TRANSPORTATION IN THE US

Euromonitor International August 2013

TRANSPORTATION IN THE US

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LIST OF CONTENTS AND TABLES

Headlines ..................................................................................................................................... 1 Trends .......................................................................................................................................... 1 Airlines.......................................................................................................................................... 3 Competitive Landscape ................................................................................................................ 4 Prospects ..................................................................................................................................... 6 Category Data .............................................................................................................................. 6 Table 1 Table 2 Table 3 Table 4 Table 5 Table 6 Table 7 Table 8 Table 9 Transportation Sales by Category: Value 2007-2012 ................................... 6 Transportation Sales by Channel: Value 2007-2012 .................................... 6 Airline Capacity 2007-2012 .......................................................................... 7 Air by Category: Passengers Carried 2007-2012 ......................................... 7 Airline Passengers Carried by Distance 2007-2012 ..................................... 7 Airline National Brand Owner Market Shares 2008-2012 ............................. 8 Airline Brands by Key Performance Indicators 2012 .................................... 8 Forecast Transportation Sales by Category: Value 2012-2017 .................... 8 Forecast Transportation Sales by Channel: Value 2012-2017 ..................... 9

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TRANSPORTATION IN THE US
HEADLINES
Transportation value sales increase by 4% in current terms in 2012 to US$173 billion Airline industry consolidates as value sales improve Delta Airlines Inc the largest airline in terms of value sales and passengers, followed by United Continental Holdings Inc and AMR Corp Transportation anticipated a constant value CAGR of 3% to 2017

TRENDS
Consolidation has been a key feature in US transportation, with Continental Airlines subsumed by United Airlines in 2012 (now United Continental Holdings Inc) and American Airlines merging with US Airways to form American Airlines Group Inc the worlds largest airline - in early 2013. This marks one of the busiest periods of reorganisation in the US airline industry as it responds to a troubled performance over the past decade and a series of bankruptcies driven by volatile fuel prices, weak consumer demand and labour disputes. After the latest round of mergers, three companies (including the leader Delta) now control approximately 66% of scheduled airline value sales in the US, and the vast majority of US passenger traffic. The transportation industry continues to dig its way out of the economic downturn, although growth slowed to 4% in 2012 from 11% in 2011. A rocky performance after the 11 September 2001 attacks was followed by a period of moderate growth through 2008. During the global recession of 2009, value sales for the overall transportation industry plummeted by 18%. It took two years of growth to recover lost value sales from this period, with the airline industry among the hardest hit in US transportation. Cruise value sales increased by 4% in current terms in 2012 to US$18.3 billion. According to Cruise Lines International Association (CLIA), 13 new ships were introduced in 2012, with 17,774 beds. An additional 24 ships are expected in the next two years (although lower capacity liners are anticipated). New locations (both international and domestic, including river tours) are a prime driver of sales for regular cruise travellers, although the industry faces a challenge in appealing to newer demographics. One strategy is to attract families to the cruise industry, with considerable brand owner investment in cruise entertainment options that engage all ages. In December 2012, the organisers of the popular Californian music festival Coachella partnered Celebrity Cruises (Royal Caribbean Cruises Ltd) to launch the SS Coachella festival, attracting popular music artists and a much younger demographic to the cruise industry. Despite positive growth, the US cruise industry suffered from poor publicity after several highprofile mishaps. In January 2012, the Costa Concordia (Carnival Corporation & plc) hit rocks off the west coast of Italy, grounding the ship and resulting in catastrophic damage. 32 passengers were killed or presumed killed in the incident. In February 2013, the Carnival Triumph (Carnival Corporation) suffered a major fire in the Gulf of Mexico. Although no passengers or crew were killed or injured, the fire left the ship stranded without power for four days. The conditions on board the ship deteriorated considerably, resulting in distress to those on board. Both incidents resulted in negative publicity for Carnival and the cruise line industry in general.

