Aerospace projects worth £60m cleared for take off

The funding has been allocated from the Aerospace Technology Institute (ATI), which will see government and industry jointly invest £2 billion over the next seven years in new technology and manufacturing. This could secure up to 115,000 high value jobs in aerospace and its supply chain in the long term. It forms part of the Aerospace Industrial Strategy, a long-term economic plan which sets out how to keep the UK industry globally competitive in the face of increasing international competition and changes in technology. Speaking at the Aerospace Growth Partnership technology showcase business minister Michael Fallon said: "Government and industry are working together to keep Britain at the forefront of the global aerospace market where we are second only to the United States. "We are jointly funding the Aerospace Technology Institute to the tune of £2bn so it can develop technology for the next generation of quieter, more energy efficient and environmentally friendly planes. "Getting this right will mean more of the research and development needed to win work on the planes and helicopters of the future will happen here in the UK." The seven projects will receive £29.8m from government with the remainder of the £58.2m investment contributed by industry.