Transportation system is a network of elements & physical components that play several roles in the transportation of persons and goods from one place to another. Transport infrastructure refers as the foundation that supports our transport system. It includes airports, roads, railways, and ports. It links persons to health services, jobs, and education on a regular basis. It enables the supply of goods & services all over the world. A transport system is a vigorous driver of social & economic growth, which creates probabilities for both poor and facilitating economies to become competitive. Local and national government are responsible for the development of our transport infrastructure.
According to study, “Global Transportation Infrastructure Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global transportation infrastructure market are Indra Company, GEM Elettronica, TERMA, AMC Search, Lockheed Martin, Frequentis, Kongsberg, TechnoKontrol, Shelter, ACS, Bechtel Corporation, Actividades DE Construccin Y Servicios, S.A. (Spain), CK Hutchison Holdings Limited, VINCI, Balfour Beatty, Kiewit Corporation, Globalvia Inversiones, Anhui Construction Engineering Group, Arabian Construction, LAING O’ROURKE, Alstom, Larsen & Toubro Limited. As a reaction to restricted margins, many players have recently adopted various modernized and autmated ways to carry out projects, not only in the design & engineering phase but also in the construction phase.
Based on type, transportation infrastructure market is segmented into navigational advice & assistance service, traffic monitoring, traffic organization service (TOS), information service and others. In addition, based on application, market is segmented into airways, railways, waterways, roadways and others. Airways include route optimization, air traffic management and others. Railways include rail traffic management, performance management and others. Waterways include route optimization, ship monitoring and others. Additionally, roadways include road traffic management, road safety management and others. The railways infrastructure segment is estimated to witness higher growth rate owing to rise in ability of railway logistic networks to transport materials and persons through huge distances during the forecast period.
The transportation infrastructure market is driven by increase in demand due to globalization, followed by growth in adoption of connected & smart technologies in transportation infrastructure, rapidly aging transport infrastructure and rapid population growth has led to growth in traffic. However, fast urbanization along with the changing climate and lack of sufficient capital or space to build such railways & roads may impact the market. Moreover, growth in technological innovations & cross-border collaborations is a key opportunity for market. Furthermore, rise in demand for autonomous vehicles & smart cars and emergence of green transport are major trend for market.
Based on geography, the European and North-American regions dominate the transportation infrastructure market owing to presence of several manufacturers and increase in disposable income in the regions. Whereas, the Asian-Pacific region is anticipated to witness higher growth rate due to rapid population & increase in urbanization and growth in economy over the forecast period. In near future, it is predicted that the market will be reached at rapid pace as a result of growth in advancements in technologies during the forecast period.
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Ankur Gupta, Head Marketing & Communications