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Airline ticket prices are estimated to have increased by 2% in 2012, with a rise of 28% since the collapse of 2009. Higher pricing has been a necessity for the airline industry, with passenger volumes slower to recover and volatility in fuel pricing affecting profits. Ancillary revenues have also been a key driver as US schedule and low-cost airlines adopt the European low-cost model of lower fares supplemented by higher fees for other services. The US rail industry declined by 1% in current value terms in 2012, with sales of US$1.9 billion for the year. Despite growth early in the review period and increased passenger traffic on many national lines, the US rail service (operated by government-backed Amtrak) is suffering from a lack of recent infrastructure investment. Outlays are ultimately anticipated over the long term, with plans for high speed rail lines in the busy northeast corridors (NEC), popular with commuters between urban and suburban areas of New York City, Boston, Baltimore, Philadelphia and Washington DC. Around 427 miles of high speed rail line are planned for this regional network, although operational lines will not be available until 2030. Ambitious national high-speed rail initiatives conceived as part of a federal stimulus package in 2009 have made slow progress in implementation, but 2012 saw the US state of California independently approve a US$5.8 billion plan to implement a high-speed rail line in the central part of the state, connecting San Francisco and Los Angeles. The service is anticipated to come on line between 2021 and 2028. Long distance rail travel is a loss-making enterprise in the US, with Amtrak dependent on shorter commuter and regional tourist routes for profitability. Funding for the subsidised long distance routes is a matter of political controversy in the US, with cash-strapped (and fiscally conservative) US state governments reluctant to fully fund interstate rail lines without federal assistance. Low-cost intercity bus services have grown rapidly in the US as an affordable travel alternative, with the ubiquitous Greyhound brand being challenged by upstart curbside bus services such as Megabus and BoltBus. Bus/coach value sales increased by 3% in 2012 and 12% since 2009. Low-cost intercity bus travel is also a competitor to intercity rail, with privately-operated bus companies championed by opponents of state subsidies for Amtrak. However, a series of high-profile traffic accidents in 2012/2013 and lack of regulation have raised questions about the future of curbside intercity bus services. Two-thirds of transportation value sales took place online in 2012. Since 2009, value sales through online direct suppliers have outpaced sales through online transportation intermediary websites. Transport operators particularly major airlines continue to make major investments in their online platforms, including mobile commerce applications. Additionally, travel aggregators have partnered major airlines to offer attractive deals direct to consumers, directing web traffic to airline-operated websites. In March 2013, the US federal budget was subjected to a series of automatic and deep spending cuts, controversially enacted as a fiscal austerity measure. The contentious cuts known as sequestration impacted many areas of government funding, including the Federal Aviation Administration (FAA). The FAA announced US$637 million in mandatory cuts by furloughing employees, including security agents and 13,000 air traffic controllers. Within months, this policy resulted in major passenger delays at American airports as well as safety concerns. By May 2013, Congress authorised a new resolution to end furloughs of air traffic controllers in an attempt to restore stability to US passenger air travel. The impact of sequestration cuts will continue to be felt by the aviation industry. Implementation of US air traffic controls vaunted NextGen (Next Generational Air Transportation System), a satellite positioning technology intended to reduce delays and fuel costs while improving safety, could be hard hit by the spending cuts.

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Additional passenger protection legislation took effect in January 2012, with airlines now required by the US Department of Transportation to notify passengers of delays of longer than 30 minutes. Additional new regulations in 2012 included a stipulation that passenger reservations may be held or cancelled without a penalty for 24 hours after initial booking. Airline marketing of ticket fares must also now include total government taxes and additional mandatory fees as part of the published price.

AIRLINES
The US airline industry underwent a rollercoaster ride in the decade between 1999 and 2009, with value sales contracting by 21% over 2000-2002, rebounding through 2008 and then declining by 18% during the 2009 global economic crisis. Annual passenger trips have yet to reach the 2007 total, with 759.7 million air travellers in 2012. Passenger demand is sensitive to economic conditions in the US, with high fuel prices and labour turmoil also playing a role in the unpredictable environment. Overall capacity increased by just 1% in 2012, to 918 million people. Capacity levels remain well below their 2007 peak, with airlines wary of investing in additional aircraft due to fluctuating demand. Furthermore, capacity trends vary by airline type, with the low-cost segment growing faster than traditional scheduled carriers. After a small blip in 2008/2009, low-cost carrier capacity has increased through the existing investment of established carriers (Southwest) and the growth of newer carriers (including JetBlue, Virgin America and Spirit). The capacity of traditional schedule carriers has shown a negative trend, with a decline of 12% over 2007-2012. Capacity reductions have been seen as necessary by the industry to regain pricing control. The price gap between low-cost carriers and schedule carriers generally increased over the review period, although low-cost carrier ticket prices are estimated to have increased by 5% in 2012 while schedule airline ticket prices increased by just 2%. Ancillary revenues most notably baggage fees have increased as part of airline revenue structure. Other fees include on-board wireless internet access (increasingly common across major carriers), food, beverages and priority boarding passes. US airports are a major source of infrastructure investment despite fiscal austerity measures at federal level as locally operated US airline facilities (substantial regional employers) struggle to keep pace with new airports in rival global cities. In 2012, new terminals opened at the Atlanta Hartsfield-Jackson International Airport the busiest hub in the US and at Las Vegas McCarran International Airport. Expansion projects continue at other major facilities throughout the country, including Kennedy Airport in New York (Terminal 4), LaGuardia (a new Delta Airlines hub in 2012) and Los Angeles International Airport. Long-haul flights accounted for 70% of all airline passenger trips in the US in 2012, a figure which has remained mostly unaffected by turmoil in the industry. Substantial travel distances between major US cities ensure that this figure is unlikely to change in the near future. The number of charter carrier passengers declined by 8% in 2012, while value sales dropped by 12% to US$3.6 billion. Value sales per passenger (ticket prices) have declined by 26% since 2007, with declines partially attributable to plane -sharing services like Netjets and Flight Options. While private jet travel remains prohibitively expensive for regular travellers, plane-sharing operations have made charter travel more affordable for mid-size and large businesses which depend on regular travel to markets which are underserved by schedule airline carriers. Airline fuel price increases were more moderate than in previous years, with fuel costs increasing by just 3% in 2012 according to the Bureau of Transportation Statistics. This

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contrasts with increases of 18% and 28% in 2010 and 2011, respectively, with the latter year providing some respite for US airline carriers. Nevertheless, volatility in fuel prices will impact the strategic thinking of American carriers as they consider fleet procurement and route strategies in the wake of recent consolidation through merger. While airline travel remains an environmentally-unfriendly mode of transportation, airlines continue to experiment with biofuels and fuel blends to mitigate damage, with United Airlines first trialling a biofuel blend in 2011. Fleet age is also a driver of fuel-burn inefficiencies, with average aircraft age ranging from 12-15 years for the major US schedule carriers. Fuel efficiency through high performance next generation airliners will therefore be a primary green strategy in airline acquisition strategies. The Boeing 787 Dreamliner a next generation wide body aircraft is marketed by its manufacturer as having greater (in some cases 20-40%) fuel-burn efficiency than comparable models. However, the aircraft had a troubled launch in 2012, with a temporary grounding in early 2013 by the US FAA after a series of battery fires. Single-aisle, mid-range airliners such as the Boeing 737 extended range models and Airbus A320 - are the workhorses of the US fleet, featuring extensively in domestic routes. This trend will increase as operators of the ageing MD-80 (predominantly American Airlines and Delta Airlines) seek affordable replacements. Both US schedule and low-cost airliners typically seek to maximise their domestic strategies around versatile mid-range aircraft, with plane manufacturers marketing new longer-range, higher efficiency variants. These new generation aircraft, which include the 737 MAX and A320 NEO as well as the longer range Boeing 787 will be at the centre of airline purchasing decisions for the near future. From January 2013, American Airlines had outstanding orders for 130 A320 NEO aircraft, 100 Boeing 737NG aircraft and 130 A320 short-haul aircraft, according to PricewaterhouseCoopers. M-commerce platforms are a unique challenge for the airline industry, with carriers seeking to balance traveller (particularly business traveller) demand for smartphone technology integration with the security implications of their business. While online booking is an important avenue to pursue, airlines are more eager to integrate paperless ticketing and boarding passes through smartphone platforms, technology which can help to speed up the boarding process for travellers and improve efficiency for the carrier. Both Android and iOS (iPhone) operating platforms have some form of online boarding application available, with many of the major schedule brands (and some low-cost competitors) also offering the service.

COMPETITIVE LANDSCAPE
Delta Airlines Inc (Delta) retained its position as the leading player in 2012 with value sales of US$28.1 billion. United Continental Holdings Inc (United, post-merger) ranked second with sales of US$27.9 billion. Southwest Airlines Co (Southwest) was the leading low-cost carrier, with value sales of US$17.5 billion in 2012. Southwest was the second ranked airline overall among both schedule and low-cost carriers in terms of passengers carried in 2012, behind only Delta. In December 2012, Delta announced the acquisition of a 49% stake in Virgin Atlantic a British-based transatlantic carrier from Singapore Airlines for between US$300-500 million. The deal increases the global reach of the USs largest domestic carrier, providing code sharing access to the global hub of London Heathrow from the airlines New York hubs. This represents the largest transatlantic route in terms of passengers and is the most lucrative for airlines. AMR Corp (American) ranked third in 2012 with sales of US$21.2 billion. The February 2013 merger of US Airways Group Inc and AMR Corp into American Airlines Group Inc (retaining the American brand name) is expected to create the largest airline in the world from year-end

