| Practice area: | Downstream Terrestrial Applications | Space | UK Government |
|---|---|
| Client: | Department for Transport |
| Published: | 11 November, 2021 |
| Keywords: | modelling quantitative analysis Maritime technologies report |
The consortium, composed of London Economics (lead) and NLA International (NLAI), was commissioned by Maritime Research and Innovation UK (MarRI-UK) to undertake economic research to inform the Department for Transport (DfT) approach to supporting the smart shipping industry in the UK. The research focuses on the UK’s strengths in smart shipping technology and provides economic and technology research to inform DfT’s approach to supporting the smart shipping sector and R&D in the UK. The model developed capture the additionality of a government funding to the industry (GVA, Turnover, Employment), the technology spillovers, and the societal and environmental benefits.
The study shows that for a selection of smart shipping technologies, a £560m R&D investment could generate an additional turnover of £1,600m and 11,500 additional FTEs to recipient companies, over 30years. This would contribute up to £750m to the UK GDP. Additional impacts captured show that additional technology spillovers could reach £56m.