£90 million boost to fire up aerospace manufacturing
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Five innovative aerospace projects backed by nearly £90 million
investment set to revolutionize aerospace manufacturing in the UK
State-of-the-art technology including 3D printing machines will be
crucial to help industry build back better and greener from
COVID-19 Projects being funded today have the potential to help
secure 1400 jobs across the UK 1400 jobs could be secured across
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1400 jobs could be secured across the UK thanks to nearly £90 million investment in aerospace manufacturing announced today by Business Minister Paul Scully (Friday 12 March). The government-industry funding for the five projects through the Aerospace Technology Institute Programme aims to improve manufacturing within the aerospace industry, developing technology to make production lines quicker, more efficient, and more cost-effective. This will safeguard the UK’s manufacturing sector, ensuring that the UK remains a competitive market for aerospace companies as we recover from the coronavirus pandemic. Successful projects could help to secure approximately 1400 jobs across the UK, from Bristol to Belfast, and South Wales to Somerset, improving local growth and benefitting communities. Minister for Business Paul Scully said:
A particular focus of the project proposals is on creating lightweight materials and parts that will reduce how much fuel is used and that can be adopted onto future hybrid and electric planes. This will help the wider aerospace industry build back greener as it innovates and adapts to more sustainable travel over the next few decades. Projects receiving funding today include:
Aviation Minister Robert Courts said:
The government will help advance the UK’s future transport system through its extensive R&D Roadmap and to increase R&D public spending to £22 billion per year by 2024/5. This investment comes ahead of the consultation on the Aviation Decarbonisation Strategy this year, set out as part of the Prime Minister’s Ten Point Plan for a green industrial revolution, with jet zero and low carbon aviation as a key pillar to building back greener. The announcement of today’s grant winners forms part of a wider £3.9 billion government-industry investment in aerospace research and development projects from 2013 to 2026 through the Aerospace Growth Partnership and delivered through the ATI Programme. Notes to EditorsThe ATI Programme’s grant winners have been chosen by the Department for Business, Energy and Industrial Strategy, Innovate UK, and the Aerospace Technology Institute. The total investment in the projects will be £88.7 million, with £44.1 million coming from government and £44.6 million from industry. Aviation has a crucial role to play in achieving the government’s net zero commitment. To this end, other government support for the aerospace industry includes:
During the pandemic, aerospace companies have been able to benefit from the government’s extensive business support measures including furlough, CBILs, and Bounce Back loans. The aerospace sector and its aviation customers are being supported with almost £11 billion made available through loan guarantees, support for exporters, the Bank of England’s Covid Corporate Financing Facility and grants for research and development. |
