Wabtec ended 2025 with a multi-year backlog of EUR 24.84bn (USD 27bn), up 23% year on year, providing long-term visibility across freight and passenger markets. Fourth-quarter sales rose 14.8% to EUR 2.73bn (USD 2.97bn), with growth in both the Freight and Transit segments.
Higher locomotive deliveries drove freight equipment revenues in the quarter, while digital sales expanded sharply following the acquisitions of Inspection Technologies and Austria-based Frauscher Sensor Technology, reinforcing Wabtec’s position in train control, wayside monitoring and data-driven maintenance.
The addition of Dellner Couplers, completed in February 2026, further strengthens Wabtec’s footprint in Europe’s passenger rolling stock supply chain. For European OEMs and operators, this underlines the ongoing consolidation among global suppliers as companies seek broader portfolios spanning mechanical components, digital systems and lifecycle services.
Transit sales growth reflects continued investment in fleet renewal and aftermarket services, particularly in urban and regional transport. While North American freight remains Wabtec’s core earnings base, the company’s recent acquisitions point to a strategic focus on electronics, diagnostics and interoperability – segments that are also expanding under EU rail digitalisation and ETCS deployment programmes.
Wabtec expects further revenue growth in 2026, supported by the existing order book. For operators and manufacturers, the scale of the backlog suggests stable demand for locomotives, onboard systems and infrastructure-related technologies despite macroeconomic uncertainty and confirms that supply chain capacity and execution will remain key issues across the global rail sector.