The Deputy Prime Minister, and Liberal Democrat leader, Nick Clegg is today announcing a £154 million investment in research projects to keep the UK as a world leader in aerospace innovation. The investment will be used in four areas - which the UK excels in - wings, engines, aircraft structures and radio communications.
This funding is part of a £2 billion government and industry investment in researching and development for the next generation of quieter, faster and more environmentally friendly planes. It will help to secure more than 100,000 skilled jobs in aerospace and its supply chain in the long term, in a market expected to be worth over £4 trillion over the next 30 years.
Commenting Nick Clegg said: “The UK’s aerospace industry is going from strength to strength and helping our economic recovery. We are the number one aerospace industry in Europe and second only to the United States globally. I want to ensure the UK remains at the cutting edge of aerospace innovation, which is why I am pleased to announce that we are investing £154 million for research to explore new technologies like the 3D printing of plane parts and creating lighter, greener aircraft. By working in partnership with business, we are building a stronger, more balanced economy, creating more jobs and sharing the wealth equally.”