An amount of over £200 million has been allocated by the government of the United Kingdom, in a bid to develop new modern technology for green aviation and grow the UK’s share of the global aerospace market.
In a recent press release, the UK Department for Business and Trade has revealed that the funding package for these projects is £218 million, jointly contributed by the Government and industry, VisaGuide.World reports.
According to the same, this investment aims to advance innovative green landing gear technology and revolutionise the aircraft industry by introducing lower carbon emissions and highly efficient aircraft wings, engines, and sensors.
“We’re growing the economy and supporting high-skilled, high-wage careers across the UK by backing our world-leading sectors like aviation,” Minister for Industry and Economic Security Nusrat Ghani pointed out.
He also added that by 2050 it is necessary to achieve net zero air travel and for UK firms to lead the way in developing the exciting technologies of the future.
Furthermore, the authority noted that the esteemed Aerospace Technology Institute (ATI), with unwavering support from the Government, continues to provide substantial funding for world-class research and development (R&D) endeavours within the UK’s aerospace sector.
This recent funding announcement further amplifies the Government and industry’s commitment to the sector, building upon the remarkable £3.2 billion ATI support since 2013.
Thanks to this invaluable support, over 300 groundbreaking R&D projects have been backed, fostering innovation and propelling the industry forward. Additionally, this funding has played a pivotal role in creating thousands of high-wage, environmentally friendly jobs, with an impressive 90 percent of these opportunities situated outside London and the South East.
“The strong partnership we have with DBT and the ATI enables Airbus to develop new technologies that will help boost the skills we need to keep aerospace manufacturing in the UK,” Airbus UK Chairman and General Counsel John Harrison also added.
Appreciating the partnership with the Department for Business and Trade and ATI, Rolls-Royce Director of Aerospace Technology and Future Programs, Alan Newby, emphasised that this has enabled the acceleration of necessary research that improves production processes and the performance of current and future products.
In addition, the CEO of the Aerospace Technology Institute, Gary Elliott, revealed that over the period spanning from 2014 to 2025, both the Government and industry are projected to embark on a co-investment journey amounting to £4 billion within the aerospace sector. Thus, this substantial funding commitment is specifically earmarked for developing cutting-edge technologies geared towards ultra-efficient and zero-emission aircraft.