Spotlight On…. Unlocking Market Potential

According to PwC, new modes of flight will be worth ￡47.1 billion annually to the UK by 2040. The current market realisation is however "virtually zero".

The Advanced Air Mobility (AAM) market is predicted to contribute ￡2.1 billion according to the PwC report “Advanced Air Mobility: UK Economic Impact Study” published last month.?This sits atop the ￡45 billion which drones will contribute from 2035 (Skies The Limit, PwC, 2022).

Since establishing Volant Autonomy we have consistently seen valuations of this magnitude for the future drone and AAM markets. At over ￡47 billion per year combined there is huge potential in these markets, which is virtually unrealised today. This is a point which bears repeating. At Volant, our primary purpose is to overcome the barriers to these new modes of flight so that operators can realise this untapped potential.

The associated socio-economic and environmental benefits would include ￡22 billion in cost savings; 650,000 new jobs and 225 million reduction in carbon emissions. It would equate to over 900,000 drones operating in the UK skies as well as thousands of eVTOLs capable of moving people.

With benefits of this magnitude, investing to unlock the markets is logical but as PwC's reports identify, there are multiple complex challenges. PwC highlight several significant technological challenges including:

• Uncrewed Traffic Management (UTM) - capable of high-density of operations and integrated with crewed aviation. Volant VIA addresses this challenge through high-fidelity SORA planning and upgrading UTM through fast, automated and safe strategic deconfliction.
• Detect And Avoid capability - to avoid collision with other aircraft and terrain. Volant TRAJECT is a certifiable ACAS solution onboard the platform. It maintains the same level of safety as civil aviation.
• Autonomy - removing the need for "1 to 1" pilot input. Volant FLYTE builds on TRAJECT through tactical decision-making that is proportionate and synthesizes human control.

As highlighted by PwC automation is pivotal to enabling operations at scale which creates positive feedback supporting the economic case for drones and AAM. Achieving this will then open up use cases not yet considered. To make this all possible, a central assumption in market modelling is that autonomous flight will be as safe as commercial airlines are today. Our approach to product development ensures that our software will be safe and certifiable in line with the current flight safety standards.

To unlock this multi-billion pound market the complementary objectives of integration, automation and safety have to be achieved. To see how Volant Autonomy is at the forefront of bringing these products to market take a look at our website www.volantautonomy.com or send me a message.

For wider reading on the potential of our market, take a look at the 普华永道 reports Advanced Air Mobility, PwC, July 2023 and Skies Without Limits, PwC, July 2022. They certainly got us thinking.

#drones #aam #engineering #techopportunities #startupfunding