Lift off for new £24m investment in UK companies to develop new aerospace technology

Funding | Manufacturing | National | Technology

The government today backed pioneering aerospace SMEs with the launch of a new £24m fund for collaborative research and development (R&D) projects.

The new funding opportunity, announced by Business Minister Andrew Stephenson at the Paris Airshow, will help keep UK aerospace suppliers at the forefront of aerospace manufacturing.

Through the programme up to £12m government funding, matched by industry, will be available as part of the Open Collaborative Research and Development (CR&D) competition, supported by the Aerospace Technology Institute Programme.

The Business Minister also announced the opening of the new round of the National Aerospace Technology Exploitation Programme (NATEP 3) to help SMEs develop innovate technology, including, virtual reality training for cabin crew and 3D aerospace structures to lighten aircraft, and bring it to market quickly to boost their global competitiveness.

In a speech, Business Minister Andrew Stephenson said: “Innovation and R&D are crucial for the UK aerospace sector and I am delighted that we have today launched two programmes to support R&Dfor SMEs.

“Through our Industrial Strategy we are ensuring the UK remains a world-leader by boosting R&D activity, developing new technology and increasing the UK’s share of the growing aerospace market.”

To boost UK aerospace R&D activity, develop new technology and increase the UK’s share of the growing aerospace market, industry and government made a total joint funding commitment of £3.9bn for civil aerospace research from 2013 to 2026.

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