The automobile industry is surging ahead, with particularly sharp growth in the U.S. and China, including China’s emergence as the leading manufacturer of new cars for the export market (outpacing Japan for the first time). The global new automobile market was about 886 million units for 2023.

With the advent of revolutionary new technologies, the transportation industry was predicted to dramatically transform before our eyes. If you believed the hype from recent years, you might expect cities to soon be filled with fleets of self-driving robo-taxis, autonomous trucks, delivery robots, and electric cars and buses.

The global autonomous marine vehicles market reached a value of nearly $2.3 billion in 2022, having grown at a compound annual growth rate (CAGR) of 14.5% since 2017, according to the Autonomous Marine Vehicles Market Report 2023. 

Urban air mobility (UAM) is gaining traction globally as a viable transportation option. It envisions a future where a substantial portion of short-distance flights, traditionally operated by conventional airplanes, would be substituted by hybrid and electric vertical-take-off-and-landing (eVTOL) flight services such as air metro and air taxi. 

The agricultural industry is undergoing a significant transition as it embraces the power of electric technology. Electric farm tractors, with their efficiency, sustainability, and potential cost savings, are becoming a key focus for farmers and industry experts.

Electric vehicles (EVs) have become a symbol of sustainable transportation, offering a cleaner and greener alternative to traditional internal combustion engine vehicles.

The U.S. RVs industry posted record revenues and shipments in 2021 during the COVID-19 pandemic, as consumers sought ways to vacation safely. This was a major turning point and stimulus for the industry, as a new and younger demographic was introduced to the RV lifestyle.

Electric bikes (e-bikes) are helping to define the future of the bicycle market. They have developed technological breakthroughs that have been noticed by manufacturers and suppliers of the automotive industry. The category has also achieved unprecedented sales in major world economies for the past several years.

The global aircraft landing gear market is expected to grow from $13,348.5 million in 2023 to $19,538.5 million in 2027 at a compound annual growth rate (CAGR) of 10.4%, according to a new report from The Business Research Company titled The Aircraft Landing Gear Global Market Report 2023.

Recent innovations such as in-vehicle payments, with the integration of artificial intelligence (AI) and 5G connectivity in automotives, are transforming the user experience.