Other Transportation Equipment Manufacturing (U.S.)

NAICS 2022 code 3369 — a Histometrics rollup primer. NAICS (the North American Industry Classification System) is the standard code system U.S. statistical agencies use to sort businesses by what they make. Code 3369 is a four-digit industry group — and it is one of the simplest kinds of level in the whole system, because it has exactly one child beneath it: the five-digit industry 33699. This page is deliberately short. Its job is to explain why this level is effectively identical to that one child, give you this level's own ground-truth federal numbers, and point you to the fuller 33699 primer for the real detail.

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1. Overview

Industry group 3369 is the federal statistics' "everything else" drawer for transportation equipment. It collects every powered or pedaled vehicle that does not fit the big four-digit transportation codes — not a highway motor vehicle (NAICS 3361), not an aircraft (3364), not a ship or boat (3366), not a railroad car (33651). What is left over lands here.

Because only one five-digit industry (33699) sits inside 3369, the group and the industry are the same thing — the same firms, the same plants, the same dollars. Everywhere that a data table, an index provider, or a supplier classification rolls activity up to "3369," it is simply restating "33699." There is no extra activity that appears at the four-digit level and vanishes at the five-digit one.

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2. What's inside — and why the level equals its one child

A four-digit industry group can, in principle, hold several five-digit industries. This one holds just 33699 — Other Transportation Equipment Manufacturing, so 3369 = 33699 by definition.

The economically interesting split happens one level further down, inside 33699, which fans out into three unrelated six-digit worlds. Shares below are of the level's receipts and workers: [1][2]

• 336991 — Motorcycle, Bicycle, and Parts Manufacturing (~$3.80B receipts, 8,445 workers — roughly 19% of receipts and 21% of jobs, the smallest child): Harley-Davidson plus a long tail of small, mostly private bicycle and e-bike (electric bicycle) brands. [2]
• 336992 — Military Armored Vehicle, Tank, and Tank Component Manufacturing (~$6.88B, 11,831 workers — ~34% / ~29%): the plants that build the M1 Abrams tank, the Bradley and Stryker fighting vehicles, and armored trucks. [2]
• 336999 — All Other Transportation Equipment Manufacturing (~$9.76B, 20,354 workers — ~48% / ~50%, the largest child): the "powersports and personal-transport" economy — all-terrain vehicles (ATVs), side-by-sides, snowmobiles, personal watercraft, golf carts, and race cars. [2]

Size runs opposite to the headlines. Tanks get the attention, but the biggest child by both revenue and jobs is the unglamorous powersports and golf bucket, roughly half the level; motorcycles-and-bicycles is the smallest, because U.S. bicycle demand is met almost entirely by imports rather than domestic factories (see §3). The pay ladder tells you these are different businesses: average annual pay runs about $53,000 in 336991, $67,700 in 336999, and $74,800 in 336992, where plants are the most capital- and clearance-intensive. [2]

The single most important thing to carry away: this is a residual catch-all, not one market. No company competes across all three sub-industries; the only corporate bridges are partial and shrinking — Textron builds armored reconnaissance vehicles in 336992 and E-Z-GO golf carts in 336999, and Polaris straddled 336991 and 336999 until it separated its Indian motorcycle business in February 2026. [3][4] A tank plant and a golf-cart plant share the same code the way a bakery and a distillery are both "food and beverage." For any real analysis, drop straight to the [33699 primer], which compares the three children in full.

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3. How big it is

Our ground-truth federal figures for the whole level, NAICS 3369 — identical, as expected, to 33699:

These totals are the three children added up — with one telling exception. Establishments (429 + 62 + 457 = 948) and employees (8,445 + 11,831 + 20,354 = 40,630) reconcile exactly to the child figures, and receipts and payroll match to rounding. The firm count does not: the children report 408 + 38 + 409 = 855 firms against the level's 852. [1][2] Because a company is counted once in every industry where it runs a plant but only once at the parent, that three-firm gap is the arithmetic version of this page's whole thesis — essentially every company here belongs to exactly one child. Even the Small Business Administration treats them as three separate industries, setting three different employee thresholds for "small": 1,050 in 336991, 1,500 in 336992, and 1,000 in 336999. [5]

