Prime Minister Commits £975 Million to Propel UK Aerospace Industry into the Future

The UK aerospace industry has received a monumental boost, with the Prime Minister announcing a £975 million investment over the next five years to support innovation and growth in this globally competitive sector. The funding will sustain thousands of high-skilled jobs across the country, reaffirming the UK’s position as a leader in cutting-edge aerospace technology.

A Lift-Off for Regional Growth
The Aerospace Technology Institute (ATI) Programme, a cornerstone of this initiative, has been extended to accelerate advancements in aerospace technology and foster job creation. This extension will benefit key hubs such as Broughton, Filton, and Derby, where aerospace innovation is a source of local pride and economic strength.

During his first visit to Wales since the recent Budget announcement, Prime Minister Keir Starmer celebrated the aerospace industry’s pivotal role in the UK economy. With Wales hosting one of the largest aerospace clusters globally—employing over 20,000 people—this visit underscores the government’s commitment to empowering the sector.

“From modern aircraft engines to helicopters, the UK’s aerospace industry is truly world-class,” Starmer remarked. “By accelerating our investment, we will unlock the tech of the future and deliver growth and opportunity across our country.”

An Engine for Innovation and Sustainability
The funding not only strengthens the aerospace industry but also aligns with broader government goals. Projects supported by this investment will help develop zero-emission flights, fostering sustainability while maintaining the UK’s dominance in global wings and engine manufacturing. Funding applications open in January, with projects anticipated to take off in the autumn of 2024.

The aerospace sector will also play a critical role in achieving the government’s Industrial Strategy and Net Zero targets, while continuing to underpin national defence capabilities. The Royal Air Force and Royal Navy rely heavily on advancements in aerospace technology, making this investment a key driver for both economic and strategic growth.

Jonathan Reynolds, Business and Trade Secretary, highlighted the sector’s significance:
“Our world-class aerospace sector added almost £40 billion to the economy last year, supporting high-skilled jobs in every part of the UK. Backing the sector with this funding ensures the UK remains at the forefront of aerospace innovation.”

Wales and the South West: Aerospace Powerhouses
Ahead of his visit, the Prime Minister also confirmed £49 million in new aerospace projects specifically for Wales. Together, Wales and the South West are responsible for designing and assembling nearly half of the world’s large civil aircraft wings, emphasizing the regions’ global importance.

First Minister Eluned Morgan celebrated the announcement:
“Wales is a cornerstone of the UK’s aerospace industry, with over 20,000 people employed here in high-quality, skilled jobs. This news adds to a series of exciting developments for Wales this autumn.”

John Harrison, Chairman of Airbus UK, echoed these sentiments:
“The £975 million commitment offers certainty for long-term aviation investment, supporting highly skilled jobs and reaffirming aerospace’s central role in the UK’s R&D and growth strategy.”

Taking Flight Towards a Bright Future
This bold investment reflects the government’s ambition to position the UK aerospace industry as a global leader in innovation and sustainability. By fostering cutting-edge developments and creating jobs in every region, the aerospace sector is poised to soar to new heights, delivering prosperity and progress for communities across the nation.