The Definition of Expedited Shipping

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The shipping industry is currently, without question, at the absolute heights of their power. There are more people that use the shipping industry to get the items that they want on a daily basis than ever before. A lot of this comes from people ordering items online, also known as E-commerce shipping.

The LTL market is currently estimated to have a value of nearly $35 billion. LTL stands for less-than-truckload and specifically deals with, as the name states, shipments less than a truckload’s worth. This is one of the most popular types of shipping and ties right into the expedited trucking definition.

In 2013, trucking transported nearly 15 billion tons of cargo. The Bureau of Labor Statistics reports that by 2040, that number is expected to increase to 18.79 billion tons. This is because the expedited trucking definition deals with trucking and driving these trucks. LTL freight rates are going to be better as time goes on.

According to Satish Jindel, president of SJ Consulting Group, length of haul has declined. Public truckload carriers report that the average length of haul has decreased 4% between 2011 and 2016. So expedited trucking definition deals with expedited freight services and expedited freight companies.

According to the U.S. Department of Transportation, the value of freight moved is expected to increase from $882 per ton in 2007 to $1,377 per ton in 2040. Nearly 12 million trucks, rail cars, locomotives, and vessels move goods over the transportation network. So the expedited trucking definition is easy to understand.

According to the Federal Motor Carrier Safety Administration, approximately 5.9 million commercial motor vehicle drivers operate in the United States. U.S. e-commerce revenue is about $423.3 billion and is steadily climbing. Whether it’s full truckload, less-than-truckload, or parcel, carriers are being forced to adjust to changes in the retail industry.

The three most valuable commodities moved by the U.S. freight transportation system include machinery, electronics and motorized vehicles. Spending in the U.S. logistics and transportation industry totaled $1.48 trillion in 2015, and represented 8% of the annual gross domestic product.

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