Read the concentration numbers with care. The HHI (Herfindahl-Hirschman Index, a standard 0–10,000 measure of market concentration) of 655.8 sits well below the 1,500 line that usually marks a competitive market, and the top-4 share of 42.5% looks unremarkable. That is a statistical mirage, and the giveaway is that the level's concentration is lower than any individual child's: CR4 of 42.5% at the level against 61.9% in 336999, 65.3% in 336991, and 85.1% in 336992, and CR8 of 66.7% against 69.9%, 82.3%, and 92.8%. Where child HHIs are published they are far higher — 2,289 in armored vehicles and 1,229 in powersports, with the 336991 figure suppressed altogether. [3] The code staples together three separate, genuinely concentrated markets whose leaders never overlap — tank primes, powersports makers, and motorcycle brands — so pooling them dilutes every leader's share. Each child is an oligopoly within its own market; the level only looks fragmented. Use child-level concentration, not this figure, to judge any single business.

Undercount caveat — read before quoting $20.45 billion. This measures domestic factory output classified in this code — not what Americans buy in these categories, nor what the companies are worth. The gaps are large and differ by child:

• Imports dwarf domestic production in the consumer children. Roughly 97–99% of bicycles sold in the U.S. are imported (about $1.09 billion of bikes in 2024), and about 99% of assembled golf carts imported in 2024 came from China (~$709 million), with import-based upstarts pushing domestic makers to roughly a third of the U.S. golf-cart market. [6][7] The U.S. retail bicycle market is a multiple of this entire level's domestic output, though sources disagree sharply on the multiple: 2024 estimates run from about $6.6 billion to $14.75 billion depending on methodology. [8][9] Either way, the economic weight of bikes and carts sits in imports, brand, components, and retail rather than U.S. factories.
• The biggest producers book most revenue in other codes. General Dynamics' Combat Systems segment reported $9.246 billion of 2025 revenue, more than all of 336992's receipts, because it spans European and non-armored lines; Harley-Davidson's motorcycle segment reported $3.578 billion, close to the whole of 336991, but includes overseas sales, parts, and apparel. [10][11]
• The code boundaries themselves leak. Wheeled military programs straddle the armored/truck line — at least one Joint Light Tactical Vehicle delivery order was classified under NAICS 336212 rather than 336992 — and utility side-by-sides sold mainly as farm equipment can land in agricultural machinery instead. [12]
• The small tail is real but light. Hundreds of tiny, often family-owned makers — custom frame builders, race-car chassis shops, buggy builders — add plant counts but few dollars, and are exactly the activity federal receipts capture least well.

The $20.45 billion is a legitimate manufacturing measure, but the markets and companies are much larger and mostly sit outside this code.

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4. The investable universe

There is no security that tracks NAICS 3369 any more than there is one for 33699 — you invest in one of the three unrelated children. Tickers below only locate the securities; this is not investment advice, and prices, yields, and multiples should be checked live.

• Powersports (336999) is the largest child and the cleanest public access: Polaris (NYSE: PII), whose Off-Road segment generated $5.71 billion in 2025, about 80% of company sales, and BRP (Nasdaq/TSX: DOOO) are near-pure plays. [13] Textron (TXT) still holds E-Z-GO — but announced in April 2026 that it intends to separate its whole Industrial segment by sale or tax-free spin-off, so that exposure is on its way out. [4] Club Car is private (Platinum Equity), and Arctic Cat was sold in April 2025 to an investor group led by a former Arctic Cat executive. [14]
• Armored vehicles (336992) has no pure play: General Dynamics (NYSE: GD) is the best large-cap proxy via Land Systems, closing 2025 with $27.2 billion of Combat Systems backlog — but you also buy jets, submarines, and IT. [10] Foreign-listed BAE Systems (BAESY) and Rheinmetall (RNMBY) are purer; suppliers such as Leonardo DRS (DRS) and Allison Transmission (ALSN) offer indirect exposure; defense ETFs (ITA, XAR, PPA) dilute the theme heavily.
• Motorcycles & bicycles (336991) offers the thinnest public access: Harley-Davidson (NYSE: HOG) is essentially the only U.S.-listed pure play, with LiveWire (LVWR) a small, loss-making electric bet and Fox Factory (FOXF) partial component exposure. Polaris has left the category — it completed the separation of Indian Motorcycle and the sale of a majority stake to private-equity firm Carolwood LP in February 2026, retaining only a minority interest. [3] The big bicycle brands (Trek, Specialized) are private.

