Bright Outlook for the Trucking Industry

Things are starting to look up for the trucking industry according to the American Trucking Associations (ATA). The ATA recently releasedtheir report on the future of the freight industry,ATA U.S. Freight Transportation Forecast to 2021. In all areas of the freight industry there exists a silver lining as the economy emerges from recession, and freight is projected to grow. The ATA projects trucking, in particular, to grow from 68 percent to 70.7 percent by 2021.

In the near future, experts indicate recuperation for the trucking industry as the manufacturing industry restocks its supply of goods. The Institute for Supply Management released theirApril 2010 Manufacturing ISM Report On Business®on May 3rd, which shows excellent growth for the manufacturing industry as well. Among the statistics, the Purchasing Managers Index shows 60.4% as of April and the New Orders Index averaged 61.6% for the last 10 months. Employment within the manufacturing industry is also showing steady growth.

What do all of these numbers mean for the trucking industry? Supply is steadily increasing, but not just for its own sake, it is coupled with a bright outlook for consumer demand.

Consumer conifdence has been wavering as of late, however, according to theConsumer Confidence Indexput out by Market Harmonics, consumer confidence is projected to rise. This steady increase in consumer confidence, along with a steady supply of goods and services will spur demand, and in turn, increase dependence on the trucking industry. All signs are pointing toward to gradual recovery from recession and an optimistic outlook for the trucking industry.

Surge of cargo theft is ‘hitting us like lightning,’ experts say

In the first quarter of 2024, cargo theft incidents were up more than 46% compared with the year prior, according to CargoNet. Notably, it’s also a 10% rise from the fourth quarter last year.

CargoNet analysis of the first quarter of 2024 documented 925 incidents, with an average stolen shipment value of $281,757. The declared total value was $76 million, and the firm estimated a total of $154.6 million worth of goods were stolen during the period.

Trucking innovation

Picture it: December 1935. The Douglas Aircraft company has rolled out the first DC-3 commercial passenger aircraft – a revolutionary, two-engine, all metal, low-wing aircraft that would soon dominate commercial aviation. Yet I suspect there were some industry people that said it was inadequate, that it didn’t have enough range, or carry enough weight, or that it was too costly.

FMCSA easing fleet requirements for under-21 pilot program

FMCSA officially removing driver-facing camera requirement from under-21 pilot

The Federal Motor Carrier Safety Administration announced via a Federal Register notice that will publish Tuesday, May 14, that it is removing two requirements from its under-21 interstate pilot program, as directed by Congress.

View All Our Resources

Bright Outlook for the Trucking Industry

Read More Articles

Surge of cargo theft is ‘hitting us like lightning,’ experts say

Trucking innovation

FMCSA easing fleet requirements for under-21 pilot program