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Government and Industry Joint Strategy secures £2 billion investment for aerospace R&D

Aerospace, Aviation And Defence Knowledge Transfer Network (AADKTN) : 18 March, 2013  (Special Report)
This long term investment will be overseen by a new Aerospace Technology Institute - an industry-led body that will bring a national, single focus to research and facilities in the sector.
Government and Industry Joint Strategy secures £2 billion investment for aerospace R&D

The UK is the number one aerospace industry in Europe and globally is second only to the US. The sector supports more than 3000 companies distributed across the UK, employing around 230,000 people (direct and indirect). It is a high value-added, research and development (R&D) intensive sector, where investment can bring benefits in anchoring output and jobs for decades to come.

UK aerospace has a 17% global market share. The sector creates annual revenues of over £24 billion and exports circa 75% of what it produces, making a positive contribution to the UK’s trade balance. A characteristic of the industry is its large-scale need for a broad range of high-value skills and disciplines, including engineering, science, project management, production, service, training and finance.

Lifting Off: Implementing the Strategic Vision for UK Aerospace - setting out a shared government and industry vision for the sector

The AAD KTN as the custodian of the UK's Aerospace Technology Strategy and coordinator of the Technology Roadmaps, has played a key role in supporting the Technology Working Group of the Aerospace Growth Partnership over the past 2 years. The announcements today are a pivotal point in time that will enable long term decisions for UK based technology developments securing the industry's market share going forwards.

The CBI has responded to the launch of an aerospace industrial strategy and additional funding for other key sectors by the Department for Business, Innovation and Skills.

“This is an ambitious strategy showing the Government can balance the long view with shorter-term priorities. Funding for the creation of a new Aerospace Technology Institute will consolidate the UK’s position as a world leader in aerospace, helping the sector grow further and remain internationally competitive. The additional £500 million for other key sectors, such as automotive, is a useful first step in supporting some of our champion industries,” said Katja Hall, CBI Chief Policy Director.

Steve Radley, Policy Director at EEF, the manufacturers’ organisation, said: “This is a positive development for the Aerospace sector and the companies in its supply chain. The growth partnership has begun to set the course for ensuring the UK aerospace sector has the expertise and capacity to be world leading for the long term and, getting ahead of the curve in the development of key technologies is an important part of this. Government’s matching commitment is needed to make this a reality.
“Companies and sectors with the potential to deliver new technology and long term growth in the economy will do it where these is a coherent, consistent and certain approach from government. Tough choices on spending are the norm now so the government’s approach to funding industrial strategy priorities must be transparent and span the technology cycles of the sector they support.”

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