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During the next five years, the light-rail vehicle (LRV) market will generate more than $4.4 billion worldwide, according to a recent study by consulting firm SCI Verkehr GmbH. Half of that revenue will come from after-sales services.

The LRV market will average about 4.5 percent growth annually the next five years, according to "The Worldwide Market for Light Rail Vehicles: 2008 to 2013."

Why? The global demand for urban rail transport services has risen substantially, especially in Europe and North America, the study says. In addition, there's increasing public awareness of climate change, more efforts under way to reduce traffic congestion, about 100 light-rail systems currently being developed, built or upgraded, and more transit agencies are replacing their fleets with low-floor LRVs.

More than 44,000 LRVs currently are in operation worldwide, with more than 85 percent of them in the Commonwealth of Independent States and Europe. Bombardier Transportation, Alstom Transport and Siemens Transportation Systems Inc. have supplied more than 50 percent of all LRVs in the past five years, though there is growing competition from Kinkisharyo, Skoda Transportation and Stadler, according to the study.