Innovate UK launches UK Transport Vision 2050

Innovate UK have prepared the following article.

The new document sets out the changes, challenges and opportunities that will confront the transport sector over the next 30 years.

Innovate UK has announced the launch of its UK Transport Vision 2050.

The vision is an in-depth study that sets out what the UK transport system may look like in 2050 and outlines the likely steps along the way to achieving this.

The aim is to gather UK government and industry around a single vision. It will inform how we all invest in the future of transport as an interconnected system that delivers for people and places.

It is also to provoke debate, and Innovate UK is seeking feedback to help refine and improve the vision.

Six areas to achieve the vision

Innovate UK has identified six areas where steps need to be taken to achieve the 2050 vision:

• travel and transport demand
• connectivity
• energy vectors
• autonomy
• business models
• infrastructure.

The vision and pathways highlight major new opportunities for economic growth and societal benefit, showing how businesses need to adapt and evolve in order to secure market position and grow.

Major trends identified

These challenges and opportunities are largely the same across the globe. The major trends identified are:

1. powering of transport in the future will radically change, bringing significant opportunities and risk for UK design, production and supply chains
2. electricity, hydrogen, ammonia and sustainable fuel will replace petroleum and create new opportunities for generation, production and distribution
3. greater connectivity, autonomous systems, new business models and robotics will transform transport. The UK has great strengths in these areas, and the estimated global market size for vehicle data alone is $750 billion in 2030.

This vision document will be regularly updated and used to inform decisions on future investments. The future is yet to be written. Innovate UK look forward to working with all to invest in the future of transport.

Read more here.