Did you know the trucking logistics industry handles more than 70% of all the freight moved in the United States? Almost all industries and businesses rely on trucking logistics to receive raw materials and deliver finished goods all across the country. According to Business Insider, the trucking industry is worth hundreds of billions of dollars, which makes it vital to its growth.
In other words, the United States relies heavily on the trucking industry. If it comes to a halt, the entire nation would be affected. From the shipping of manufactured goods to waste removal, almost all critical industries in the nation are dependent on trucking logistics to meet consumer demand.
The Importance of Trucking Logistics to the Economy
So, what role does the trucking industry play in the overall economy? Let’s take a look.
Transporting Raw Materials
The trucking industry transports much more than just cargo and vehicles. It contributes to the economy by picking raw materials from forests, farms, mines, quarries, and local suppliers. Trucks also deliver these materials to different factories to manufacture their products.
These factories then use trucking logistics to transport their finished goods such as medicine, food, textiles, and other items to different wholesalers and retailers.
Shipping Goods Around the World
Along with delivering finished goods to local businesses, trucks also transport a variety of products to other transportation conduits such as trains, airplanes, and ships. From there, these items are shipped to a multitude of destinations around the world.
It won’t be wrong to say that every type of product, be it coal and petroleum or furniture and vehicles, has traveled on a truck at one point or another. According to the American Trucking Associations, the trucking industry generated $700 billion in revenue in 2017. Trucks also moved almost 11 billion tons of freight that year.
Trucking is one of the most stable and lucrative career opportunities out there. As per Business Insider, about 800,000 truck drivers are working in the country. Moreover, trucking logistics accounts for nearly 6% of all the full-time jobs in the nation.
Collectively, truck drivers in the US earn about $30 billion per year. While some larger corporations employ their truckers, almost all other businesses hire the services of one trucking logistics company or the other to ship their products.
However, despite being a lucrative career, the trucking industry is still facing a shortage of drivers. According to American Trucking Associations Chief Economist Bob Costello, the trucking industry required at least 60,000 drivers before the pandemic. The number is likely to have increased since then.
Final Thoughts on Trucking Logistics
The trucking industry contributes massively to the US economy both by moving freight and offering job opportunities. According to Transport Topics, economists expect the industry to experience a sharp growth in the second half of 2021. This is after life begins returning to normal following COVID-19 vaccinations.
If you’re interested in becoming a part of this booming industry, the CDL Truck Driving School in Michigan can turn your dreams into reality.
For more information, please feel free to contact us.