For the first time in the industry’s history total revenue moved past $700 billion.
The $700.4 billion figure accounted for 80.3% of all freight transportation spending according to a report released earlier this month by the American Trucking Association (ATA).
"Last year, we saw freight volumes grow significantly," said ATA Chief Economist Bob Costello. "Increases in freight, combined with continued tight capacity helped drive revenues and coupled with lower fuel prices, we saw motor carriers go on a buying spree for new trucks as they replaced older equipment."
Highlights from the report include:
-In 2014, trucks moved 9.96 billion tons, or 68.8%, of all domestic freight.
-Trucking employed more than 7 million people, including 3.4 million drivers.
-Combination trucks logged 168.4 billion miles in 2013, or an average of 69,000 per truck.
-Since Deregulation, the number of registered motor carriers has grown by 68 times to more than 1.3 million carriers.
-Commercial trucks paid $16.5 billion in federal highway user fees in 2013