UK to lead transport revolution
Following the launch of the government’s Industrial Strategy, the Transport Systems Catapult (TSC) has welcomed the renewed focus on research and development and the inclusion of future mobility as a key challenge besides artificial intelligence, aging population and clean growth.
The TSC is citing a transport revolution which is dramatically changing the way we move people and goods, with increased focus needed to ensure the UK reaps the benefits. It commented that there will be huge economic opportunities, but the UK will need to address market failures and fight for a place alongside major international players such as China and the US.
TSC, CEO Paul Campion commented, ‘The Transport Systems Catapult believes the government’s Industrial Strategy is a positive step towards the UK gaining a share of an emerging £900bn global future mobility market, featuring connected and autonomous vehicles, data driven business models and smart infrastructure solutions.
‘A transport revolution is coming, and the way we travel and move goods will change dramatically in the next decade. The Industrial strategy is an opportunity to make sure the UK is at the forefront of this revolution, rather than being mere passengers – with the economic rewards going overseas.’
He continued, ‘We are confident that increased investment in future mobility can lead to high quality jobs, innovation and growth in the UK economy – even as we compete on the world stage with the likes of China and the US.
‘However, there are also considerable market failures to address if we are to achieve the full benefits of new mobility solutions. Siloed thinking in our highly complex transport network and a lack of confidence in sharing data will hold us back if not addressed. Breaking down these barriers will be the key. Promoting the value of collaboration and helping established transport providers re-align their businesses to meet global technology trends will be as important as bottom-line investment in new ideas.’