Less than 10 per cent of stolen equipment is recovered, according to the National Equipment Register's (NER) fourth annual report on equipment theft in the US.
The report estimates USD300 million to USD1 billion of equipment is stolen annually. There is currently no central place where equipment losses are recorded so existing figures were used in making estimates.
The report is based on data from NER's database of more than 82,000 entries of construction and farm equipment thefts, and information from the Insurance Services Office (ISO).
Tom Stone, FBI-LEEDA executive director, said it was the "most complete analysis of equipment theft trends to date" and an "excellent example of how a public-private partnership can benefit law enforcement and private industry".
Skid steer loaders, tractors and backhoe loaders were the top three most stolen items of equipment. Lifting equipment, dozers and trenchers, making up less than 10 per cent, were the bottom three.
Based on 4,858 theft reports submitted to the NER, the states of Texas, California, Florida, North Carolina and Georgia accounted for 38 per cent of all thefts.
The report said theft levels related to the amount of equipment in particular areas. Theft "hot spots" also emerged when organised groups of thieves worked in particular areas. Noticeable drops in theft rates were sometimes seen when groups were detected.
The report said it was insufficient to focus on security of premises and worksites. Equipment must be secured by locks and immobilisers and through the deterrence of unique paint schemes and markings and registration programs. More equipment was stolen from "other's premises", like worksites, than insureds' premises.
In contrast to car theft, newer pieces of equipment were more likely to be stolen. New cars had sophisticated anti-theft technology while equipment design was still mainly driven by productivity, the report said.
No statistics were available to create a general profile of thieves but information from theft and recovery investigations indicated thieves had good knowledge of equipment and weaknesses in physical security.
NER advised equipment owners to make accurate information about equipment ownership accessible to law enforcement 24 hours a day.
"The minimum requirement is for owners to keep accurate lists of equipment with PIN/serial numbers and to report this to law enforcement, their insurer and NER as soon as a theft is discovered," the report said.
An analysis of thefts reported to ISO showed only 6.5 per cent of stolen equipment was recovered.
FBI-LEEDA, the FBI-Law Enforcement Executive Development Association, is a non-profit association aiming to advance the science and art of police management and administration worldwide. It originated at the FBI Academy, in Quantico, Virginia.