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2013. Although the merger received the bankruptcy judges approval, it is still awaiting approval from the anti-trust authorities, which is likely to happen in 2013. The new American Airlines has rebranded, distinguishing itself with new aircraft livery and an integrated media campaign. American will add the US Airways second-tier hub cities of Charlotte, Philadelphia, Phoenix and Washington Reagan airports to the larger hub presence enjoyed by American Airlines in Dallas, New York Kennedy, Los Angeles International, Miami and Chicago OHare. While American is certain to emerge from bankruptcy in a far stronger position, the lack of US Airways presence in major US cities will still force the airline to work hard to compete against the strength of United (Chicago OHare headquartered) and Delta (strong domestic route network in New York). In 2012, United Airlines (United Continental Holdings Inc) continued the process of integration with its 2011 merger partner, Continental Airlines. The union was fraught with difficulties in 2012, however, with technical difficulties in using the Continental reservation and frequentflyer systems angering passengers, causing a substantial increase in passenger complaints. Labour contracts between employees from both companies must still be agreed, while additional merger-related expenses led to an operating loss during the fiscal year. Harmonising business practices between the two brands will be a strategic focus in 2013. Virgin America, a 2007 entrant to the US aviation industry, enjoyed value sales growth of 29% to US$1.3 billion in 2012 after significant route expansion. The company has expanded its operations substantially since its launch, primarily along the west coast, with destinations in Chicago, New York, Las Vegas, Dallas and Washington. In July 2012, low-cost carrier Southwest Airlines began to sublease its fleet of Boeing 717 short-haul airliners to category leader Delta. The company incurred US$100 million in conversion costs for the fleet, which it acquired after a 2011 merger with AirTran. Southwest is famous for operating a fleet of one airliner, the Boeing 737, to cut down on maintenance costs. The sale of the Boeing 717 airliners represents a return to the core strategy of Southwest, with the AirTran brand likely to be subsumed under Southwest. This marks another step in the long process of merging the business practices of two carriers. United Airlines introduced the first Boeing 787 mid/long range wide-body aircraft to the US market in November 2012. The ultra-efficient dual engine jet was temporarily grounded in January 2013, however, after a series of battery problems. The airliners returned to service in May 2013 after the problem was satisfactorily resolved by the manufacturer. Fleet and route expansion was limited in 2012, and merger shake-ups compelled carriers to develop new brand strategies. One of the major route expansions initiated during the year was the result of Delta Airlines expanded operations in New York LaGuardia, opening a new hub and offering an additional 100 flights from the renovated airport. Southwest increased operations out of Atlanta, while US Airways (acquired by AMR Corp in February 2013) expanded operations in the south of the country from its Washington hub. The livery of United Airlines has been gradually changed to that of its merger partner Continental Airlines while the fleet is being rebranded to the United name. American Airlines conducted a significant marketing exercise of its own in January 2013, wit h a Change is in the air campaign to reveal the new logo and livery of American Airlines after its merger with US Airways. Airlines also continue to experiment with the best means of integrating social media platforms into their brand strategies. In May 2013, American Airlines announced a limited promotion in which passengers with high Klout scores (a popular online metric for social media presence) were given complimentary access to the American Admirals Club lounge at selected airports.

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PROSPECTS
Transportation in the US is anticipated a constant value CAGR of 3% over the forecast period, with value sales set to reach US$202.7 billion in 2017. Air travel will be the main engine of growth, reaching sales worth US$175.7 billion the same year. Air traffic is expected to surpass the previous 2007 record with 767.5 million passengers in 2013, growing to 859.5 million in 2017. The frenzied period of industry mergers is likely to see a pause as schedule airlines seek to integrate new businesses rather than form new partnerships. Industry consolidation will give schedule carriers greater control over pricing, particularly on long-haul international routes where they face no significant competition from low-cost carriers. Airline capacity for schedule carriers decreased by 12% over 2007-2012, and is only expected to rebound by 8% over the forecast period as airlines slowly replace ageing aircraft with fuel-efficient next-generation replacements, while seeking to maximise load factors on high traffic routes. Volatility in fuel prices and labour costs will remain the two major obstacles for US airlines, which have struggled to keep pace with the level of service offered by their international competitors. Furthermore, the airline industry has proven vulnerable to economic and geopolitical events, such as major terrorist attacks. An unexpected economic downturn or crisis in consumer confidence in the US would have a negative impact on US airline travel. Within the wider realm of transportation, rail travel will benefit from (long delayed) infrastructure investment, achieving a constant value CAGR of 4% to 2017, making it the best performing transportation category. The cruise industry is forecast to grow to US$20.6 billion in 2017, with a strong pipeline of new ships expected and a new potential market of retiring baby-boomers. The online channel is expected to account for 69% of total transportation value sales in 2017. Within the airline industry alone, the online channel will account for 74% of total value sales. Intermediaries will continue to enjoy a greater share of total transportation value sales as both direct suppliers and intermediary websites improve their e-commerce platforms.

