The aerospace industry is a high-tech industry which produces aircraft, guided missiles, space vehicles, aircraft engines, and related parts. The Czech Republic has a long history of aerospace development that dates back to the early 20th century. Today, the country accounts for its local high quality and innovative aerospace sector through its R&D programs and investments over the years.
Besides being home to the advanced and innovative aerospace industry, Czechia has an emerging economy that attracts a number of foreign investors to the industry. Many foreign aerospace companies such as Honeywell, GE Aviation and Safran have expanded their businesses to the Czech Republic over the last few years. Today, the Czech aerospace industry consists of cooperation of both public and private research facilities such as universities to create projects that would advance the sector further.
The main reasons why the Czech Republic is a lucrative investment centre for foreign aerospace business owners are skilled workforce, R&D programs, developed supplier base, investment incentives imposed by the government, safe investment environment, and over 120 companies and 20,000 professionals in the field.
Developing its Space Industry is an important strategy for the Czech Republic to maintain a competitive and sustainable presence in Europe. The National Space Plan 2020–2025 is the major attempt from the government to ensure competency and scientific excellence in the space industry and increase the profits from public investments. Czechia has invested around 60 million euros in the industry to enhance its involvement in the European Space Agency (ESA) program so far. The Czech Republic has been an active member of the ESA since 2008.
The Czech Republic will continue to make impactful progress in the Aerospace industry and become one of the world’s biggest exporters.