Aerospace Industry
(asked on 4th November 2024) - View Source
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.
This question was answered on 18th November 2024
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.