CATEGORY DATA
Table 1 US$ million 2007 Airline Passengers - Charter - Low Cost Carriers - Schedule Other Transportation - Bus/Coach - Chauffeur-driven Car - Cruise - Ferry - Rail Transportation
Source:

Transportation Sales by Category: Value 2007-2012

2008 131,381.9 3,842.7 20,025.4 107,517.9 23,222.8 3,687.0 17,391.4 188.5 1,955.4 154,604.7

2009 107,091.3 3,285.5 18,511.4 85,289.0 19,926.2 3,339.0 14,600.4 172.3 1,813.5 127,017.5

2010 128,930.1 3,381.0 21,487.4 104,056.3 21,295.4 3,449.2 15,696.4 176.1 1,973.9 150,225.4

2011 143,835.1 4,080.4 26,091.3 113,661.5 23,285.0 3,621.7 17,590.0 176.6 1,897.4 167,120.0

2012 148,902.5 3,586.4 28,308.9 117,011.7 24,122.6 3,729.3 18,328.8 181.4 1,882.9 173,025.1

120,143.8 4,911.0 19,831.8 95,399.3 21,171.9 2,596.1 16,680.1 165.2 1,730.9 141,315.8

Euromonitor International from official statistics, trade associations, trade press, company research, trade interviews, trade sources

Table 2

Transportation Sales by Channel: Value 2007-2012

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US$ million 2007 Transportation Online - Transportation Direct Suppliers - Transportation Intermediaries - Air Online - Other Transportation Online Transportation Offline - Air Offline - Other Transportation Offline Transportation
Source: Note:

2008 93,173.9 40,775.7 52,398.2 86,250.7 6,923.1 61,430.8 45,131.1 16,299.7 154,604.7

2009 81,342.3 34,204.6 47,137.6 75,447.4 5,894.9 45,675.3 31,643.9 14,031.4 127,017.5

2010 96,334.6 42,299.8 54,034.8 89,788.5 6,546.1 53,890.9 39,141.6 14,749.3 150,225.4

2011 107,038.1 50,073.5 56,964.6 99,678.3 7,359.9 60,081.9 44,156.8 15,925.1 167,120.0

2012 114,398.2 54,046.4 60,351.9 106,642.7 7,755.6 58,626.8 42,259.8 16,367.0 173,025.1

89,301.5 38,318.8 50,982.7 83,092.0 6,209.5 52,014.2 37,051.8 14,962.4 141,315.8

Euromonitor International from official statistics, trade associations, trade press, company research, trade interviews, trade sources Others refers to offline sales made face to face or by phone

Table 3 mn persons

Airline Capacity 2007-2012

2007 Airline Capacity - Charter - Low Cost Carriers - Schedule

Source:

2008 942.9 8.7 238.4 695.8

2009 878.1 8.1 230.0 640.0

2010 893.6 9.0 249.8 634.8

2011 908.2 9.6 261.2 637.4

2012 918.0 9.0 269.5 639.4

975.1 9.7 240.3 725.1

Euromonitor International from official statistics, trade associations, trade press, company research, trade interviews, trade sources

Table 4 mn persons

Air by Category: Passengers Carried 2007-2012

2007 - Charter - Low Cost Carriers - Schedule

Source:

2008 5.1 181.1 553.1

2009 4.7 181.0 514.6

2010 5.3 202.5 521.2

2011 5.8 214.3 529.5

2012 5.3 221.7 532.7

5.5 181.4 579.3

Euromonitor International from official statistics, trade associations, trade press, company research, trade interviews, trade sources

Table 5 mn persons

Airline Passengers Carried by Distance 2007-2012

2007 Airline Passengers - Long Haul - Short Haul

Source:

2008 739.3 522.9 216.5

2009 700.3 497.2 203.1

2010 729.0 514.6 214.3

2011 749.7 526.8 222.9

2012 759.8 530.8 228.9

766.2 540.6 225.6

Euromonitor International from official statistics, trade associations, trade press, company research, trade interviews, trade sources

