US Transportation Infrastructure Construction Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers US Transportation Infrastructure Construction Companies and the market is Segmented by Type (roadways, Railways, Airports, Ports, and Inland Waterways). the Market Size and Forecasts for the Transportation Infrastructure Construction Market are Provided in Terms of Value (USD) for all the Above Segments.

US Transportation Infrastructure Construction Market Size

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United States Transportation Infrastructure Construction Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 371.25 Billion
Market Size (2029) USD 471.13 Billion
CAGR (2024 - 2029) 4.88 %
Market Concentration Low

Major Players

United States Transportation Infrastructure Construction Market Major Players

*Disclaimer: Major Players sorted in no particular order

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US Transportation Infrastructure Construction Market Analysis

The United States Transportation Infrastructure Construction Market size is estimated at USD 371.25 billion in 2024, and is expected to reach USD 471.13 billion by 2029, growing at a CAGR of 4.88% during the forecast period (2024-2029).

About 39% of transportation and infrastructure spending in 2022 went to highway transportation, 28% to rail and mass transit, 22% to air travel, and 9% to water. Infrastructure and transportation spending in 2022 decreased by 21% from the year before, when spending reached a record high due to support for COVID-19, but is still 21% above 2019 levels before the pandemic.

State and local governments accounted for USD 211.8 billion in T&I spending in 2020 (excluding government transfers). This equated to 57% of total government T&I spending. In 2022, the federal government invested USD 36.6 trillion in infrastructure, with USD 94.5 trillion of that going directly to the states.

The bill set aside USD 550 billion for road, bridge, and rail projects, airports, broadband, and climate-related issues. The spending began in 2022 and is spread over five years. Approximately 66% of these funds were allocated to public utilities, including power and water infrastructure. On average, FEMA infrastructure spending post-disasters for public utilities accounted for 31% of the total FEMA infrastructure spending between 2000 and 2021.

As the world’s population continues to grow and the economy continues to expand, the number of customers will continue to grow, people and goods will continue to demand transportation, and the overall demand for transport will grow significantly. In the US, President Joe Biden unveiled a USD 2 trillion infrastructure plan to modernize the country’s infrastructure in the next decade.

US Transportation Infrastructure Construction Market Trends

Government Initiatives for Infrastructural Development to Boost the Market

Bipartisan Infrastructure Act provides substantial new funding for Federal Highway Administration (FHWA) and Department of Transportation (DOT) roadways, bridges, and other critical infrastructure projects. The bill sets aside USD 40 billion for bridge construction. The Bridge Investment Initiative (BII) is a competitive program for replacing, restoring, preserving, or protecting some of the nation’s most critical and economically significant bridges. The BII will receive USD 12,5 billion under the BII. The remaining funds come from the BII Bridge Formula Program (BFP). The BFP allocates a certain amount of funds to states for replacing, rehabilitating, conserving, protecting, and constructing bridges on public roads.

The bipartisan Infrastructure Law invests USD 91.2 billion in repairing and modernizing transit. The law promotes expanded public transportation options across the country by replacing thousands of substandard transit vehicles (including buses) with clean, zero-emissions vehicles and improving access for seniors and disabled people. The Federal Transit Administration (FTA) Reauthorization and Supplemental Appropriations (USD 21.3 billion) are the primary sources of transit funding. Capital Investment Grants (CIGs) from the FTA fund new and improved high-capacity trains and buses. The program includes New Starts (build new systems or extend existing ones), Small Starts (costs less than USD 400 million), and Core Capacity (improves existing corridors to meet growing demand).

United States Transportation Infrastructure Construction Market: Value of Federal Highway and Street Construction, USD Million, United States, 2009 - 2022

Growth in Airports Infrastructure Market

The U.S. led the way in the development of modern aviation, but many of our nation’s airports are lagging behind their international peers. According to some rankings, none of America’s airports rank in the top 25 worldwide airports. The money is divided into three main programs: Facilities and Equipment funding – USD 5 billion, Airport Infrastructure Grant Program – USD 15 billion, and Airport Terminal Program – USD 5 billion. Thousands of airports nationwide receive grants to fund a wide range of maintenance and modernization projects through the Airport Infrastructure grant program (for example, runways & taxiways, Noise, Multimodal, Terminal buildings, etc.). The proposal also includes a competitive USD 100M (USD 20M per year) grant for Airport-owned contract Airport traffic control towers. The Bipartisan infrastructure law gives municipal airports discretionary funds to support certain critical needs.

At the end of the 5th year, unbound funds are available for the competitive discretionary grant program. The discretionary program’s first USD100 million will likely be used to fund airport-owned contract airports’ traffic control towers. The remaining USD100 million will support initiatives that reduce airport emissions, noise, reliance on the electrical grid, or provide community benefits. The Airport Enhancement Program (AEP) and the Supplemental Discretionary Program (SDP) each provide approximately USD 3.75 billion in capital improvement projects at eligible U.S. airports each year.

United States Transportation Infrastructure Construction Market: Average age of infrastructure in the USA, by type, United States, 2022

US Transportation Infrastructure Construction Industry Overview

The United States transportation infrastructure construction market needs to be more cohesive, owing to the presence of major local and international players. Skanska USA, Webcor Builders, AECOM, Suffolk Construction, and Hoffman Construction are among the major players in the market. In the transportation infrastructure market, demand for sustainability and technical developments has increased, and companies are investing to stay competitive.

US Transportation Infrastructure Construction Market Leaders

  1. Skanska USA

  2. Webcor Builders

  3. AECOM

  4. Suffolk Construction

  5. Hoffman Construction

*Disclaimer: Major Players sorted in no particular order

United States Transportation Infrastructure Construction Market Concentration
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US Transportation Infrastructure Construction Market News

  • September 2023: FMCSA announced more than USD 80 million in grant awards under President Biden's Bipartisan infrastructure law. This record-breaking funding will help prevent commercial motor vehicle (CMT) crashes from occurring more often and more severely on our nation's roads and help truck drivers by increasing access to commercial truck parking, leveraging critical technology, and enhancing safety in work areas, rural areas, and high-crash corridors. Grant beneficiaries include state and local governments, nonprofit organizations, and colleges and universities across the nation.
  • November 2022: The contract showed that the Wisconsin Department of Transportation awarded a USD 201 million contract to a construction company based in Black River Falls for the addition of four new lanes to I-43 and the replacement of a bridge over the Glendale Union Pacific Railroad. The plans include the replacement of the bridge over the Union Pacific Railroad, the expansion of the four-lane highway from four to six lanes, and the widening of North Port Washington road from two-lane to four-lane between Bender and West Daphne roads. The Port Washington Road expansion will connect to the existing four-lane road section at each end.
  • September 2022: AECOM, an infrastructure consulting firm, announced the completion of a due diligence framework to identify the best sites for a proposed vertiport network that will connect strategic locations throughout Florida. AECOM, which is part of global infrastructure giant Ferrovial, said that the due diligence framework will play a critical role in the future of air mobility with eVTOLs. eVTOLs provide a zero-carbon, ultra-high-speed, and cost-effective transportation network that will enable the future of intrastate and regional air mobility in the region.

