Michael G. Malloy/TT
Following a drop during the recession and a mild economic recovery, the U.S. freight economy — particularly trucking — is projected to grow significantly through 2023, according to American Trucking Associations.
ATA’s U.S. Freight Transportation Forecast to 2023, a collaboration among ATA, IHS Global Insight and Martin Labbe Associates, states that trucking is the leading mode of transportation and projects an even more robust role for trucks in the future.
“The trucking industry continues to dominate the freight transportation industry in terms of both tonnage and revenue, comprising 67% of tonnage and 81% of revenue in 2011,” ATA Chief Economist Bob Costello wrote.
Total freight tonnage is expected to grow by 21% by 2023, and revenue for the freight transportation industry is projected to rise 59% in that same timeframe.