The UK is well-known for its aerospace engineering industry, and its continued investment in the sector means it is regarded as ‘world-class’.
Industry minister Alan Mak recently spoke about aerospace development in Britain, saying it is a “British success story”, according to FlightGlobal.
He added that the sector will continue to thrive “with government and industry coming together to provide billions of pounds in unprecedented support”.
The Aerospace Technology Institute (ATI) was created ten years ago to boost the industry by coordinating its technology strategy and funding.
While the UK could potentially increase its share of global aerospace revenue to 18 per cent by 2050, it is essential ongoing investment is put into the industry. This will help it to stay competitive in the global market, particularly as technology is regularly developing.
Since its creation, the ATI has managed to use £1.9 billion of grant money from the UK government by distributing it among organisations. They have also been able to leverage £7 of private investment for every £1 given by the government, which has helped boost the sector.
Earlier this year, Cranfield University, which is the only postgraduate aerospace research centre, secured funding of £69 million for the Cranfield Hydrogen Research Incubator, helping the UK delve into the world of hydrogen-powered aviation.
Katherine Bennett, chief executive officer of High Value Manufacturing at the ATI, recently noted that decarbonising flying is “one of the greatest challenges the sector faces”.
By supporting FlyZero, which is hoping to create zero-carbon emission commercial flights, the ATI hopes the UK aerospace industry will remain one of the best in the world for years to come.