Finding the right transportation stocks to buy is more crucial than ever in today’s interconnected global economy. That’s because reliable transportation systems form the backbone of trade and mobility, making them indispensable to making money.

However, despite its pertinence, the transportation space is up against multiple headwinds weighing down industry valuations.  Some of these include production delays and labor shortages, making investors skeptical of the industry’s prospects. Despite challenges, the transportation services sector is set to surge. Valued $7.31 trillion last year, it’s projected to nearly double to $15.94 trillion by 2032.

Hence, considering current economic circumstances, carefully selecting the best transportation stocks becomes doubly important. These three top transportation plays have effectively weathered the economic headwinds and are marching forward with a purpose. These stocks have proven stable, backed by robust fundamentals that continue to impress each quarter. Moreover, you wouldn’t have to break the bank while scooping these up, adding to their attractiveness.

Uber Technology (UBER)

Uber Technology (NYSE:UBER) has evolved beyond its origins as a simple ride-sharing app to become a top player in food delivery and one of the fastest-growing freight transportation stocks to buy. The company had a superb outing at the stock market last year, gaining upwards of 63% on the back of impressive quarterly performances. Despite operating in an unconducive business environment, the ride-hailing giant posted double-digit growth last year.

Moreover, it kept up the momentum from last year, wrapping up another solid quarter. Its first-quarter (Q1) results showed a 14.8% increase in sales to $10.1 billion year-over-year (YOY), beating analyst estimates by $40.2 million. Total gross booking surged by almost 20% YOY,  led by over a 24% increase in mobility gross bookings.

However, its loss per share of 31 cents missed analyst estimates by 51 cents as it felt the heat of the current economic slowdown. Analysts expect the firm to post 90 cents in its earnings per share this year, roughly 3.3% lower YOY, but a major resurgence is expected in the following year.

United Airlines (UAL)

United Airlines (NASDAQ:UAL) is a high-flyer in the aviation space, which continues to kill it on the operational front. In the past four consecutive quarters, UAL has soared past top-and-bottom-line estimates, navigating with aplomb through the turbulence.

Q1 revenues for the firm were at $12.54 billion, 9.7% higher on a YOY basis, beating estimates by $144.8 billion.  Moreover, it reported a 1% rise in passenger revenue per available seat mile, led by superb gains in the Pacific and European regions. Also, the recent reaffirmation of its second-quarter (Q2) guidance suggests a continuation of this positive trajectory, steering investor sentiment towards a more bullish outlook.

In a recent bullish note, Jefferies’ analyst Sheila Kahyaoglu talked about the success of UAL’s move to maintain its entire widebody fleet throughout the pandemic. This strategic decision was a major contributor to the record international profits UAL made last year. Moreover, it stands poised to boost its financials, leveraging its seasoned management as international operations stabilize.

SkyWest (SKYW)

SkyWest (NASDAQ:SKYW) is a Utah-based regional airline giant that carved out a robust position in its niche. It has become one of the largest regional carriers, connecting passengers to smaller regional airports and enjoying a strong pricing advantage. Moreover, its partnerships with the top legacy carriers in the U.S. enable the firm to offer cost-effective flights without impacting service quality.

Furthermore, its stellar financials mirror its strategic success. Its recently released Q1 earnings saw it posting a superb 16% increase in total revenue YOY to $803.6 million. Additionally, it has turned its previous net loss of $22 million in Q1 2023 into a notable net gain of $60 million in Q1 2024.

As we look ahead, expect a strong surge in travel demand as SKYW continues climbing in value. It was a standout performer in the passenger airline space last year, delivering upwards of a 108% gain. Additionally, with continued market demand, SkyWest could continue its upward ascent throughout 2024 among the best transportation stocks to buy.

On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines