Full year 2025 edition
M&A activity in the global transport and logistics industry increases slightly
Deal activity in the global transport and logistics sector increased slightly again last year: between January and December 2025, 207 transactions worth at least $50 million were announced – a slight increase on the previous year, when 199 mergers and acquisitions were announced. For the first time since 2022, the threshold of 200 deals per year was exceeded again.
By contrast, the total value of transactions increased significantly to $170.8 billion US dollars (previous year: $96.3 billion). The main reason: the planned merger of Norfolk Southern and Union Pacific in the North American railway market, which contributed more than 40 percent of the total deal volume at $70 billion. This is the largest of a total of 21 mega-deals worth at least one billion US dollars.
Digitalisation drives joint ventures and strategic alliances
The number of joint ventures and strategic alliances nearly doubled in 2025 compared to previous years, rising from 104 to 193 activities, primarily due to digitalisation initiatives in logistics and supply chain management. Logistics companies are relying on targeted acquisitions, minority shareholdings and strategic partnerships to gain access to new technologies and competencies such as AI and cloud-based capabilities.
Cautious forecast for M&A in 2026
Ongoing geopolitical tensions and a weak global economy will continue to cause uncertainty and dampen the global trading environment and transaction activity. Opportunities arise in the areas of infrastructure and digitalisation: investments in transport infrastructure remain highly popular among financial investors. Digitalisation will also drive technological alliances and smaller, focused transactions over the course of the year.
"The most important thing for companies in the industry in 2026 will be to build resilient networks, secure diversified procurement and strengthen performance through targeted technological solutions."
