The UK government and key aerospace companies have formed a joint venture to invest more than £2 billion (approximately $3 billion) over the next seven years in a move designed to keep the country’s aerospace sector globally competitive, and to increase its market share. Under the Aerospace Growth Partnership (AGP), the government’s £1 billion investment will be matched by industry and will see the creation of a new Aerospace Technology Institute.
Aerospace firms participating in AGP include AgustaWestland, Airbus, BAE Systems, Bombardier, GKN Aerospace, Goodrich Actuation Systems, Messier-Bugatti-Dowty, Rolls-Royce and Spirit Aerosystems. Michael Fallon, Minister of State at the UK Department for Business, Innovation and Skills (BIS), and Marcus Bryson, CEO of GKN Aerospace & Land Systems and vice president of ADS, the trade organization of the UK’s Aerospace, Defence, Security and Space industries, jointly chair the partnership.
