out for static analysis and fatigue analysis and the results are compared with the experimental results. Static analysis results of existing pitman arm proved that the model is more stable and there was scope for optimization. The weight of original Pitman arm model was 974 gm and that of the new optimized model 840 gm. Weight of the Pitman arm after optimization is reduced by 14%. FEA of optimized Pitman arm has shown 1108.0 microstrain whereas that of the experimental testing shown 1024.39 microstrain. The comparison, between fatigue life results of existing and optimized pitman arm has been performed and it is observed that the pitman arm is having infinite life. The above study confirmed that optimized pitman arm is structurally stable with good fatigue life.