in Aerospace

Drones set to add £42bn to UK GDP by 2030

Posted 29 May 2018 · Add Comment

Drone technology has the potential to increase UK GDP by £42 billion (or 2%) by 2030, according to new research from PwC.

The research estimates there will be more than 76,000 drones1 in use across UK skies by 2030. More than a third of these (36%) could be utilised by the public sector (including in areas such as defence, health and education).

There are significant opportunities for economic gains across all sectors, but the GDP uplift generated by drones is forecast to have the largest impact on the wholesale and retail trade sector with an increase of 2.5%, amounting to around £7.7bn.



The report finds that drone technology could help the UK achieve up to £16bn in net cost savings by 2030 through increased productivity. The technology, media and telecoms (TMT) sector stands to save the most by using drones, with a potential net saving of £4.8bn by 2030.

Across the UK PwC estimates there will be 628,000 people working in the drone economy by 2030. New types of jobs to develop, build, operate and regulate drones will be needed, as changes in productivity and consumer demand resulting from drone usage create jobs.

Elaine Whyte, UK drones leader at PwC, commented: “Drones have the potential to offer a powerful new perspective for businesses across a variety of industries, delivering both productivity benefits and increased value from the data they collect. The UK has the opportunity to be at the leading edge of exploiting this emerging technology, and now is the time for investments to be made in developing the use cases and trial projects needed to kickstart our drone industry.

“I envisage that the advantages of drone technology will be well established within the decade - not only for business purposes, but also for helping to protect our society, for example, through being used by the emergency services. There is a need for current UK drone regulation to advance to see the estimations in our report become a reality, but it’s positive to see the Government already taking proactive steps to address this with the draft Drones Bill.

“In order to realise the full potential from drones, the immediate focus must be on developing society’s confidence in the technology to help drive acceptance and increase adoption. While drones are often currently viewed as more of a toy, by combining this emerging technology with the right business understanding and human insight there is a huge opportunity to help solve some of business and society’s most important problems.”

Baroness Sugg, Aviation Minister said: “PwC’s research demonstrates the significant economic benefits that drone technology can bring to the UK.

“And they are already improving people’s lives – helping the emergency services and keeping key national infrastructure like rail lines and power stations safe.

“Excitingly this is just the beginning, which is why Government is doing everything possible to harness the huge future potential through our Industrial Strategy and Drones Bill.”

Jonathan Gillham, economics director at PwC, added: “Drones could spark significant improvements in the UK economy. The rise in GDP and job creation from drones uptake are expected to be substantial, but productivity is likely to see the greatest gains. By automating routine tasks, improving effectiveness, safety and reducing costs, drones will free up people to focus on higher-value work.”
 

To view and download the full report, click here

 

* required field

Post a comment

Other Stories
Advertisement
Latest News

Bombardierís Global 7500 reaching completion

Bombardier has announced that Global 7500 aircraft started arriving at the companyís Montreal facilities last month, where high-precision completion work is now being carried out.

Direct flights from DSA to Belfast take off

Doncaster Sheffield Airport (DSA) saw the start of a new Flybe route direct to Belfast jetting off from today.

Gatwick launches Summer Festival

London Gatwick has launched its first ever airport-wide festival to celebrate the start of the British summer.

Cardiff Airport enjoys 15 months consecutive growth

The national airport for Wales is continuing on its positive journey of transformation and this week announced 15 months of consecutive passenger growth, with over 1.51 million flying from Cardiff.

Cobham launches new X-Band coaxial limiter

Cobham Advanced Electronic Solutions has announced the launch of the ACLM5022C110, a new 8 to 12 GHz X-band coaxial limiter, providing high performance in a compact package.

Sigma's New Product Introduction and R&D team set to drive innovation

Aerospace manufacturer Sigma Components is working in partnership with OEMs and Tier 1 suppliers on new technologies to drive innovation and environmental performance in the aerospace sector, via its New Product Introduction and

RUBB SK2105211118
See us at
AdvancedEngin BT1406011118SMI GMSCBT3005081118DVD18BT3105200918FIL18 BT111017220718SMIFAVSBT151118