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SEARCHThe urban rail transit market is projected to reach $59 Bn by 2031 and it is projected to expand at a CAGR of 3.3% from 2021 to 2031, according to Transparency Market Research.
Urban rail transit systems are being sought after because mobility trends in urban areas are creating safer, faster, and affordable travel solutions.
Photo: Unsplash
The urban rail transit market is seeing a kick-start in revenue flow due to the increase in passenger movement and ridership with declining COVID-19 cases, new mobility trends, and more.
The market is projected to reach $59 Bn by 2031 and it is projected to expand at a CAGR of 3.3% from 2021 to 2031, according to Transparency Market Research.
The growth of the urban rail transit market can also be attributed to the success of Delhi Metro in India and the large volume of everyday commuters.
Urban rail transit systems are being sought after because mobility trends in urban areas are creating safer, faster, and affordable travel solutions.
There are current plans to integrate light rails with public transportation system to grow the market horizon. High passenger capacity per hour and lower operating cost per passenger are advantages of light rail.
Technology is also playing a role in the urban rail transit market. Systems are linking information and using communication technology (ICT)-enabled applications. ICT-enabled solutions are improving the experience for rail transit systems users.
The deployment of CCTV cameras and multimedia advertising is holding the interest of stakeholders in the value chain, as well.
According to Transparency Market Research, the demand for fully autonomous urban rail transit is estimated to expand at a CAGR of 5.35% during the forecast period, from 1,699 units in 2017. Sales are also anticipated to reach 2,781 urban rail transit units by 2030.
The region’s fixed-route system finished out the year with a total of 373.5 million rides. Adding 12.3 million rides over 2024 represents an increase that is equal to the annual transit ridership of Kansas City.
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The agency ranked top five among mid-sized U.S. transit systems, defined as agencies with 15 million to 50 million annual trips.
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The subway system saw increases across all key metrics, with 62% of subway riders reporting they feel satisfied with the system overall.
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The new contract for Keolis and VRE will commence in July 2026, with the potential to expand to 15 years.
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The priorities are outlined in the 2026 Board and CEO Initiatives and Action Plan, which serves as a roadmap to guide the agency’s work throughout the year and ensure continued progress and accountability on voter-approved transportation investments and essential mobility services.
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In this edition, we cover recent appointments and announcements at HDR, MCTS, and more, showcasing the individuals helping to shape the future of transportation.
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This final component of the 2 Line will cross Lake Washington and connect with the 1 Line at International District/Chinatown Station, creating a fully integrated regional light rail system.
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The agency’s selection aims to slash travel times from the San Fernando Valley to the Westside to under 20 minutes.
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Expected to enter service in 2029, these locomotives support the agency’s commitment to offer reliable and efficient rail transportation across South Florida.
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See how the agency’s transit project completed a Final Environmental Impact Statement within the federal two-year guideline.
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