An overview of the evolution of intelligent transport systems within the railway sector is presented, highlighting the pivotal role of “digital twins” technology for both infrastructure and rolling stock. The relevance of this topic arises from the ongoing global digital transformation within the railway industry, which aims to enhance the safety, reliability and efficiency of the transportation processes. Purpose: to conduct a comparative analysis of major projects, technological solutions and approaches to the implementation of digital twins in the European Union, China, and Russia, while also assessing their impact on operational performance. Methods: the analysis incorporates initiatives from the European Union, such as Shift2Rail and Europe’s Rail, which emphasize standardization and predictive maintenance; extensive Chinese government programmes such as the Digital Railway Plan set for completion by 2035, recognized for its emphasis on high speed and integrated technologies (such as BIM and 5G-R); and the pragmatic strategies adopted by Russian Railways (ACS BIM, the “Smart Locomotive”, and the digital twin of the marshalling yard), all aimed at achieving intelligent asset management by 2030. The findings indicate that all regions are utilizing a common technological foundation, encompassing BIM platforms, IoT/5G networks, AI/ML analytics, and simulation models. Results: the results demonstrate that digital twins facilitate early defect detection and predictive preventive maintenance, resulting in fewer accidents, increased reliability, reduced unplanned downtime by up to 30%, and improved economic efficiency, with maintenance costs reduced by up to 30% and operations optimized.