Despite a planned slight rise in revenues and jobs this year, margins in the transport, travel and logistics industry are under pressure. Executives expect a profit decline of around three percent. The biggest brakes on growth are seen by 94 percent in the dilapidated infrastructure as well as existing capacity bottlenecks, particularly in roads and bridges and rail infrastructure. This conclusion comes from a current industry study by management consultancy Horváth, as reported in a press release dated September 19.
A selection of board and management members from 14 countries was surveyed, predominantly from the DACH region. The sample comprises 53 respondents, with whom in-depth personal interviews were conducted.
Transport and logistics companies see growth potential primarily in markets outside Germany according to the study results. Nevertheless: Instead of entering new markets, every second company plans to increase revenue in existing markets. The focus here is mainly on the development of the service portfolio through digital solutions.
„Many companies are currently pursuing a stabilization strategy,“ says Christian
Schnöbel, partner at Horváth. “They want to secure their market position and not take on additional risk by expanding into new markets. This is directly linked to the high volatility in the economic and geopolitical environment. The prevailing uncertainty is poison for investments.”
Environmental sustainability is losing relevance
Compared to the previous year, the strategic priorities of the surveyed executives have shifted markedly in the study results: Improving cost and profit structures ranks first for them. In the previous year, it was third. Cybersecurity occupies, given increasing connectivity, geopolitical tensions and rising IT security requirements, the second place, as in 2024. Digital transformation loses a bit of importance, but remains a central lever, both to address demographic challenges and to further increase process efficiencies.
Environmental sustainability loses clearly in relevance according to the study authors. Only 65 percent of the surveyed companies plan to become climate neutral before 2045. Although 70 percent of the companies formally commit to climate targets, concrete implementation plans are often lacking.
„Sustainability,
digitalization and cybersecurity remain important topics. But they must have a direct link to economic stability,“ says Schnöbel of Horváth. „For many companies profitability is currently at the center of all strategic decisions.“
Poor infrastructure and regulations slow things down
Whether road, rail, port or airport: 95 percent of the surveyed executives see the infrastructure that is inadequate both quantitatively and qualitatively as the biggest impediment to the sector’s future development. In addition, regulatory requirements are becoming increasingly stringent. 82 percent of the executives say that bureaucracy and political uncertainty prevent them from sustainably increasing their performance.
Also the politically demanded shift of transport to rail is viewed skeptically by the respondents in the Horváth study. Two-thirds of respondents doubt that this undertaking can succeed under the current framework conditions. “Investments in the rail network are a good start, but they are far from sufficient to make the system future-proof. Here, policymakers are called to address the challenges both financially and structurally. Otherwise, large parts of the
provided investment funds will fizzle out without effect,” says Horváth expert Schnöbel on the results.
US tariffs and geopolitical tensions remain important
Compared with other industries, companies in the transport and logistics sector report negative impacts from US tariffs more frequently—even though these remain largely moderate. In particular, logistics companies or freight forwarders feel the effects indirectly, for example through lower shipment volumes.
AI potential still underutilised
Although many companies have implemented initial AI applications, the overall maturity level in the industry is still low, according to the study authors. Particularly in data-driven decision-making, the potential remains largely untapped. Only 20 percent of companies have fully integrated AI tools in customer service. Nevertheless, the respondents expect a double-digit productivity gain over the next three years—primarily in middle management.
„The expectations for AI are high, but the path from the pilot phase to operational daily use is longer than expected,“ says Schnöbel. „Who scales now can secure decisive efficiency gains—and position themselves as resilient with regard to demographic
