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The LTL industry provides transportation
of partial-load shipments that go to one or more
destinations or full trailer-load shipments going
to multiple destinations.
The LTL is a $39 billion industry and is comprised
of two distinct segments:
1. National LTL, in which participants operate
a "hub-and-spoke" network with an average
length of haul of 1,200 to 1,400 miles. Growth
is dependent on accelerated economic activity
and competitor failures. The estimated size of
the national LTL segment is $12 billion.
2. Regional LTL, which is characterized by numerous
carriers, typically nonunion, that operate a modified
hub-and-spoke network, with an average length
of haul of 200 to 600 miles for most freight.
Growth in this segment is dependent on consolidation
within the marketplace, the shift toward more
regionalized freight patterns by shippers, and
general economic growth. The regional LTL segment
is highly fragmented, with the top 20 participants
accounting for roughly 50% of the estimated $27
billion market.
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