The UK Government has announced £218 million in funding to help develop cutting-edge green aviation technology. This announcement, which came out during the 2023 Paris Air Show, will aim to grow the UK’s share of the global aerospace market.
The £218M will come as combined government and industry funding will be delivered through the Aerospace Technology Institute (ATI) Programme. The goal is twofold with the intention of creating more high-skilled jobs and producing greener technologies for the industry. With more high-skilled jobs, the investment into aerospace technology across the UK will strive to create new green innovative landing equipment as well as lower carbon and more efficient aircraft wings, engines, and sensors.
The joint commitment with industry to invest in new aircraft and manufacturing technologies is set to help secure at least £20 billion of further private investment in aerospace in the UK and support over 100,000 jobs. Backed by the Government, the ATI funds world-class R&D in the UK aerospace sector, and this funding builds on £3.2 billion of ATI support from government and industry for the sector since 2013.
This cash injection will support ten groundbreaking new projects led by companies including Airbus and Rolls-Royce.
Nusrat Ghani, The Minister for Industry and Economic Security announced: “We want to achieve net zero air travel by 2050, and I want UK firms to lead the way in developing exciting technologies of the future. Backing our innovators will attract even more investment and create massive export opportunities for British firms.”
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