Europe, UK (Commonwealth Union) – The aerospace industry is a dynamic and technologically advanced sector that encompasses the design, development, and production of aircraft, spacecraft, and related systems and equipment. It plays a crucial role in global transportation, defense, and space exploration, driving innovation and economic growth.
Business and Trade Secretary Jonathan Reynolds recently unveiled over £100 million in government industry funding in combined government and industry funding for advanced aerospace technology projects aimed at promoting greener air travel during the launch of the 2024 Farnborough Airshow.
This announcement coincides with the latest data from the aerospace industry’s trade association, ADS, revealing that the sector contributed £38 billion to the UK economy in 2023.
A total of just under £103 million in funding, allocated through the Aerospace Technology Institute (ATI) Programme, has been designated for five aerospace research and development projects spearheaded by GKN Aerospace, Queens University, Rolls-Royce, Short Brothers, and ZeroAvia.
These projects will drive innovations such as zero-emission hydrogen-powered flight, new sustainable propulsion systems, and advanced turbine technologies. They aim to enhance thousands of high-skilled aerospace jobs across the UK and attract investment into the UK’s aerospace industry, aligning with the Government’s forthcoming Industrial Strategy.
Business and Trade Secretary Jonathan Reynolds pointed out that the world-class aerospace sector contributed nearly £40 billion to the economy last year, and by supporting it to develop pioneering new technologies, we are fostering economic growth and sustaining high-skilled jobs throughout the UK.
“It’s fitting that I’m launching this new support here at Farnborough Airshow, where the best of British innovation is showcased on the global stage, reinforcing our commitment to placing innovation and manufacturing at the heart of our Industrial Strategy.”
The ATI Programme represents a collaborative investment between the government and industry. Its aim is to provide competitive funding for research and technology development within the UK, ensuring the country remains a leader in civil aerospace and advances towards net-zero aviation. The Department for Business and Trade takes a proactive stance in supporting the aerospace sector. Since 2013, the government and industry have co-invested around £3.6 billion through the ATI Programme, encompassing both grants and industry match funding. This initiative has engaged 438 distinct partners from across the UK, including 290 SMEs.
