Transportation equipment manufacturers focus on production of transport products and parts for individual, corporate, military and government sectors. The industry is affected by a variety of regulations. While compliance can cause challenges, it also presents opportunities for product development and increased sales. Resulting innovation drives purchases of new equipment that meets safety and environmental standards and operates with increased efficiency. In some segments, manufacturers face intense foreign competition. To remain competitive, businesses are focusing on lowering manufacturing costs and embracing innovation. Sustained population growth will help drive an increasing demand for transportation as more goods and people need to be moved worldwide.