The new UK Labour government must support the long-term future of aerospace innovation, according to the Farnborough Aerospace Consortium (FAC). FAC represents hundreds of businesses in aerospace and related sectors, and it wants assurances for its members.
FAC will be exhibiting at the up-coming Farnborough International Airshow at which billions of pounds worth of deals will be done. As CEO I urge the government to continue to support and fund those things that are already underway and working.
FAC welcomes the new government’s recognition of the need for an industrial strategy. Aerospace and defence are long-term, highly successful sectors that generate hundreds of thousands of highly paid, skilled jobs.
The sector stands ready to contribute further to the economic growth ambitions of the government. This will need a strong industrial strategy for aerospace and defence to secure these benefits for the UK.
And it is not just about businesses that work in aerospace and defence, but the thousands of companies – often SMEs – that make up the supply chains.
The Aerospace Technology Institute (ATI), which creates the technology strategy for the UK aerospace sector and funds world-class research and development, must continue its important role.
Furthermore, we hope that Advanced Aviation Mobility and the Future Flight Challenge will remain priorities, as a lot of money and time has been invested in them. They are already helping us deliver sustainable and clean aviation fuel and a future for hydrogen power.
It is also vital for the future of aerospace innovation that financial incentives remain, or otherwise things will stagnate. These include things like R&D tax credits and capital support.
In the defence sector it is important that the new government understands the importance that business plays in supporting our world-class army, navy and air force. So, a certainty about defence budgets is desirable.
Looking even further ahead, it is crucial for the sector that we develop the necessary skills through an emphasis on STEM education.
Strategies in these areas must be long-term ones and only by looking decades ahead and developing policies on that timescale will allow us to maintain our position as world leaders.
“We look forward to meeting any new ministers at the Farnborough International Airshow, and they can find us in Hall 1, stand 1317.
About the Farnborough Aerospace Consortium:
Farnborough Aerospace Consortium (FAC) is one of the longest established aerospace and defence trade associations in the UK.
It has circa 200 members nationally and internationally to serve its membership in the south and south east of England, the heart of UK aerospace.
Through its unrivalled experience and expertise, the FAC acts as an enabler for business between large primes and the supply chain – especially SMEs.
