Wheels up: Rising state budgets and an increase in school-aged children are expected to benefit the industry
Public School Bus Services in the US
The Public School Bus Services industry has a moderate level of market share concentration. The top three companies in the industry generate more than 35.0% of industry revenue, combined, each year. Moreover, these operators have slowly accrued an increasing combined market share over the past five years.
Major companies lead the way
o First Group PLC (First Group), National Express Group PLC (National Express) and Student Transportation Inc. (STI) lead the industry each year in terms of total revenue. Each of the three companies account for more than 5.0% of total industry revenue each year, while First Group PLC in particular is estimated to account for the largest share of nearly 20.0%, alone.
Ownership structure explained
o In April 2018, a Quebec holding company called Spinner Can AcquireCo. Inc. acquired STI. The purchasing company was sponsored by Caisse de dépôt et placement du Québec and Ullico Inc.
o First Group operates through several brands, including First Student, First Transit, Greyhound and First Canada.
o National Express has several brands as well, such as Durham School Services, Petermann and Stock Transportation.
Market concentration on the rise o Over the past five years, the UK-based transportation company National Express Group has accrued a rapidly increasing share of industry revenue. On average, the company’s industry-specific revenue has risen more than 8.0% each year since 2014. Merger and acquisition activity in particular has expanded the company’s operations and operating income.
This industry includes companies that primarily provide bus services to students in grades K-12 and school employees. School buses transport students to and from school, as well as between school events, field trips, camps and other educational events. Companies also provide transportation for school employees to and from work.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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