Assets4Rail shares the Shift2Rail view of having an ageing European railway infrastructure that needs to cope with the expected increased traffics in the future. Likewise, reliable rolling stock will be required to crystallize the desired modal shift to rail. Both goals relay on a proactive and cost-effective maintenance and intervention system in the assets. Assets4Rail aims to contribute to this modal shift by exploring, adapting and testing cutting-edge technologies for railway asset monitoring and maintenance. To achieve that, Assets4Rail follows a twofold approach, including infrastructure (tunnel, bridges, track geometry, and safety systems) and vehicles. The project benefits from a strong multidisciplinary consortium. ITS Leeds is a key member of the team, leading and undertaking the economic appraisal of a wide range of railway innovations developed by Assets4Rails.