United States - Transport and Logistics: Increasing trade volumes to drive growth (Strategy, Performance and Risk Analysis)
The US boasts a highly developed transportation network; the country has one of the largest road and rail networks in the world. It is also home to 19,299 airports, of which Dallas, Atlanta, New York, Miami, Boston, Los Angeles, San Francisco and Washington are major international hubs. The country’s national highway system (NHS) - which comprises all interstates, the national pipeline network and roads serving major ports and airports - is the largest in the world.
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Higher demand leading to the development of road and pipeline infrastructure
In the US, rail length posted a CAGR of -0.6% during 2012-2017, from 257,697.0km to 249,912.7km, and is anticipated to record a CAGR of -0.7% over the forecast period, falling from 248,384.8 km in 2018 to 241,492.3 km in 2022. The decline is due to the closure of routes by Amtrak.
Increase in passengers and freight traffic to help drive GVA growth
Globally, transport and logistics GVA recorded a CAGR of 2.6%, from US$3.2tn in 2012 to US$3.7tn in 2017, and is anticipated to post a CAGR of 5.7%, from US$3.9tn in 2018 to US$4.8tn in 2022. The increase is primarily due to the expansion of freight traffic and volume in the US, China and India.
Emergence of new carriers and fleet modernization initiatives to boost active fleet growth
Globally, the size of the active air fleet recorded a CAGR of 13.6%, rising from 12,869 aircraft in 2012 to 24,292 in 2017. It is forecast to post a CAGR of 8.0%, from 26,564 units in 2017 to 36,105 in 2022. The major reason for the increase is the emergence of new full-service and low-cost carriers in China, India, the UK and Canada.