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The government has shown its support for growing aerospace companies by launching a research and development (R&D) fund for the industry to the value of £24 million.

This will go towards the Open Collaborative R&D competition, with up to £12 million of this finance coming directly from the government and a further £12 million from the industry.

This programme is aimed at helping small and medium-sized enterprises (SMEs) to prosper, by encouraging businesses with high-risk, high-impact, revolutionary projects to submit a bid.

Business minister Andrew Stephenson said: “Innovation and R&D are crucial for the UK aerospace sector.”

He added: “Through our Industrial Strategy, we are ensuring the UK remains a world-leader by boosting R&D activity, developing new technology and increasing the UK’s share of the growing aerospace market.”

The competition will launch in October 2019, but SMEs that are interested in submitting their projects that “demonstrate future-thinking revolutionary and disruptive solutions to UK aerospace challenges” have been advised to get in touch with the Aerospace Technology Institute to discuss how to prepare their bids.

In addition to this, Mr Stephenson launched the new round of the National Aerospace Technology Exploitation Programme (NATEP 3). This is designed to support SMEs in the development of innovative technology for the industry; this may include virtual reality training for cabin crew and 3D aerospace structures to make aircraft lighter.

While this investment is encouraging for those aerospace businesses that are up-and-coming, firms that are already established are likely to be preparing for several potential Brexit outcomes when the country leaves the European Union on October 31st.

Earlier this year, the Guardian reported how airlines have been stockpiling parts in the event of a no-deal exit.

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If you require our electron beam services for innovative work within the aerospace industry, then news that the government is looking to fund work that will strengthen the UK's standing in the field.

According to Aerospace-Technology, the UK government is launching a new competition, through the channels of Innovate UK and UK Research and Innovation (UKRI), for companies to come to them with innovative ideas that will keep the country relevant and part of the conversation when it comes to aerospace advances.

The competition, which will take place between the 1st July and 24th July, is aimed at 'emerging markets', and Innovate UK and the UKRI are looking for expressions of interest to participate to claim some of the £150 million bounty. According to a spokesperson, “The competition is intended to seek expressions of interest in funding for industrial research or capital investment projects in the aerospace sector”, however it has also been expressed that the projects should have the potential to be applied to the civil aerospace sector.

They also outlined that UK businesses, research and technology groups, as well as academic organisations such as universities, could lead bids for the fund, depending on its application in the industry. The bids should also align with Aerospace Technology Strategy, and key areas highlighted include smart, connected aircrafts, future-proofing systems and any innovations which can help to strengthen whole aircraft design and production in the UK.

This investment is a part of a larger £3.9 billion fund from the UK Aerospace Research and Technology (UKART) programme.