The pattern across the level: public money concentrates in powersports and, heavily diluted, in armor; motorcycles and bicycles are nearly all private, and private equity is an increasingly common owner throughout. For the full breakdown, see the [33699 primer, §4].

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5. How the money works

Because the one child contains two utterly different economic engines, so does this level:

• Engine A — consumer dealer-channel manufacturing (336991 + 336999): cyclical makers of big-ticket, financed durables sold wholesale to independent dealers who carry inventory on "floorplan" loans. Revenue is units × average selling price × mix; margins swing hard with factory utilization — Harley shipped 124,500 motorcycles in 2025, 16% fewer than in 2024, and its motorcycle-segment gross margin fell from 28.0% to 24.2%. [11] Higher-margin parts, garments, and accessories and captive financing cushion the hardware cycle, and can do more than cushion: Harley earned $339 million of consolidated net income in 2025 even though its motorcycle segment lost $29 million at the operating line, on the strength of its credit arm. [11] Neither consumer child is a clean manufacturing exposure.
• Engine B — government-contract defense manufacturing (336992): one dominant buyer (the U.S. government, plus allies via Foreign Military Sales), driven by funded backlog ($27.2 billion at General Dynamics' Combat Systems), contract type, and long-tail sustainment. Contract mix is the swing factor: $8.131 billion of Combat Systems' $9.246 billion of 2025 revenue was fixed-price, so cost execution matters more than demand. [10] The Abrams entered service in 1980 and today's tank revenue is largely upgrades and rebuilds — one recent five-year Abrams support contract runs to roughly $716 million. [15]

The shared thread: the level is cyclical, but to different clocks — the consumer cycle for Engine A, the defense-budget and threat cycle for Engine B. Both also put a buffer between reported revenue and current demand (dealer floorplan on one side, funded backlog on the other), so results lag the turn in either direction. They can move in opposite directions in the same year, which is exactly why the blended level tells you little. Full detail in the [33699 primer, §5].

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6. What drives demand

• Consumer children: confidence, income, and interest rates (these are optional, financed purchases); an aging motorcycle rider base as a structural headwind — median owner age reached about 50 by 2018, up from 32 in 1990 [16]; genuine rural and agricultural work use of side-by-sides as a steadier base, and the mix has tilted decisively that way (Polaris estimates 2025 North American retail of 525,000 side-by-sides against 255,000 ATVs); weather, which hits fast — worldwide snowmobile retail fell from roughly 125,000 units in the season ended March 2023 to about 90,000 two seasons later [13]; and two clear growth vectors, e-bikes (about 7% of U.S. bicycle units but roughly 30% of bicycle revenue) and street-legal neighborhood golf carts — both real, both import-dependent. [8]
• Defense child: defense budgets and the threat environment are the master switches, and they do not point the same way. Russia's invasion of Ukraine drove European rearmament and a U.S. obligation to replenish transferred equipment — the Army is buying about 50 additional Armored Multi-Purpose Vehicles for roughly $250 million to backfill M113 carriers sent to Ukraine [17] — but the domestic line is not simply rising: the Army's fiscal 2026 request included $2.887 billion for Weapons and Tracked Combat Vehicles, below the $3.689 billion continuing-resolution baseline before it. [18] Lessons from that war (cheap drones killing expensive armor) are shifting demand toward protection systems and lighter or uncrewed vehicles.

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7. Regulation

Split by engine, like everything else here:

