Sep. 9 at 7:56 PM
Self-driving trucks and tractors could be the next big wave in autonomous vehicles, much like Tesla is for cars. Bank of America projects the AV market to reach
$1.2 trillion by 2040, up from
$119 billion last year, with trucks leading the charge — robotruck sales are expected to surge 760% to
$354 billion.
Paccar and Volvo are already testing autonomous trucks in the U.S., while Aurora Innovation is developing its Aurora Driver platform, partnering with Werner Enterprises, Uber Freight, and FedEx. Aurora aims for a “driver-as-a-service” model, charging per mile.
In farming and mining, Deere, CNH Industrial, and Caterpillar are rolling out autonomous equipment that boosts productivity and cuts labor costs. Despite a cyclical sales downturn, analysts see value in these stocks at current levels.
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