$34.4bn
$X.Xbn
100k
18,347
$X.Xbn
Heavy engineering contractors complete projects such as constructing oceanic navigational channels, beach dredging, mass transit support construction, tunnels, hydroelectric power plants and conservation development. Most of these projects are carried out by state and local governments independently or in conjunction with the federal government, so industry revenue tracks most closely with movements in public funding. Over the past five years, heavy engineering construction revenue has expanded at a CAGR of 1.1% to reach $34.4 billion in 2024, when revenue is set to grow 0.1%.
Industry revenue has grown at a CAGR of 1.1 % over the past five years, to reach an estimated $34.4bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Jacobs Engineering Group Inc. | 1,189.3 | 66.4 | 5.6 | |
Aecom | 1,053.0 | 44.2 | 4.2 | |
Bechtel Corporation | 672.3 | 215.9 | 32.1 |
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Industry revenue is measured across several distinct product and services lines, including Marine construction, Conservation and development construction and Mass transit and railroad construction. Marine construction is the largest segment of the Heavy Engineering Construction in the US.
Railroad construction grows amid a rise in oil prices
Operators in this industry are primarily engaged in heavy and engineering construction projects, with the exception of highway, street, bridge and airport construction. Work performed includes new work, reconstruction, rehabilitation and repairs. The industry also includes specialty trade contractors, if they are primarily active in activities related to engineering construction projects. Construction projects include waterworks, marine facilities development and open space improvement.
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NAICS 23799 - Heavy Engineering Construction in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Public funding is vital for heavy engineering construction. With over two-thirds of industry revenue in 2024 coming from public sources, heavy engineering projects are somewh...
Learn about an industry's products and services, markets and trends in international trade.
Surging commodity prices, specifically in the price of oil, made railroad construction a lucrative product segment for heavy engineering enterprises. This dynamic has been ex...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
The Southeast's populous areas have a high concentration of heavy engineering construction. Coastal states benefit from added demand for ports and harbors due to their proxim...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Large companies with adequate resources often secure government contracts and grants, sidelining smaller competitors. These larger engineering firms typically hire subcontrac...
Learn about the performance of the top companies in the industry.
The Bechtel Corporation managed to support itself during a down period for the industry by successfully securing contracts with the US government relating to both defense and ...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The Biden administration's Infrastructure Investment and Jobs Act continues a trend of government investment in heavy engineering construction. The Inflation Reduction Act wi...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
The bloating of key input prices has profit gains for heavy engineering construction companies. Surges in both the price of steel and oil raised industry costs. Costs have mo...
Including values and annual change:
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Key data sources in the US include:
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The market size of the Heavy Engineering Construction in the US industry in United States is $34.4bn in 2024.
There are 18,347 businesses in the Heavy Engineering Construction in the US industry in United States, which has declined at a CAGR of 0.2 % between 2019 and 2024.
The market size of the Heavy Engineering Construction in the US industry in United States has been growing at a CAGR of 1.1 % between 2019 and 2024.
Over the next five years, the Heavy Engineering Construction in the US industry in United States is expected to grow.
The biggest companies operating in the Heavy Engineering Construction market in United States are Jacobs Engineering Group Inc., Aecom and Bechtel Corporation
Marine construction and repair and Mass transit and railroad construction are part of the Heavy Engineering Construction in the US industry.
The company holding the most market share in United States is Jacobs Engineering Group Inc..
The level of competition is moderate and increasing in the Heavy Engineering Construction in the US industry in United States.