Government invests £975m in aerospace technology industry

The UK government has announced it will invest £975 million into the aerospace industry over the next five years.

The investment will extend the Aerospace Technology Institute (ATI) Programme and boost aerospace centres in Broughton, Filton and Derby.

The government said the investment will create job opportunities, speed up innovation and support the industry.

Additionally, the investment aims to support the goal of creating zero-emission flights and positioning the UK as a leader in aerospace technology manufacturing.

Companies will be able to bid for a share of the funding in January next year, with projects expected to begin in the autumn.

The government added that aerospace will be a key part of its industrial strategy and defence targets, as the RAF and the Royal Navy both rely on the technology.

“Our world-class aerospace sector added almost £40 billion to the economy last year, supporting high-skilled jobs in every part of the UK,” said business and trade secretary Jonathan Reynolds. “Backing the sector with this funding will ensure the UK can continue to pioneer new technologies, all while delivering the economic growth that will be felt in communities across the country.”