To ask Her Majesty's Government what assessment they have made of the future of the aerospace sector in the UK.
Answered on
29 September 2020
The aerospace sector is being supported with over £8.5 billion support through the Bank of England’s Covid Corporate Financing Facility, grants for research and development, loan guarantees, and support for aerospace exports.
The Government works with industry through the Aerospace Growth Partnership to deliver the UK’s strategy for aerospace. This includes a commitment of £1.95 billion of funding for research and development, matched by industry, over 13 years up to 2026. Funding of £125 million through the Future Flight Challenge will also support research on electric and autonomous flight technology, positioning the UK aerospace sector to transition to cleaner forms of aviation.