This article lists anniversary events related to rail transport that occurred on May 3.

• 1858 – While under lease to Bristol and Exeter Railway, the Somerset Central Railway is extended to Burnham-on-Sea.
• 1863 – The Atchison and Topeka Railroad officially changes names to the Atchison, Topeka and Santa Fe Railroad to more closely match the railroad's goal of reaching Santa Fe, New Mexico, by rail.

• 1952 – Wallace station on the Chicago "L" Stock Yards branch is closed.

• 2005 – The Iranian president Mohammad Khatami leads the ceremony inaugurating passenger rail service between Mashhad and Bafq, Iran.
• 2005 – Union Pacific Railroad's transcontinental mainline is blocked when a train derails in Galt, Illinois (about 50 miles or 80 kilometres east of the Quad Cities), and destroys the 140 ft (43 m) bridge across Elkhorn Creek.
• 2021 – Twenty-six people are killed and ninety-eight are injured after an elevated section of the Mexico City Metro collapses.