The U.S. transportation construction market will grow 3.1% from $185.9 billion in 2014 to $191.7 billion in 2015, according to a forecast released by the American Road & Transportation Builders Association.

ARTBA says its forecast for the largest segment of this market—highway, street and related work—is tempered by two key factors: uncertainty over long-term federal funding, which represents 52% of state department of transportation (DOT) capital outlays; and still-recovering state and local budgets.

Outside of construction, state and local governments are expected to spend an additional $38.5 billion for maintenance work, $13.2 billion for in-house and consultant planning and design services and $7 billion for right-of-way purchases as part of their highway and bridge programs.

Highways, Private Driveways & Parking Lot Construction/Pavement

• The construction market for highways, streets and related work, private driveways and commercial parking lots will grow to $64.9 billion, up 2.1% from $63.5 billion in 2014.
• This includes 1.2% growth in highway, street and related work, from $51.8 billion in 2014 to $52.4 billion in 2015. To put this market in perspective, the amount of work completed in 2009 was $67.3 billion.
• Contractors will have an additional $30-$40 billion in business opportunities from private highway and bridge work that is completed as part of housing developments and larger commercial structures, separate from parking lots and driveways.

Bridges & Tunnels

• Record growth is expected to continue in the bridge and tunnel construction market, increasing from $30.8 billion in 2014 to $31.3 billion in 2015.
• The national market is being driven by activity in 10 states, which account for over 57% of the market: New York, California, Texas, Pennsylvania, New Jersey, Washington, Illinois, Ohio, Massachusetts and Virginia.
• Bridge construction has grown from 19.6% of all highway and bridge work in 2000 to 37.3% in 2014. ARTBA says that the share of bridge work will continue growing in the next five years.

Light Rail, Subways & Railroads

• ARTBA is forecasting that light rail, subway and railroad construction will increase from $18.3 billion in 2014 to $20.9 billion in 2015.
• Subway and light rail work will increase from $7.1 billion to $8.3 billion.
• Heavy rail investment, largely by Class 1 freight railroads, will increase from $11.2 billion in 2014 to $12.6 billion in 2015.
• The increase in demand for freight transportation and multimodal connections will help spur investment in heavy railroads. This is, in part, being driven by the expansion of the Panama Canal and increased shipments of energy-related goods.

Airport Runways & Terminals

• The total value of airport runway and terminal construction will grow from $12.5 billion in 2014 to $13.1 billion in 2015, according to ARTBA.
• Growth in the U.S. economy, enplanements and air freight traffic will support increased investment in this sector over the next five years.

Ports & Waterways

• The ports and waterway construction market will increase to $2.8 billion in 2015, up from $2.7 billion in 2014.
• Continued investments from ports on the East and West Coasts, in anticipation of the expansion of the Panama Canal in 2015, will help spur continued investment.