The Aerospace Technology Institute: An independent company established as a collaboration between Government and Industry to lead and challenge the UK’s Aerospace technology strategy and through £2 billion of secured R&T investment maintain and grow the UK’s competitive position.
The value of this industry cannot be overstated. The UK is Europe’s number one aerospace manufacturer, second only globally to the United States. The significant effect that this has on the national economy through profits and job creation, both directly and indirectly, underpins the importance of this industry. And it is an industry which is only set to grow; between now and 2030 there will be an estimated global demand for approximately 27,000 new passenger aircraft potentially worth up to $3.7 trillion. This figure alone signifies how vital the aerospace sector is to the UK.
For many years the UK has been a frontrunner in aircraft manufacturing and technological advances, a legacy that dates back prior to the outbreak of the World Wars. The UK’s success on current generations of aircraft relies heavily on the investment and work conducted developing advanced technologies in the 1970’s and 1980’s. This goes some way to giving an indication of how smart and efficient investment can reap long term benefits. The Aerospace Technology Institute is therefore endeavouring to maintain the UK’s world leading aircraft design and manufacturing capability.
Airbus won US$75.3 billion (55.6 billion euros) worth of business for a total of 496 aircraft, making it the largest Farnborough show for Airbus – both in terms of dollar value and in the number of aircraft. The deals comprise Memoranda of Understanding for 138 aircraft and pur...View full article