Aerospace research gets £154m boost

The investment will be used in four areas: wings, engines, aircraft structures and radio communications. The funding is part of a £2billion government, industry and Aerospace Technology Institute investment aimed at developing the next generation of quieter, faster and more environmentally friendly planes. It will help to secure more than 100,000 skilled jobs in the aerospace indsutry and its supply chain in the long term, in a market expected to be worth over £4 trillion over the next 30 years, Clegg said: "The UK's aerospace industry is going from strength to strength and helping our economic recovery. We are the number one aerospace industry in Europe and second only to the United States globally. "I want to ensure the UK remains at the cutting edge of aerospace innovation, which is why I am pleased to announce that we are investing £154 million for research to explore new technologies like the 3D printing of plane parts and creating lighter, greener aircraft. "By working in partnership with business, we are building a stronger, more balanced economy, creating more jobs and sharing the wealth equally." Clegg also announced that SMEs could bid for a share of a £25million pot from October 2014. This is expected to stimulate projects worth £50m. The results of the first competitive call for funding have been announced, with 11 projects receiving a total investment of £30m.