New aerospace innovation to propel UK to growth and greener skies backed by £273 million
Solar powered aircraft, ultra-efficient wings and medical treatment carrying drones are just some of the technologies backed by £273 million to advance low-carbon aerospace innovation, economic growth and jobs, Business Secretary Kwasi Kwarteng announced at the Farnborough International Airshow on Monday 18 July.
81,000 jobs have been created so far through the Aerospace Technology Institute Programme, with £97 billion of value added to the UK economy to date. Today £155 million of joint government-industry funding has been announced to support new projects unlocking the latest in green aerospace innovation, such as hydrogen and battery technology, and ultra-efficient manufacturing processes and technologies, such as digital and additive manufacturing – generating further job opportunities and leads in emerging technologies and sectors.
A further £105.5 million of government-industry funding will be shared by projects focused on developing air transport systems and enabling new vehicle technologies through the Future Flight Challenge. The projects could create more than 8,800 jobs and include making motorways safer and improving journey times by using electric drones to survey hazards, to using electric drones to distribute medical treatments across Scotland, including to cancer patients.
The Business Secretary also announced up to £12 million is to be made available through the Regulators’ Pioneer Fund to back initiatives that could unlock industries of the future through regulation – from flying cars to vaccine-carrying drones. Finally, a Drone Ambition Statement will be published today, outlining how government and industry can work together to seize on drones’ potential £45 billion of benefit to the economy by 2030.#News#Aerospace#Innovation#Funding