ARTBA is forecasting that light rail, subway and railroad construction will increase from $18.3 billion in 2014 to $20.9 billion in 2015.

• Subway and light rail work will increase from $7.1 billion to $8.3 billion.

• Heavy rail investment, largely by Class 1 freight railroads, will increase from $11.2 billion in 2014 to $12.6 billion in 2015.

• The increase in demand for freight transportation and multimodal connections will help spur investment in heavy railroads. This is, in part, being driven by the expansion of the Panama Canal and increased shipments of energy-related goods.

• Based on recent contract awards, states with upcoming projects include: Calif., Colo., Fla., Ill., N.Y. and Wash.

Airport Runways and Terminals

The total value of airport runway and terminal construction will grow from $12.5 billion in 2014 to $13.1 billion in 2015, according to ARTBA.

• Growth in the U.S. economy, enplanements and air freight traffic will support increased investment in this sector over the next five years.

• States with significant market activity include Calif., Colo., Fla., Ga., Ill., N.Y., Texas, and Va.

Ports and Waterways

The ports and waterway construction market will increase slightly to $2.8 billion in 2015, up from $2.7 billion in 2014.

• Continued investments from ports on the East and West coasts, in anticipation of the expansion of the Panama Canal in 2015, will help spur continued investment.

• Some states with increased investment in recent years include: Calif., Fla., La., Miss., N.J., Texas, Va. and Wash.

The ARTBA forecast is based on a proprietary econometric model and analysis of federal, state and local data and market intelligence.