Cleaner, more efficient jet engines for single-aisle passenger aircraft are the focus of a $3.3 billion (£2.5 billion) program agreed between the UK government and Rolls-Royce, with joint funding spread over 10 years.
Announced on October 28 alongside the Budget, the agreement aims to develop jet engine technologies and sustain British aerospace manufacturing over the coming decades.
The investment is expected to support 3,300 existing jobs over the next few years, with the potential to create tens of thousands of additional roles in the longer term.
Rolls-Royce estimates that securing a UK engine for the single-aisle aircraft market could attract billions of pounds in further investment and add $161 billion (£120 billion) to the economy over the program’s lifetime.
The program will focus on jet engines for single-aisle aircraft, the passenger planes commonly used on routes between Britain and European destinations.
The government’s Industrial Strategy identifies this market as the UK aerospace sector’s biggest opportunity over the next 50 years.
The agreement seeks to position British industry to compete for that demand while maintaining the capabilities needed to develop and manufacture commercial aircraft engines.
“This is a landmark moment for the UK’s aerospace industry. This is a once-in-a-generation opportunity to lay the foundations for decades of sustainable economic growth across the UK, creating high-value jobs and transforming the country’s advanced manufacturing supply chain,” said Rolls-Royce chief executive Tufan Erginbilgic.
The cooperation extends beyond the initial funding period, with the government describing it as a multi-decade agreement intended to encourage sustained industrial investment.
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