Driving Economic Growth: How Autonomous Vehicles Are Powering America’s Future
Key takeaways
- By 2040, AVs are projected to capture up to half of all shared mobility revenue
- Robotaxis will create cost savings for Americans in terms of car ownership, maintenance, and insurance,while autonomous trucks will drive down the cost of goods for consumers
- Autonomous vehicles will generate hundreds of thousands of new jobs, including many that do not require a four-year degree
- Autonomous trucks will significantly improve fuel efficiency
The rise of autonomous vehicles (AVs) marks one of the most transformative shifts in transportation history. These technologies are not only redefining how people and goods move, but they’re also laying the foundation for a stronger, more resilient American economy. AVs are driven by billions in private capital investment directly into the heart of the American economy.
AVs present a once-in-a-generation opportunity to modernize our mobility systems while driving job creation, investment, and long-term economic competitiveness. With the right policies in place, AVs can reduce costs across supply chains, open new career pathways for American workers, and improve access to transportation—all while saving lives and cutting emissions.
The economic case for AVs
In just over a decade, the AV sector has attracted more than $100 billion in private investment. That momentum is accelerating. By 2040, autonomous vehicles are projected to capture up to half of all shared mobility revenue, amounting to as much as $2.3 trillion annually, according to McKinsey.
This economic growth is not limited to tech hubs or automakers. A Department of Transportation-sponsored study confirmed that AV deployment will generate hundreds of thousands of new jobs across the country, many of which will not require a four-year degree. In fact, nearly 60% of AV-related jobs pay above the U.S. median wage, opening doors for more Americans to enter the middle class through skilled trades and technical roles.
Autonomous vehicles also offer real cost savings for both businesses and consumers. McKinsey estimates that fully autonomous trucks could reduce freight operating costs by up to 45%—a game-changer for an industry that moves 72% of America’s goods. Those savings—projected at $85–$125 billion annually—would ripple throughout the economy, helping lower prices for everything from groceries to building materials.
For everyday Americans, the benefits are equally powerful. Households could save an estimated $5,600 per year thanks to reduced costs for car ownership, fuel, maintenance, and insurance. Robotaxis, in particular, are expected to cut ride costs by 30–80%, unlocking more affordable mobility options for millions of people, including seniors, individuals with disabilities, and underserved communities.
At the core of AVIA’s mission is safety—and the economic case for safer roads is equally compelling. Human error is responsible for over 90% of traffic crashes, which claim roughly 41,000 lives annually in the U.S. AV technology can help change that. Estimates suggest AVs could reduce crashes by as much as 90%, saving up to tens of thousands of lives each year and cutting nearly $200 billion in accident-related costs.
At the same time, AVs can improve air quality and reduce fuel consumption, further enhancing public health while supporting environmental goals. One insightful study found that “autonomous trucking has the potential for a 13-32% net energy efficiency improvement per loaded mile, relative to traditional human-driven trucks.”
Autonomous vehicles will not replace our economy, they will elevate it. But realizing that potential requires federal leadership. AVIA’s proposed federal policy framework—Securing American Leadership in Autonomous Vehicles—offers a clear, actionable path forward. It calls for a consistent national approach to AV regulation, targeted investment in safety oversight and infrastructure, and support for the workforce of tomorrow. By adopting this framework, policymakers can accelerate deployment, strengthen America’s competitive edge, and ensure that the economic benefits of AVs are shared across communities nationwide.