The Aerospace Technology Institute (ATI), Department for Business, Energy and Industrial Strategy and Innovate UK are inviting businesses and organisations to come forward with innovative aerospace projects.
There will be around £150 million available to researchers each year, who will need to submit expressions of interest before the best ideas are invited to apply for funding.
The chosen projects are expected to focus on the development of smart, connected and electric aircraft, as well as projects developing new types of engines and wings.
The competition opens for expressions of interest on the 2nd of July 2018 and the deadline for submissions is the 18th of July 2018.
Organisations will be able to secure up to 70% of their total costs and can work alone or in partnership with other groups.
The Committee on Climate Change (CCC) has warned the Department of Transport that carbon emissions must not rise following Heathrow expansion plans.