June 12 (Bloomberg) -- Britain’s first transport modeling center will target a global market for intelligent-mobility technology such as driver-less cars likely to be worth 900 billion pounds ($1.5 trillion) a year by 2025.
The center will use simulation, visualization and modeling systems to test the viability of rail, road and air networks with the aim of securing a 10 percent share of the “smart travel” market for U.K. companies, the government said today.
Bringing together industry, researchers and entrepreneurs, the Transport Systems Catapult center will receive 50 million pounds in state funds over five years and a further 100 million pounds from business. The hub is located in Milton Keynes, 50 miles north of London and the base for companies spanning Network Rail Ltd. to the Red Bull Formula 1 team.
“Intelligent mobility harnesses new technologies to create seamless journeys, where transport is smart and connected and delays and congestions are a thing of the past,” said Steve Yianni, who heads Transport Systems Catapult, one of seven elite-technology centers being set up by the government.
Businesses including rail operator FirstGroup Plc, train manufacturer Hitachi Ltd., Spanish phone company Telefonica SA and carmakers Ford Motor Co., Jaguar Land Rover, Bayerische Motoren Werke AG and Honda Motor Co. have all signed up to use the center, as has the government Highways Agency.
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