Jonathan Reynolds, the UK Government’s new Business, Innovation, Science and Trade Secretary, has set out the government’s ambition to harness the potential of science and innovation to foster growth across the country.

Just three days into the establishment of the new government, the Secretary of State has visited the Farnborough International Airshow today (22 July) to discuss plans for bringing British business, innovation, and science together to “deliver for every postcode.”

It comes as the new government unveils a £600 million package of support for the UK aerospace industry, including over £500 million for cutting-edge research and tech projects to pioneer greener air travel, and a new £100 million fund to help ambitious suppliers scale up and meet demand in a fast-growing industry.

The support forms part of the PM’s pledge to “reindustrialise” Britain, develop cutting-edge aerospace technologies, support innovation, attract investment, and secure high-skilled jobs.

“This government is laser-focused on bringing good growth to every corner of the country, and we’re wasting no time getting on with the job,” said Reynolds.

“Aerospace is one of Britain’s great industrial success stories. Partnerships like this show the power of bringing business and innovation together to harness our strong manufacturing base and cutting-edge research to support skilled jobs right across the UK.”

Recommended

• DIGIT Deal Roundup | June 2026
• Brit Biz Bank Newly Supported 1,500 Small Scots Firms in ‘25/26
• Mid-market Scots Firms Are Fuelling Jobs and Growth in 2026

Alongside today’s investment news, the government and the British Business Bank have announced plans for a £100 million “Aerospace Supply Chain Fund,” working with industry partners including Airbus, Rolls-Royce, GKN Aerospace, Safran, and the trade body ADS.

The proposed fund aims to help UK aerospace suppliers access the growth capital they need to expand, invest in productivity and workforce capability, and compete for opportunities in a growing global market.

Further, the aerospace research and technology projects announced today look to pioneer a wide range of technologies, from advanced aircraft wings and future engine systems to hydrogen-powered flight, digital engineering and advanced manufacturing.

Examples include Airbus-led projects developing next-gen wing technologies and manufacturing processes, and companies including ZeroAvia and Safran advancing hydrogen and electric propulsion and more efficient aircraft systems.

Gary Elliott, CEO, Aerospace Technology Institute, said: The UK aerospace sector’s world-class innovation and manufacturing capability is being showcased at Farnborough this week.

“Today’s announcement reflects our commitment to keeping the UK at the forefront of aerospace technology, driving jobs, growth and competitiveness as we work to double the sector’s market value by 2035.”