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.
Investment in passenger rolling stock across North America, which includes high-speed rail, light rail, metro, passenger coaches and locomotives, is expected to increase 4.7% per year between 2021 and 2026, according to a projection from McKinsey & Company.
Aside from the government, private companies are also working on beefing up passenger rail in the country.
Brightline has already built out its passenger rail service in Florida, and its sister company, Brightline West, is working on a high-speed passenger rail line between Las Vegas and Southern California.
CNBC visited railcar manufacturers Siemens and Alstom to see how they are ramping up passenger train production and to learn how the companies view the future of passenger rail in the U.S. Watch the video to find out more.
Persons:
Marc Buncher, Scott Sherin, We've, Brightline
Organizations:
Investment, McKinsey & Company, Infrastructure Investment, Jobs, Siemens Mobility North, CNBC, Alstom, Amtrak, Alstom U.S, Siemens, U.S .
Locations:
U.S, North America, United States, Hornell , New York, Europe, Florida, Las Vegas, Southern California