In addition to the overall investment, £49 million has been specifically allocated for aerospace projects in Wales, reinforcing the South West's critical role in the design and assembly of large civil aircraft wings.

This initiative is expected to accelerate innovation, create numerous job opportunities, and support a significant industry that benefits British communities.

Airbus UK Chairman John Harrison expressed that the £975 million funding commitment ensures sustainable aviation investment and acknowledges the aerospace sector's importance in research and development.

The funding will extend the Aerospace Technology Institute (ATI) Programme, which aims to enhance aerospace centers in key locations such as Broughton, Filton, and Derby.

Funding applications for this initiative will open in January 2025, with project implementations anticipated to commence by Autumn 2025.

The Prime Minister concluded that this investment is designed to foster growth and create job opportunities, particularly in Wales.

Labour leader Keir Starmer underscored the UK's leading position in the aerospace sector, stressing the importance of investing in future technologies for sustained economic growth.

The UK Prime Minister has unveiled a significant investment of £975 million over the next five years aimed at bolstering the aerospace sector, with a strong focus on innovation and job creation.

This investment is integral to the Government's Industrial Strategy, highlighting the aerospace sector's vital role in achieving Net Zero targets and supporting national defense operations.

During a recent visit to Wales, the Prime Minister emphasized the region's prominence as one of the largest aerospace clusters globally, which employs over 20,000 people.

Business and Trade Secretary Jonathan Reynolds pointed out that the aerospace sector contributed nearly £40 billion to the UK economy last year, sustaining high-skilled jobs across the nation.

First Minister Eluned Morgan highlighted the aerospace sector's significance in Wales, emphasizing the high-quality skilled jobs it provides.