The investment comes as the UK Government drives forward plans for expansion at Heathrow, Gatwick and Luton airports. With the production of low-carbon fuels alone expected to add up to £5bn to the economy by 2050, the funding will drive millions of pounds of private investment into the aviation sector, says the Government.

Businesses, researchers and universities across the UK will be invited to bid for their share of the £43m, with competitions launching from February to allocate the funding. The funding will go towards research and development projects that help to deliver net zero aviation by 2050.