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PM Announces £975 Million Investment in UK Aerospace Industry
Funding to create thousands of high-skilled jobs across the country
Fiona Kyle
November 15, 2024
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The UK aerospace sector has received a significant boost with the Prime Minister's announcement of a £975 million investment over the next five years. This funding aims to drive innovation, create thousands of high-skilled jobs, and support the UK’s standing as a global leader in aerospace technology.

Opportunities in Key Aerospace Hubs

The investment will extend the Aerospace Technology Institute (ATI) Programme, benefitting major aerospace centres in Broughton, Filton, Derby, and beyond. The programme will focus on accelerating technological advancements, supporting job creation, and bolstering an industry vital to the UK’s economy and net zero ambitions.

Prime Minister Keir Starmer said: "From modern aircraft engines to helicopters, the UK’s aerospace industry is truly world-class. By accelerating our investment, we will unlock the tech of the future and take a crucial step forward in our mission to deliver growth and opportunity across our country."

Projects funded through this programme will begin in Autumn 2025, with bidding for funding set to open in January.

Supporting a Key Growth Sector

The aerospace sector contributed nearly £40 billion to the UK economy last year, with employment opportunities spanning manufacturing, engineering, and research. The government’s investment will ensure the sector remains competitive globally, while also advancing green technologies such as zero-emission flights.

Jonathan Reynolds, Business and Trade Secretary, stated: "Backing the sector with this funding will ensure the UK can continue to pioneer new technologies, all while delivering the economic growth that will be felt in communities across the country."

Additional Investment in Wales

Ahead of the Prime Minister’s visit to Wales, an additional £49 million was allocated to aerospace projects in the region, which employs over 20,000 people in high-skilled roles. Together with the South West, Wales contributes to designing and assembling nearly half of the world’s large civil aircraft wings.

First Minister Eluned Morgan commented: "Wales is a cornerstone of the UK’s aerospace industry, with over 20,000 people employed here in high-quality, skilled jobs in the aerospace and defence sectors. I welcome today’s news, another in a succession of job announcements for Wales this autumn."

Long-Term Commitment to Growth

This funding forms part of the government’s broader Industrial Strategy, designed to foster economic growth while meeting net zero targets. It also ensures continued collaboration with industry leaders such as Airbus.

Airbus UK Chairman John Harrison said: "The commitment of £975m for the aerospace sector over five years offers certainty for long-term sustainable aviation investment and highly skilled jobs, delivering on the UK’s R&D and growth plan and acknowledging aerospace’s key role in the upcoming Industrial Strategy."

For job seekers, this investment signifies an exciting opportunity to join a high-growth, future-focused industry at the cutting edge of innovation.

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