Asked by: Lord Jones (Labour - Life peer)
Question to the Department for Business and Trade:
To ask His Majesty's Government what was the estimated value of aerospace exports in (1) 2022, (2) 2023, and (3) 2024.
Answered by Baroness Jones of Whitchurch - Baroness in Waiting (HM Household) (Whip)
According to ONS business survey figures, the UK aerospace industry generated goods exports valued at £18.8 billion in 2022 and £20.0 billion in 2023 (in current prices). Figures for the year 2024 are not yet available.
Asked by: Lord Jones (Labour - Life peer)
Question to the Department for Business and Trade:
To ask His Majesty's Government how much funding through research and development grants there was for the aerospace industry in (1) 2023–24, and (2) 2024–25.
Answered by Baroness Jones of Whitchurch - Baroness in Waiting (HM Household) (Whip)
HMG allocated £225m in 2023-24 and £195m in 2024-25 to support the aerospace industry. This funding primarily supports the Aerospace Technology Institute (ATI) programme, which co-invests alongside industry in research and development to maintain and grow the UK’s competitive position in civil aerospace and decarbonise aviation.
The Autumn Budget 2024 announced an extension to the ATI programme providing £975m of funding up to 2030.