Solar powered aircraft, ultra-efficient wings and medical treatment carrying drones are just some of the technologies backed by £273 million to advance low-carbon aerospace innovation, economic growth and jobs, Business Secretary Kwasi Kwarteng will announce at the Farnborough International Airshow today (Monday 18 July).
81,000 jobs have been created so far through the Aerospace Technology Institute Programme, with £97 billion of value added to the UK economy to date. Today £155 million of joint government-industry funding has been announced to support new projects unlocking the latest in green aerospace innovation, such as hydrogen and battery technology, and ultra-efficient manufacturing processes and technologies, such as digital and additive manufacturing – generating further job opportunities and leads in emerging technologies and sectors.
A further £105.5 million of government-industry funding will be shared by projects focussed on developing air transport systems and enabling new vehicle technologies through the Future Flight Challenge. The projects could create more than 8,800 jobs and include making motorways safer and improving journey times by using electric drones to survey hazards, to using electric drones to distribute medical treatments across Scotland, including to cancer patients.
The Business Secretary will also announce up to £12 million is to be made available through the Regulators’ Pioneer Fund to back initiatives that could unlock industries of the future through regulation – from flying cars to vaccine-carrying drones. Finally, a Drone Ambition Statement will be published today, outlining how government and industry can work together to seize on drones’ potential £45 billion of benefit to the economy by 2030.
Business Secretary Kwasi Kwarteng said:
“The return of the Farnborough International Airshow after a four-year absence is a clear example of the aerospace and aviation sector’s recovery. Today’s package of support will further this recovery and help the sector seize on the enormous opportunities for growth that exist as the world transitions to cleaner forms of flight.
“Through funding for the latest in green technology, such as solar and hydrogen powered aircraft, and setting out our vision for the fast-growing market for commercial drones, we are once again placing the aerospace sector directly at the centre of our plans to deliver jobs and grow the economy.”
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