£365m funding announced for new UK aerospace research and development projects and major partnership with Boeing to create 2,000 jobs in the UK.
The Prime Minister has announced a new strategic partnership between Boeing and the UK, as well as nearly £400m for new aerospace R&D projects, ensuring we remain a global aerospace industry leader.
Ahead of the Prime Minister opening this year’s Farnborough air show, Boeing has confirmed that the company will create 2,000 new jobs in the UK and increase their R&D spending.
Boeing and the government intend to work together to build a new £100m P-8A operational support and training base at RAF Lossiemouth in Scotland, creating more than 100 new jobs.
To ensure the UK’s continued position at the forefront of global aerospace, a further £365m worth of aerospace R&D projects have been approved. These are jointly funded by industry and government. These are part of the work of the Aerospace Growth Partnership which will publish a new strategy at Farnborough setting out plans to maintain the UK aerospace sector’s leading position. This includes a new supply chain competitiveness charter signed by 11 major companies across the aerospace sector.
Following last week’s NATO summit, the Prime Minister will also confirm the UK has signed a contract to purchase 9 new Boeing P8 Maritime Patrol Aircraft to protect the UK’s new aircraft carriers. This underlines the UK’s determination to deliver on its Strategic Defence and Security Review commitments and providing a clear sign of the UK delivering on its pledge to maintain defence spending at 2% of GDP.
The Prime Minister said:
Whatever uncertainties our country faces, I want the message to go out loud and clear: the UK will continue to lead the world in both civil and defence aerospace. We aren’t just open for investment: we are a place the global aerospace industry wants to do business – as Boeing’s long-term partnership with the UK proves.
It’s also important to put government investment where it counts. That’s why we are jointly funding the new R&D fund with the aerospace industry and why I’m pleased we have today signed the contract for 9 new P8 Maritime Patrol Aircraft for the Royal Air Force, underlining the UK’s commitment to spending on vital defence.
Boeing has signed the Aerospace Growth Partnership Supply Chain Competitiveness charter.
Boeing will make the UK its European base for training, maintenance, repair and overhaul across its defence fixed-wing and rotary platforms.
Additionally, Boeing and the government intend to work together to build a new £100m P-8A operational support and training base at RAF Lossiemouth in Scotland, creating more than 100 new jobs.
Boeing will continue to grow its commercial aviation services business in the UK.
Boeing will make the UK a base for defence exports to Europe and the Middle East, increasing UK employment, investment and tax revenue.
Aerospace Growth Partnership
The Aerospace Growth Partnership, started in 2010, will publish a refreshed industrial strategy ‘Means of Ascent’ at Farnborough - demonstrating government and industry’s continued commitment to investment in UK aerospace.
A further £365m of new aerospace R&D projects have been approved to commence, jointly funded by HM Government and industry. This is part of a total £4billion joint R&D commitment over 13 years to 2026.
New supply chain competitiveness charter signed by 11 global aerospace players with a presence in the UK.