Capital Investment Requirements: Transit
Transit capital investment requirements to maintain conditions and performance and to improve conditions and performance are 5 percent and 16 percent higher, respectively, than in the 2002 report, principally as a result of new information collected on assets and asset prices. Current estimates are for the period 2003–2022 for four scenarios. The "Maintain Conditions" scenario projects the level of capital investment necessary to maintain current average asset conditions over the 20-year period, and the "Improve Conditions" scenario projects the investment necessary to raise the average condition of each major transit asset type to at least a level of "good." The "Maintain Performance" scenario assumes investment in new capacity to maintain current vehicle occupancy levels as transit passenger travel increases, and the "Improve Performance" scenario assumes that additional investment will be undertaken to reduce average vehicle occupancy rates and increase average vehicle speeds. The "Improve Conditions and Performance" scenario is an upper limit of the economically justifiable level of transit investment.
|(Billions of Dollars)|
|Conditions||Performance||Average Annual Cost
|Average Annual Cost
Average annual investment requirements are estimated to be $15.6 billion to maintain conditions and performance ($14.8 billion in 2000) and $24.0 billion to improve conditions and performance ($20.6 billion in 2000). Under the "Maintain" scenario, $10.3 billion annually would be needed for asset rehabilitation and replacement and $5.3 billion for asset expansion. Under the "Improve" scenario, $11.7 billion would be needed annually for replacement and rehabilitation, $5.7 billion for asset expansion, and $6.6 billion for performance improvements.
Vehicles account for the 45 percent of the investment required to maintain conditions and performance, $6.9 billion annually, and 39 percent of the investment needed to improve conditions and performance, $9.3 billion annually; guideway elements account for 17 percent of the investment to maintain conditions and performance, $2.7 billion annually, and 39 percent of the investment amount needed to improve conditions and performance, $4.3 billion annually. Facilities and stations each account for 10 to15 percent of total investment requirements, systems for 7 to 8 percent, and other project costs for 6 to 12 percent.
|(Billions of 2002 Dollars)||Maintain||Improve|
|Other Project Costs||$0.9||$2.9|