February 6, 2014
Aerospace Technology to be invested in heavily
The aerospace sector generates £24bn a year for the UK economy and is the second largest in the world.
In the next fifteen years it is estimated that around 27,000 new planes will be ordered. Last month Chancellor George Osborne announced a £60m investment in the development of high-tech aerospace technology during a visit to the Manufacturing Technology Centre. 30m of the aerospace technology development fund will come from the government with industry committing to provide the rest.
This is all great news for Ultra Precision Products Ltd as manufacture of aerospace components is a significant part of our business.
Other sectors targeted to benefit from this centre’s work are the automotive and medical devices sectors, again good news for Ultra as a large proportion of our customer base is within these sectors.