Based on the expert analysis and our database of 1,300+ US industries, IBISWorld presents a list of the Fastest Declining Industries in the US by Revenue Growth (%) in 2021
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View a list of the Top 25 fastest declining industries2021-2022 Revenue Growth: -24.8%
Over the five years to 2021, the Unmanned Aerial Vehicles (UAV) Manufacturing industry has struggled, contending with government budget cuts. Industry companies produce and develop UAVs, or drones, which are remotely piloted or autonomously operated aircraft. Since most demand for drones comes from the US military, the overall decline in defense funding before and slow growth during the period led to a reduction of funding for industry products. Moreover, demand for new UAVs was further reduced because the industry supplied the military with an enormous fleet in the previous decade. Thus, industry revenue is expected to decline at an annualized... Learn More
2021-2022 Revenue Growth: -17.3%
The Armored Vehicle Manufacturing industry experienced significant growth over the five years to 2020. Industry operators research, develop, manufacture, modify and repair military armored vehicles, including infantry fighting vehicles, armored personnel carriers, mine-resistant ambush protected (MRAP) vehicles, self-propelled artillery and armored utility vehicles. Prior to the five-year period, industry revenue declined dramatically as US spending on industry products fell. However, this trend reversed in the current five-year period as the United States began to increase defense spending and ramp up key industry programs. Consequently, industry revenue is expected to increase at an annualized rate of 3.6% to $2.6 billion over... Learn More
2021-2022 Revenue Growth: -11.2%
The Department Stores industry has continued its long-term decline over the five years to 2021, with revenue expected to fall at an annualized rate of 8.0% to $111.3 billion. The industry's decline has been accentuated by an estimated 16.7% decline in 2020 alone due to the COVID-19 (coronavirus) pandemic before slowing to a 3.7% decline in 2021 as the economy recovers. Additionally, while rising competition from e-commerce has accelerated declines, revenue contraction is primarily attributable to the increasing number of major players that have expanded their product ranges to include groceries, which transitions their revenue to the Warehouse Clubs and... Learn More
2021-2022 Revenue Growth: -9.6%
The Sign and Banner Manufacturing Franchises industry has exhibited a steep decline over the five years to 2021. For most years during the period, the industry's struggles have had little to do with demand for signage. Growth in advertising spending as well as steady investment in commercial construction have boosted demand for signs. These two trends have pushed up US demand for signage over the past five years. However, franchises have had a greatly diminished role in providing industry products. As a result, over the five years to 2021, industry revenue is expected to plummet an annualized rate 16.1% to... Learn More
2021-2022 Revenue Growth: -8.2%
Operators in the Hand Sanitizer Manufacturing industry produce hand sanitizer products in a variety of forms, including foam, gel, wipes and liquid, along with dispensers for industry products. Industry revenue has experienced healthy growth, rising an annualized 3.9% to $74.4 million over the five years to 2020, including an increase of 16.6% in 2020 alone due to heightened demand as a result of the recent COVID-19 (coronavirus) outbreak. Besides the ongoing coronavirus outbreak, growth can largely be attributed to heightened consumer health consciousness over the past five years leading to a rise in total health expenditure. Additionally, a renewed focus... Learn More
2021-2022 Revenue Growth: -8.1%
The DVD, Game and Video Rental industry includes operators that primarily engage in renting DVD, videos and computer and video games. Over the five years to 2021, the growing popularity and dominance of video on demand (VOD) and streaming services have hampered demand for traditional DVD renting services, forcing brick-and-mortar operators, such as Blockbuster LLC, into bankruptcy. Furthermore, as online streaming services are able to competitively price their products, they have forced industry operators to accept lower rental prices. As a result, industry operators have struggled with consistently declining demand for their services. IBISWorld estimates that industry revenue has fallen... Learn More
2021-2022 Revenue Growth: -7.4%
Over the five years to 2021, the Postal Service industry, analogous with the United States Postal Service (USPS), experienced increasingly difficult operating conditions and ultimate revenue declines. Committed retiree payouts have resulted in the USPS posting near-consistent negative profit since 2006, unable to reduce its largest operating expense. Moreover, the growth of online services, such as mobile banking and e-mail, has strained demand for traditional postal services during the five-year period, and the industry's sole business continues to operate on a loss. However, late-period opportunities arose for the industry, keeping revenue from declining more drastically. Thus, over the five years... Learn More
2021-2022 Revenue Growth: -6.6%
The Data Recovery Services industry in the United States salvages computer files from damaged, failed, corrupted or inaccessible storage media. Although the increasing number of households with at least one computer and the rising popularity of electronic devices were expected to provide ample demand for industry services, options for data recovery and data loss prevention have expanded in recent years, and demand for industry services has declined. Over the five years to 2020, industry revenue is estimated to fall an annualized 9.5% to $9.1 million, with an expected decline of 14.2% in 2020 alone, accelerated by the effects of the... Learn More
2021-2022 Revenue Growth: -6.4%
The Natural Disaster and Emergency Relief Services industry is expected to grow an annualized 1.2% to $11.0 billion over the five years to 2021. Although dominated by nonprofit organizations, this industry is also composed of for-profit companies that provide direct assistance to communities affected by disasters. Industry revenue, which is generated mostly from government funding and private donations, exhibited a high level of volatility during the period due to the unpredictable occurrence of natural disasters. In addition, industry operators are affected by economic conditions that influence the amount of funding industry operators receive from private entities. In 2021, industry revenue... Learn More
2021-2022 Revenue Growth: -6.0%
Operators in the Oil Pipeline Transportation industry primarily transport crude oil through pipelines. The industry grew in line with booming US oil production over the five years to 2021, although volatile external conditions were challenging. Advanced drilling techniques have increased the number of profitable oil reserves across North America over the past five years. The Permian Basin in Texas and the Williston Basin in North Dakota experienced particularly sharp increases in crude oil production. As production boomed, oil and gas companies demanded additional pipeline capacity to transport crude oil from extraction sites to refineries, where crude oil is refined into... Learn More
Based on the expert analysis and our database of 1,300+ US industries, IBISWorld presents a list of the Riskiest Industries in the US in 2021
VIEW ARTICLEBased on the expert analysis and our database of 1,300+ US industries, IBISWorld presents a list of the Least Risky Industries in the US in 2021
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