The objective of this paper is to show the current status of research that combines fleet dimensioning and vehicle routing in maritime and road-based transportation. The paper shows an overview of the literature on this field since the first published papers in the 1950?s. The literature review includes some early papers regarding fleet sizing and focuses particularly on the Fleet Size and Mix Vehicle Routing Problem (FSMVRP) and some of its variants. Different mathematical models for the FSMVRP are presented and compared to each other. Several other related problems are presented, and research that treats the fleet dimensioning and routing issue in a strategic context are discussed in addition to real life problems on the same topic. We also point to similarities and differences between the two selected modi for transportation. The paper relates the literature with aspects of industrial applications with a critical, but constructive, look at the research conducted so far. Major issues for future work are suggested..