• Consumer children: product-safety standards from the Consumer Product Safety Commission (CPSC) — a mandatory bicycle standard (16 CFR Part 1512) and a mandatory ATV standard, with side-by-sides on a mostly voluntary one, against more than 800 off-highway-vehicle deaths and roughly 100,000 emergency-room injuries a year [19]; a live new front in lithium-battery fires, with the CPSC approving publication of a proposed mandatory battery-safety standard for micromobility products in June 2026 [20]; the National Highway Traffic Safety Administration's FMVSS No. 500 (the Federal Motor Vehicle Safety Standard defining street-legal Low-Speed Vehicles: 20–25 mph, under 3,000 lb), which enables the neighborhood golf-cart market [21]; EPA and California Air Resources Board (CARB) emissions rules [22]; and trade and tariffs, now a first-order variable because the categories are so import-dependent — Section 301 tariffs on Chinese bikes and e-bikes that spiked in 2025 before partial rollbacks, lithium-battery duties scheduled to rise to 25% in 2026, closure of the de minimis exemption, and antidumping/countervailing duties on Chinese low-speed golf carts. [23][7] The pressure reaches domestic assemblers too: Harley absorbed roughly $67 million of new or increased tariff costs in 2025, and BRP suspended its fiscal 2027 guidance after a 25% tariff was applied to imported snowmobiles and most off-road models. [11][24]
• Defense child: governed by being the government's supplier — the Federal Acquisition Regulation (FAR) and its defense supplement (DFARS), export controls under the International Traffic in Arms Regulations (ITAR), Buy-American and Cybersecurity Maturity Model Certification (CMMC) requirements down the supply chain, and foreign-ownership oversight via the Committee on Foreign Investment in the United States (CFIUS).

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8. Consolidation

Each child has its own structure and its own story:

• 336991 is deconsolidating and going private (Polaris completed the sale of a majority stake in Indian to private equity in February 2026, removing a public competitor; bicycles consolidate globally into brand houses atop Asian contract factories and the Shimano/SRAM component duopoly). [3]
• 336992 is a tight, high-barrier oligopoly (top-4 85.1%, HHI 2,289, and only 38 firms in the entire child) where a single contract award can reshuffle the field and foreign primes are pushing in. [3]
• 336999 is a duopoly-plus (Polaris and BRP, top-4 61.9%) being disrupted on price by import-based golf-cart upstarts — the very thing that triggered the 2024–25 trade cases. [3][7]

One pattern does now cross all three, and it is new since this page was last written: diversified public parents are exiting these businesses. Polaris separated Indian in February 2026; Textron sold Arctic Cat in 2025 and announced in April 2026 that it intends to separate its whole Industrial segment, E-Z-GO included. [3][14][4] The buyers are private equity and founder groups — so the publicly investable slice of this level is getting thinner, not thicker.

The level's low HHI remains the artifact described in §3 — three separate concentrated markets pooled, not one easy-entry market. See the [33699 primer, §8].

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9. Risks

The same risks that define 33699 define 3369. Cyclicality and interest-rate sensitivity in the consumer children: the 2024–25 dealer destocking cut Polaris's sales 20% (from $8.93 billion to $7.18 billion) and its net income from $503 million to $111 million in one year, and pushed Harley's motorcycle segment to an operating loss. [25][11] Demographic decline in motorcycles. [16] Import dependence and tariff whiplash in bikes, e-bikes, and golf carts, cutting both ways — protective on cart imports, punitive on components. [7][23] Defense-budget and program-cancellation risk in armor: the Army's 2025 cancellation of the M10 Booker light tank came after more than $1 billion spent and 26 vehicles delivered against a contract contemplating up to 96, and the FY2026 tracked-vehicle request came in below the prior baseline. [26][18] Single-customer concentration on the defense side. An electrification transition that is not automatically value-creating — LiveWire's electric-motorcycle segment lost $73.8 million at the operating line in 2025, and BRP booked roughly CA$233 million of impairment on electric-vehicle and light-mobility assets in fiscal 2026. [27][24] And concentration risk for public investors: for motorcycles, essentially one listed company — whose 2025 profit came from its credit arm rather than its factories; for armor, no pure play at all. [11]

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10. How to invest, and the outlook

The single most important point: you cannot invest in "3369" — or in "33699." It is an accounting bucket. Choose the child whose economics you actually want: powersports (Polaris, BRP) for the largest and most investable slice; armored vehicles (General Dynamics, foreign primes, defense ETFs) for the government-driven theme; motorcycles (Harley-Davidson, with LiveWire as a speculative sliver) for the thin, mostly-private remainder. Private routes — private equity, the large private bicycle and e-bike brands, import-based cart upstarts, defense component and sustainment suppliers — hold much of the value across all three, and are taking more of it each year. Because the two consumer children are earnings-cyclical, weigh valuation on normalized mid-cycle profits, dealer-inventory health, and aftermarket resilience rather than a single trough or peak year.

The outlook is three divergent stories, not one: a cyclical recovery layered over structural e-bike and neighborhood-cart growth in powersports, offset by weather, tariffs, and import price competition; an armor business well supported by backlog and allied rearmament but with the domestic procurement line flat-to-down, value migrating from new heavy platforms toward upgrades and protection, and real cancellation risk from the Army's lighter/uncrewed pivot; and a mature, demographically challenged motorcycle business now shipping fewer units and leaning on its finance arm for profit, with an import-exposed e-bike layer on top. [18][26][11]

The unifying takeaway: the level is a label, not a thesis. For the full comparison of the three children — who owns them, how big each is, and how to reach them — read the [33699 primer], of which this page is simply the top layer.

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Sources

1. U.S. Census Bureau, 2022 Economic Census (receipts, firms, concentration ratios, HHI) and County Business Patterns 2023 (establishments, employment, payroll), NAICS 3369 / 33699 — Histometrics ground-truth figures for this level. https://www.census.gov/programs-surveys/economic-census.html
2. U.S. Census Bureau, 2022 Economic Census / County Business Patterns 2023, child industries: 336991 (~$3.80B receipts; 408 firms; 429 establishments; 8,445 employees; ~$447.2M payroll), 336992 (~$6.88B; 38 firms; 62 establishments; 11,831 employees; $884.6M payroll), 336999 ($9.76B; 409 firms; 457 establishments; 20,354 employees; $1.38B payroll). https://www.census.gov/programs-surveys/cbp.html
3. U.S. Census Bureau, 2022 Economic Census, child-industry concentration (336991 CR4 65.3%, CR8 69.9%, HHI suppressed; 336992 CR4 85.1%, CR8 92.8%, HHI 2,289; 336999 CR4 61.9%, CR8 82.3%, HHI 1,229). https://www.census.gov/programs-surveys/economic-census.html
4. Textron Inc., news release — intent to separate the Industrial segment (including E-Z-GO) by sale or tax-free separation, April 2026. https://www.sec.gov/Archives/edgar/data/217346/000021734626000009/a043026pressrelease.htm
5. U.S. Small Business Administration, Table of Small Business Size Standards (336991 = 1,050 employees; 336992 = 1,500; 336999 = 1,000), 2023. https://www.sba.gov/document/support-table-size-standards
6. IndexBox, United States Bicycle Market Overview 2024 (~97–99% of bikes imported; ~$1.09B imported in 2024). https://www.indexbox.io/blog/bicycle-united-states-market-overview-2024-6/
7. CNBC, Trump's trade war hits his second-favorite set of wheels, the golf cart (2024 golf-cart imports ~$709M, ~99% from China; antidumping/countervailing duties; domestic makers ~one-third of the U.S. market), 2025. https://www.cnbc.com/2025/04/30/tariffs-target-trumps-second-favorite-set-of-wheels-the-golf-cart.html
8. PeopleForBikes, Electric Bicycle Market Insights / The U.S. E-Bike Market Is Bigger Than the Numbers Show (retail bike market ~$6.6B; e-bikes ~7% of units and ~30% of bicycle revenue; ~1 million bought or sold in 2024). https://www.peopleforbikes.org/news/e-bike-market-bigger-than-numbers-show
9. Grand View Research, U.S. Bike Market Size, Share, Growth (retail market ~$14.75B, 2024). https://www.grandviewresearch.com/industry-analysis/us-bike-market-report
10. General Dynamics, Form 10-K, FY2025 (Combat Systems $9.246B revenue, 14.4% operating margin, $8.131B fixed-price, $27.2B backlog). https://www.sec.gov/Archives/edgar/data/40533/000004053326000006/gd-20251231.htm
11. Harley-Davidson, Inc., Form 10-K, FY2025 (motorcycle-segment revenue $3.578B; 124,500 shipments, −16%; gross margin 28.0%→24.2%; $339M consolidated net income vs. $29M segment operating loss; ~$67M tariff costs). https://www.sec.gov/Archives/edgar/data/793952/000079395226000011/hog-20251231.htm
