Executive summary

Our survey received 1,006 responses from across the aviation, rail and shipping industries, providing an authoritative and wide-ranging examination of current views in the transport industry around the world.

When we first conducted this survey in 2009, concern was running high across the industry in light of the global financial crisis with aviation the most affected industry sector. In 2010, the picture was one of cautious optimism about a broad recovery. At that time Asia Pacific, in particular, was the most positive transport market. Our survey at the end of 2011, found the view across the industry was an increasingly polarised one with no consensus on the state of the transport industry as a whole.

Our survey this time reveals an industry still slowly recovering from the deep and prolonged impact of the financial crisis, and with divergent views and experiences. Alongside a gradual recovery, major concerns remain around securing adequate funding, infrastructure investment and rising costs, but positive strategies are being pursued or planned and a number of results point to a new optimism.

Key findings

  • Since 2010, 60% of respondents have made changes to the market segments in which they operate, the range of products or services they offer, or their geographical focus.
  • Among those respondents who had made changes to their business, or were planning to, the main change was to enter one or more new market segments.
  • Between 2010 and 2012, 46% of respondents reported a rise in their turnover, with 24% reporting a reduction. 44% of respondents had seen an increase in their fixed costs.
  • Between 2010 and 2012, 35% of respondents had increased their workforce and 23% had seen it reduce; 37% of respondents had seen an increase in the number of assets employed and 39% had seen an increase in the capacity of their assets employed.
  • Increased financial constraint was highlighted as one of the most significant changes to their business between 2010 and 2012 by 40% of respondents.
  • London was selected as the financial centre best able to meet their needs by the largest proportion of respondents, New York was second and Singapore third.
  • 56% of respondents are using or considering new sources of finance, and structured finance and private equity are the most popular new sources.
  • More efficient fuel consumption is seen as the key development focus for aviation and shipping whereas, in rail, technological improvement is seen as the main focus.
  • 35% of respondents have an order currently under way, or imminently due, for new aircraft, rolling stock or ships.
  • An overwhelming demand for government support with infrastructure provision remains right across the industry (as it has done since 2009); however only 35% of respondents believe that government support will be adequate for their sector over the next five years.

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