Armstrong & Associates Says U.S. 3PL Market Reached $323.4 Billion in 2025

Armstrong & Associates released a new report on June 11, 2026, saying the U.S. third-party logistics market reached $323.4 billion in gross revenue and $138.2 billion in net revenue in 2025. The report says international transportation management led growth and that the freight recession that began in late 2022 is ending. Why it matters: - Armstrong & Associates says the U.S. 3PL market is moving out of a multi-year freight downturn. - The report points to growth across all four 3PL segments through 2026 and 2027, which could affect pricing, capacity and M&A activity. - The findings also show how tariff shifts, cargo theft risks and warehousing demand are changing logistics strategy. What happened: - Armstrong & Associates released Reshaping: Third-Party Logistics in a Decade of Structural Change on June 11, 2026. - The annual report covers the U.S. and global 3PL markets and includes updated 2026 rankings for the Top 50 U.S.-Based 3PLs and Top 50 Global 3PLs. - The report says U.S. 3PL gross revenue reached $323.4 billion in 2025, up 5.0% from a year earlier. - The report says U.S. 3PL net revenue reached $138.2 billion in 2025, up 5.1% year over year. - Armstrong & Associates says those gains confirm the freight recession that began in late 2022 is ending. The details: - International Transportation Management was the fastest-growing 3PL segment in 2025. - ITM net revenue rose 11.0% to $30.4 billion. - ITM generated a 35.4% gross profit margin. - ITM gross revenue grew 7.7% in 2025. - Expeditors posted 4.4% gross revenue growth to $11.1 billion and 7.4% net revenue growth to $3.7 billion. - C.H. Robinson’s Global Forwarding gross revenue fell 18.8% to $3.1 billion. - C.H. Robinson’s Global Forwarding net revenue fell 7.6% to $741.9 million. - The report says individual freight forwarders are being reshaped by tariff exposure, customer mix and lane decisions. - The freight recession is ending through capacity reduction rather than a demand rebound. - Operating-authority revocations exceeded new entries throughout 2024 and 2025. - The DTM segment is shifting toward a compliance technology stack built around Carrier Compliance & Onboarding, Predictive Performance / Fraud Screening, Visibility / Exception Management with Compliance Signals and TMS systems that integrate compliance data. - The report links that shift to high-profile cargo theft and double-brokering cases. - Warehousing demand is bifurcating, with big-box facilities of 500,000 square feet or more competing with data center tenants for industrial land. - 3PL M&A remained active through March 31, 2026. - Multiple transactions above $100 million helped reshape the Top 50 Global 3PLs ranking. Between the lines: - The report suggests the logistics market is not simply recovering; it is reorganizing around compliance, technology and supply chain risk. - The split between winners and laggards in freight forwarding shows how quickly trade policy and customer mix can change segment economics. - Competition for land between warehouses and data centers signals pressure on industrial real estate beyond transportation alone. What’s next: - Armstrong & Associates projects continued growth across all four 3PL segments in 2026 and 2027. - Further M&A could continue to alter global and U.S. 3PL rankings. - The report is available for purchase at Market Research Reports – Armstrong & Associates . - The report is also included as a standard download in all four tiers of Armstrong & Associates’ Expert Information Service subscription. The bottom line: - Armstrong & Associates sees a 3PL market that is growing again, but with the gains increasingly shaped by tariffs, compliance tools, capacity cuts and consolidation.