US Transportation Infrastructure Construction Market Report - Table of Contents

  1. 1. Introduction

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. Research Methodology

  3. 3. Executive Summary

  4. 4. Market Insights

    1. 4.1 Market Overview

    2. 4.2 Market Dynamics

      1. 4.2.1 Drivers

        1. 4.2.1.1 Increase In Tourism Industry

        2. 4.2.1.2 Sustainability and Environmental Concerns

      2. 4.2.2 Restraints

        1. 4.2.2.1 Financial Constraints

        2. 4.2.2.2 High Maintenance

      3. 4.2.3 Opportunities

        1. 4.2.3.1 Technological Advancements

    3. 4.3 Government Regulations and Initiatives

    4. 4.4 Supply Chain/Value Chain Analysis

    5. 4.5 Technology Snapshot and Digital Trends

    6. 4.6 Major Infrastructure Development Projects

    7. 4.7 Porter's Five Forces Analysis

      1. 4.7.1 Bargaining Power of Suppliers

      2. 4.7.2 Bargaining Power of Consumers/Buyers

      3. 4.7.3 Threat of New Entrants

      4. 4.7.4 Threat of Substitute Products

      5. 4.7.5 Intensity of Competitive Rivalry

    8. 4.8 Impact of COVID-19 on the Market

  5. 5. Market Segmentation

    1. 5.1 By Type

      1. 5.1.1 Roadways

      2. 5.1.2 Railways

      3. 5.1.3 Airports

      4. 5.1.4 Ports and Inland Waterways

  6. 6. Competitive Landscape

    1. 6.1 Market Concentration Overview

    2. 6.2 Company Profiles

      1. 6.2.1 Skanska USA

      2. 6.2.2 Webcor Builders

      3. 6.2.3 AECOM

      4. 6.2.4 Suffolk Construction

      5. 6.2.5 Hoffman Construction

      6. 6.2.6 Clark Group

      7. 6.2.7 Turner Construction Co.

      8. 6.2.8 Walsh Group, The

      9. 6.2.9 Jacobs

      10. 6.2.10 Hunter Roberts Construction Group

      11. 6.2.11 PCL Construction Enterprises

      12. 6.2.12 Hill Intl.

      13. 6.2.13 Messer Construction

      14. 6.2.14 Weitz Co., The

      15. 6.2.15 VRH Construction

      16. 6.2.16 Clune Construction

      17. 6.2.17 Whiting-Turner Contracting Co., The

      18. 6.2.18 Wendel

      19. 6.2.19 Balfour Beatty US

      20. 6.2.20 LeChase Construction*

    3. *List Not Exhaustive
  7. 7. Market Opportunities and Future Trends

  8. 8. Appendix

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US Transportation Infrastructure Construction Industry Segmentation

Transportation infrastructure construction involves a variety of construction activities, including reforming existing infrastructure, constructing new infrastructure, and expanding or demolishing existing infrastructure. A comprehensive analysis of the U.S. Transportation Infrastructure Construction market includes an overview of the economy, a forecast of market size for key market segments, and an analysis of emerging trends in key market segments.

The report sheds light on the market trends like growth factors, restraints, and opportunities in this sector. The competitive landscape of the United States Transportation Infrastructure Construction Market is depicted through the profiles of active key players. The report also covers the impact of COVID-19 on the market and future projections.

The United States transportation infrastructure construction market is segmented by type (roadways, railways, marine transportation, and airlines).

The market sizing and forecasts have been done for each segment based on value (USD).

By Type
Roadways
Railways
Airports
Ports and Inland Waterways
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US Transportation Infrastructure Construction Market Research FAQs

The United States Transportation Infrastructure Construction Market size is expected to reach USD 371.25 billion in 2024 and grow at a CAGR of 4.88% to reach USD 471.13 billion by 2029.

In 2024, the United States Transportation Infrastructure Construction Market size is expected to reach USD 371.25 billion.

Skanska USA, Webcor Builders, AECOM, Suffolk Construction and Hoffman Construction are the major companies operating in the United States Transportation Infrastructure Construction Market.

In 2023, the United States Transportation Infrastructure Construction Market size was estimated at USD 353.98 billion. The report covers the United States Transportation Infrastructure Construction Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the United States Transportation Infrastructure Construction Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

US Transportation Infrastructure Construction Industry Report

Statistics for the 2024 US Transportation Infrastructure Construction market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. US Transportation Infrastructure Construction analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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US Transportation Infrastructure Construction Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)