Australia’s Minister for Infrastructure, Transport, Regional Development and Local Government and the Governor of Michigan jointly renewed and expanded cooperation between Australia and Michigan to foster collaborative efforts in preparing for a transport future that prioritises environmental sustainability, safety, enhanced connectivity, and improved accessibility for communities.
The Memorandum of Understanding (MoU) will serve as the foundation for continued collaboration between the automotive and technology sectors of Australia and Michigan, as well as policymakers from both regions.
The Memorandum of Understanding (MoU) highlights the shared dedication of the individual and Governor Gretchen Whitmer to address climate change by reducing emissions in the transport sector. It emphasises the importance of fostering collaboration in developing future technologies and enhancing supply chain connectivity within the sector.
Similar to Michigan, Australia has made a commitment to achieve net zero emissions by 2050. This MOU will facilitate future collaboration between the two jurisdictions, ensuring that the transport sector actively contributes to the overall goal of emissions reduction.
New and emerging transport technologies have the potential to enhance accessibility, safety, reduce congestion, and increase productivity. Recognising the significance of these advancements, the Australian Minister stated that the government assumes a strategic leadership role in facilitating the safe and lawful adoption of such technologies in Australia. In this endeavour, Michigan, known as a longstanding global hub for automotive industry innovation, becomes an important international partner in further advancing its collaborative efforts in the field of transport technology.
Importantly, within the Memorandum of Understanding (MoU), Australia’s commitment to enhancing the engagement of First Nations businesses in the automotive sector, including future transport business opportunities, is outlined.
This commitment aligns with the Albanese Government’s dedication to ensuring that Australia’s foreign policy reflects the country’s complete identity. The continuation of the collaboration between Australia and Michigan is eagerly anticipated, as it will contribute to the achievement of a better and safer transport future that forms the foundation of prosperity for both regions.
Smart transport, also known as intelligent transport, refers to an advanced infrastructure for transportation that aims to offer innovative services for managing traffic and transport. It encompasses various applications like parking management and guidance, passenger information, and traffic control. The global smart transportation market is anticipated to expand to US$251.0 billion by 2030, with a compound annual growth rate (CAGR) of 10.2% from 2021 to 2030.
Intelligent transportation systems (ITS) are advanced applications that provide ground-breaking services for transportation and traffic management. These systems allow multiple users to be better coordinated and informed through the use of technologies such as car navigation, traffic signal control systems, speed cameras, and real-time data analysis. Achieving this intelligent transportation information involves enhancing infrastructure, implementing sustainable fuels for public transport vehicles, and efficiently providing mobility services in rapidly growing cities.
The COVID-19 pandemic has had a profound impact on the transportation industry, causing widespread uncertainty and disruption. Despite these challenges, market players in the smart transportation industry have embraced innovative strategies to capitalise on growth opportunities. There is a growing demand for effective traffic management systems and improved transportation infrastructure to ensure passenger safety.
As the world gradually recovers and implements new restrictions and policies, the transportation sector, particularly in the retail industry, is expected to witness a significant recovery. This recovery, coupled with technological advancements in vehicle safety, is likely to have a positive impact on the smart transportation market.
Moreover, the advent of cloud-based technologies and advancements in vehicle-to-vehicle (V2V) and vehicle-to-grid infrastructure (V2I) have facilitated the realisation of smart transportation. These technologies are designed to offer ground-breaking services in various aspects of transportation and traffic management. They empower users to access improved information and use transport networks more safely and efficiently.
