Transport equipment manufacturing includes the manufacture of aircraft and other aerospace equipment, railroad equipment, motor vehicles and auto parts, motorcycles and bicycles, as well as the building, repairing and breaking of ships.
The sector has recently been shaped by two big issues: the globalization and the economic crisis. Globalization has profoundly changed the structure of the sector: new markets and production locations are emerging (i.e. the rise of China as the biggest car producer and market); new technologies are being developed (i.e. electric cars); the part and component industry is growing fast and is becoming more and more important to the whole automotive industry. The economic crisis hit hard the motor vehicle production as both the consumers and the companies were affected by the credit crunch. However, the crisis also presents good opportunities: it triggered a restructuring of the sector and pushed the producers toward greener cars. Shipbuilding also experienced a slump, with many orders being cancelled. Ship recycling, however, is a counter-cyclical industry and it was booming through the crisis.