Transportation
is one of the world’s largest industries. Its sectors range from taxis to
trucks to airplanes, trains, ships, barges, pipelines, warehouses and logistics
services.
In total,
during 2009, the U.S. transportation industry (in both for-hire and not
for-hire sectors, including support and repair) had revenues of about $1.6
trillion. At a bit more than 10% of America’s
economic
activity, transportation is remarkably efficient, considering the fact that it
is a vital service to every other sector of the economy. In fact, thanks to
increasing use of advanced information systems and such strategies as the intermodal
containers (sending freight via containers that are easily transferred from
ship to rail car to truck as needed, without repacking), the transportation
industry’s productivity is excellent.
Globally, the transportation sector has been under extreme pressure since mid-2007. At first, it was pummeled by rising fuel costs. Then, the global recession slashed traffic of all types, including airline passengers and ship cargo. The decline in business was felt by all types of firms within this sector, from freight brokers to car and truck manufacturers.
No comments:
Post a Comment