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Table 6 % retail value rsp Company

Airline National Brand Owner Market Shares 2008-2012

2008 19.4 15.0 8.2 8.7 2.8 2.2 0.3 10.7 8.4 1.9 0.3 22.2 100.0

2009 19.1 15.4 9.5 8.7 3.3 2.4 0.5 10.8 8.5 2.0 19.7 100.0

2010 18.1 17.9 14.4 9.2 8.2 3.2 2.3 0.5 1.9 24.4 100.0

2011 18.3 19.0 14.0 11.2 8.1 3.3 2.7 0.7 22.9 100.0

2012 18.9 18.7 14.2 11.8 8.0 3.6 2.8 0.9 21.1 100.0

Delta Airlines Inc United Continental Holdings Inc AMR Corp Southwest Airlines Co US Airways Group Inc JetBlue Airways Corp Alaska Airlines Inc Virgin America Inc UAL Corp Continental Airlines Inc AirTranHoldings Inc ATA Holdings Corp America West Holdings Corp Northwest Airlines Corp Others Total
Source:

Euromonitor International from official statistics, trade associations, trade press, company research, trade interviews, trade sources

Table 7

Airline Brands by Key Performance Indicators 2012 Average Price per Passenger (Local Currency) % Average load factor Number of people

AirTran Alaska Airlines American Delta Horizon Air JetBlue Others Southwest Airlines Total United Airlines United Express US Airways Virgin America
Source:

124.2 187.2 208.6 185.4 93.3 186.9 131.4 215.1 164.8 155.9 198.6

82.9 87.0 82.8 84.4 79.6 83.8 81.5 82.9 80.1 84.7 80.2

21,921.8 18,522.4 86,335.1 114,063.3 7,343.0 28,956.2 63,538.7 112,474.4 754,398.8 93,595.0 46,846.0 54,309.0 6,488.9

Euromonitor International from official statistics, trade associations, trade press, company research, trade interviews, trade sources

Table 8 US$ million

Forecast Transportation Sales by Category: Value 2012-2017

2012

2013

2014

2015

2016

2017

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Airline Passengers - Charter - Low Cost Carriers - Schedule Other Transportation - Bus/Coach - Chauffeur-driven Car - Cruise - Ferry - Rail Transportation
Source:

148,902.5 3,586.4 28,308.9 117,011.7 24,122.6 3,729.3 18,328.8 181.4 1,882.9 173,025.1

155,259.0 3,599.0 30,576.2 121,082.7 24,825.2 3,841.2 18,869.5 183.8 1,931.2 180,084.2

160,643.9 3,600.1 31,962.8 125,074.7 25,289.1 3,898.8 19,209.1 185.8 1,996.2 185,933.0

167,017.6 3,602.3 33,454.4 129,968.3 25,800.3 3,923.4 19,612.5 187.6 2,078.0 192,817.9

172,224.8 3,556.1 34,414.6 134,258.1 26,367.4 3,933.6 20,069.5 189.2 2,175.7 198,592.2

175,657.9 3,523.2 35,356.7 136,785.2 27,062.2 3,956.4 20,641.5 190.6 2,274.3 202,720.2

Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources

Table 9 US$ million

Forecast Transportation Sales by Channel: Value 2012-2017

2012 Transportation Online - Transportation Direct Suppliers - Transportation Intermediaries - Air Online - Other Transportation Online Transportation Offline - Air Offline - Other Transportation Offline Transportation
Source: Note:

2013 118,720.1 55,071.1 63,649.0 110,684.4 8,035.6 61,364.1 44,574.5 16,789.6 180,084.2

2014 122,163.6 55,916.6 66,247.0 114,059.0 8,104.6 63,769.4 46,584.9 17,184.5 185,933.0

2015 127,424.6 58,370.4 69,054.1 119,048.0 8,376.6 65,393.3 47,969.6 17,423.7 192,817.9

2016 133,809.5 62,086.1 71,723.4 125,171.8 8,637.6 64,782.7 47,052.9 17,729.8 198,592.2

2017 139,193.5 65,207.5 73,986.0 130,301.2 8,892.3 63,526.7 45,356.7 18,169.9 202,720.2

114,398.2 54,046.4 60,351.9 106,642.7 7,755.6 58,626.8 42,259.8 16,367.0 173,025.1

Euromonitor International from official statistics, trade associations, trade press, company research, trade interviews, trade sources Others refers to offline sales made face to face or by phone

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