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What will £2bn mean to our industry?

Posted by: Jon Rance 8 Apr 13 - 5:02PM  | Aerospace

Following the UK Government's announcement of a £2 billion (half Government, half private) investment to keep the UK at the forefront of world manufacturing in aerospace, what does this actually mean?

Certainly any investment is excellent news and over a relatively short period of seven years. With a focus on a UK Aerospace Technology Institute, this will surely help the UK to support the development of quieter and more energy-efficient aircraft.

Perhaps the first steps will be towards support the next generation of single aisle aircraft based on the existing A320 and 737 models maturing rapidly. With the development of the A380, 787 and A350’s first flight around the corner; research, development and technology have taken some considerable development steps in the civil aerospace sectors most recent history.

From a recruitment perspective, this estimated investment will secure in the long term up to 115,000 new jobs in the sector and supporting supply chain. Manufacturing capacity as well as materials and technology development could well see the benefits and support the continuation of the UK’s qualified and market leading expertise in aerospace design, development and delivery.

The UK aerospace sector currently involves more than 3,000 companies and employs circa 230,000 people Estimates target that by 2031 the civil aerospace market could be worth in excess of £2.8 trillion.

What do you think? Let us know.

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