Heavy Construction Scored Big With Revenue Growing 17% in 2002
Civil works contractors did most of the industry's heavy lifting in 2002. While total domestic revenue for the Top 400 contractors slipped 2.9% last year, firms in heavy and highway markets piled up double-digit increases. Despite slowdowns now apparent, firms in 2002 were able to tap strong transportation, environmental and water utility markets for $36.1 billion in reported revenue, a 16.9% increase from the previous year.
The transportation market contributed $24.4 billion in revenue for heavy contractors, a 25% increase over 2001's level. Top 400 heavy contractors also reported $2.6 billion in revenue from water utility construction, an 8.3% increase; and $3 billion in revenue from sewer and wastewater treatment work, a 7.1% increase over 2001's level. The hazardous waste market held steady last year at $6.1 billion, after jumping 29% in 2001.