Railcar manufacturing revenue in the U.S., including for freight trains, is expected to reach $2.9 billion by 2028.
Once a leader in passenger rail, the U.S. has since fallen behind many industrialized nations in rail funding and ridership — but investment is picking up.
"I think passenger rail in the United States has been a little bit slow in years past because of funding," Marc Buncher, president and CEO atMobility North America, told CNBC. "If you look at the federal funding that other nations get, it's tremendous. Federal funding is the one piece that we need. And now that we have it, I think you're going to see a tremendous amount of growth in the industry.
"Today you probably have about a half dozen different rolling stock suppliers in the U.S. that are building trains," Scott Sherin, chief commercial officer at Alstom U.S., said. "The challenge had always been the fragility of the supply chain behind them.
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