The real value of work done on airport runways is expected to fall 10% to $5.3 billion. Flat funding for the Airport Improvement Program and continued failure by Congress to pass a new aviation reauthorization program are key reasons for the reduction. The airport runway market also benefited from increased ARRA-related spending in 2009 and 2010.
The real value of transit and rail work is forecast to drop slightly from $15.3 billion in 2010 to $14.9 billion in 2011. The longer term outlook for this sector will depend on federal investment through the New Starts program, private rail investment and the general state of the U.S. economy, Black says.
Established in 1902, ARTBA represents more than 5,000 public and private sector members of the U.S. transportation design and construction industry.