Business secretary announces £273m aerospace investment plans

The government has announced plans to spend £273 million on aerospace technology including solar-powered aircraft and NHS treatment carrying drones.

At the Fanborough Internation Airshow, business secretary Kwasi Kwarteng revealed that up to £12 million will be made available to initiatives like flying cars and vaccine-carrying drones.

£155 million of the joint government-industry funding will support green aerospace innovation, such as hydrogen and battery technology, and more efficient manufacturing processes and technologies, like digital and additive manufacturing.

A further £105 million will be shared by projects focussed on developing air transport systems and enabling new vehicle technologies through the Future Flight Challenge.

The government said that these projects could create more than 8,800 jobs and include making motorways safer and improving journey times by using electric drones to survey hazards, to using electric drones to distribute medical treatments across Scotland, including to cancer patients.

“Through funding for the latest in green technology, such as solar and hydrogen powered aircraft, and setting out our vision for the fast-growing market for commercial drones, we are once again placing the aerospace sector directly at the centre of our plans to deliver jobs and grow the economy,” said Kwarteng.

A Drone Ambition Statement, which outlines how the government and industry can work together to take advantage of the potential £45 billion benefit to the economy by 2030, is also being published today.

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