12. USAspending.gov, JLTV award record (delivery order classified under NAICS 336212 rather than 336992). https://www.usaspending.gov/award/CONT_AWD_W56HZV23F0081_9700_W56HZV23D0008_9700
13. Polaris Inc., Form 10-K, FY2025 (Off-Road segment $5.71B, ~80% of sales, 20.2% gross margin; snowmobile retail 125,000 → 90,000 units; 525,000 side-by-sides vs. 255,000 ATVs). https://www.sec.gov/Archives/edgar/data/931015/000162828026008033/pii-20251231.htm
14. Arctic Cat, Renewal. Passion. Generations to Come. (April 2025 acquisition from Textron by an investor group led by Brad Darling), 2025. https://www.arcticcat.com/about-arctic-cat/news/renewal-passion-generations-come
15. GovConWire, Army Awards $716M Contract to General Dynamics Land Systems for Abrams Support, 2025. https://www.govconwire.com/articles/gdls-army-contract-abrams-tanks-support
16. CSM Research / Riders-Share, The Aging Rider Crisis (median motorcycle-owner age ~50 by 2018, up from 32 in 1990), 2026. https://www.csm-research.com/the-aging-rider-crisis-how-demographic-shifts-are-reshaping-motorcycle-market-strategies/
17. The Defense Post, US Army to Buy 50 Additional AMPVs to Replenish Ukraine Drawdown (~$250M; FY2026), 2026. https://thedefensepost.com/2026/03/03/us-army-ampvs/
18. U.S. Army, FY26 President's Budget Highlights ($2.887B for Weapons and Tracked Combat Vehicles vs. $3.689B continuing-resolution baseline). https://www.asafm.army.mil/Portals/72/Documents/BudgetMaterial/2026/pbr/FY26%20Presidents%20Budget%20Highlights.pdf
19. U.S. Consumer Product Safety Commission, 16 CFR Part 1512 (Bicycles), Standard for All-Terrain Vehicles, and Recreational Off-Highway Vehicles (voluntary ANSI/ROHVA standard; >800 OHV deaths and ~100,000 emergency-room injuries a year). https://www.cpsc.gov/Regulations-Laws--Standards/Voluntary-Standards/Recreational-Off-Highway-Vehicles
20. U.S. Consumer Product Safety Commission, Statement on CPSC's Proposed Lithium-ion Battery Safety Standard for Micromobility Products (June 2026). https://www.cpsc.gov/About-CPSC/Chairman/Peter-A-Feldman/Statement/Statement-of-Acting-Chairman-Peter-A-Feldman-on-CPSCs-Proposed-Lithium-ion-Battery-Safety-Standard-for-Micromobility-Products
21. U.S. National Highway Traffic Safety Administration, FMVSS No. 500 — Low-Speed Vehicles (49 CFR 571.500; 20–25 mph, GVWR under 3,000 lb, required safety equipment). https://www.motoelectricvehicles.com/federal-motor-vehicle-safety-standards-no-500/
22. U.S. Environmental Protection Agency, Regulations for Emissions from Motorcycles; California Air Resources Board, On-Road Motorcycles. https://www.epa.gov/regulations-emissions-vehicles-and-engines/regulations-emissions-motorcycles-light-duty
23. PeopleForBikes, Bike Industry Update on Tariffs 2025 (Section 301 tariff swings; 2026 lithium-battery duty increase; de minimis closure). https://www.peopleforbikes.org/news/bike-industry-update-on-tariffs-2025
24. BRP Inc., BRP Suspends FY27 Guidance Due to Changes in U.S. Tariff Environment (25% tariff on imported snowmobiles and most off-road vehicles), 2026; Fiscal 2026 Results (~CA$233M electric-vehicle and light-mobility impairment). https://investisseurs.brp.com/news-releases/news-release-details/brp-suspends-fy27-guidance-due-changes-us-tariff-environment
25. Polaris Inc., Form 10-K, FY2024 (2024 sales $8.93B → $7.18B; net income $503M → $111M; dealer floorplan financing). https://www.sec.gov/Archives/edgar/data/931015/000162828025006009/pii-20241231.htm
26. U.S. Army, Army to Cease Procurement of M10 Booker Combat Vehicles (Army Transformation Initiative; >$1B spent, 26 delivered, up to 96 contemplated), 2025. https://www.army.mil/article/286271/army_to_cease_procurement_of_m10_booker_combat_vehicles
27. LiveWire Group, Inc., Form 10-K, FY2025 ($6.1M electric-motorcycle revenue at negative gross profit; $73.8M segment operating loss). https://www.sec.gov/Archives/edgar/data/1898795/000189879526000028/lvwr-20251231.htm