A UK centre for aerodynamics to encourage innovation in aircraft design and commercialise new ideas will open next year.
UK Chancellor George Osborne made the announcement as part of his Budget statement, which states that £60 million will be invested to establish the centre. The centre will support innovation in aerospace technology, commercialise new ideas and spin-off technologies with wider applications in other sectors.
ADS - a trade organisation for the UK aerospace, defence, security and space sectors – welcomed the announcement. It said the initiative was the first output from the Aerospace Growth Partnership (AGP) work, which identified how much a centre could increase UK competitiveness. The AGP brings together industry and Government to take action to address barriers to growth, boost exports and high skilled job creation in the UK.
“This is an important achievement for the AGP, and demonstrates how industry and Government, working in partnership, can put in place the building blocks that will sustain the Aerospace industry in the coming years,” Graham Chisnall, deputy CEOF of ADS said.
“Future market predictions suggest that the Aerospace market could be worth £352 billion for the UK between now and 2029 if it maintains its 17 per cent market share.
“With the announced investment, Aerospace will contribute even more effectively to the Government’s Growth agenda, by increasing its current £23 billion contribution to the UK economy. We look forward to working with the Government to deliver this promise.”