This week, the globalEDGE blog is diving into the transport manufacturing industry. Over the next four days, we will take a look at automotive, airplane, and train manufacturing, along with a blog on the impact of emerging markets on the global industry.
The transportation manufacturing industry is comprised of businesses that manufacture vehicles, vehicle parts, and the infrastructure that supports them. Sectors in the industry include passenger cars, semi-trailer trucks, container ships, airplanes, and trains. Although most picture major companies such as Ford, Toyota, Boeing, or Airbus when thinking of the industry, smaller businesses that supply the parts and electronics are equally important.
In 2015, the total global revenue for the industry was estimated to be around $1.6 trillion. Since the global recession in 2008, industry sales and profits have recovered and the overall industry continues to see positive growth today. Transport manufacturing companies are constantly innovating, and a major trend throughout the industry is the increasing use of technology in both operations and products. From self-driving cars to drones, the coming years could see huge disruptions in the industry.
Regionally, the Asia-Pacific region contributes almost 40% of total sales in the industry. The Americas make up 33%, and Europe comes in third at close to 24%. The United States leads the world in total sales when looking by country, holding over a quarter of all sales. Transport manufacturing businesses can be incredibly important for a country’s economy, employing thousands of people and adding to a country’s exports. We hope you will gain useful insights this week into the industry. Make sure to check back with the blog throughout the week!