UK business investment in aerospace R&D could fall even further than the 20 per cent nosedive it took in 2017, an industry group has warned.
The aerospace industry spent £1.5 billion on R&D in the UK last year—£383 million less than in 2016, according to figures from the Office for National Statistics (ONS). Aerospace accounted for 6 per cent of expenditure on R&D by UK businesses in 2017, down from 8 per cent in 2016.
A spokesperson for ADS Group, the trade association representing aerospace companies in the UK, said that the impact of Brexit has continued to hit investment this year: “Uncertainty over a Brexit deal during 2018 has clouded business confidence, contributing to investment decisions being put on hold and contingency measures being implemented.”
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