AEROSPACE component suppliers are set for a windfall after helicopter manufacturer AgustaWestland announced it had signed a £1bn deal to supply 16 helicopters plus support and training to the Norwegian government.
The move safeguards the jobs of 3,000 AgustaWestland workers and is expected to support thousands more in the group's supply chain.
The deal has been welcomed by Prime Minister David Cameron, who said: "This deal between AgustaWestland and the Norwegian government is testament to the first class engineering skills we have right across the UK, while highlighting that this government's long-term economic plan is working.
"Safeguarding over 3,000 jobs across their Yeovil plant and many more across the SME supply chain, this is a hugely significant order which demonstrates why drumming up jobs and investment for our country from overseas investors is crucial to rebalancing the UK economy.
"We've got our sights focused on helping more innovative British firms across the country compete in the global race and ensuring that more people share in our economic success."
Business Secretary Vince Cable, who toured AgustaWestland's Yeovil facility, said the deal cemented Britain's reputation as a world leader in the aviation sector.
"Worldwide demand for our expertise is growing and the aerospace industry is proving key to rebalancing our economy towards manufacturing," he said.
"British aerospace is a major success story worth £24bn to our economy each year and employing 230,000 people across the country. The government's industrial strategy is overseeing a £2bn investment with industry in the creation of a new Aerospace Technology Institute - to help build the leaner, greener planes of tomorrow."
The AW101 helicopters will be assembled at AgustaWestland's Yeovil facility in the UK with the involvement of many of the company's other plants. The contract will help safeguard over 3,000 jobs at AgustaWestland and in the supply chain, which includes SMEs throughout the UK.
The contract for the All Weather Search and Rescue (SAR) helicopters was signed at the end of a meticulous selection process that took into account technical features, risks and costs evaluations. Aircraft deliveries to the Royal Norwegian Air Force, which will fly and operate the helicopters, will start in 2017 and continue through to 2020.