The SC21 programme, which launched in 2006 with 19 firms on board, works to improve the supply chain in the aerospace industry by reducing bureaucracy and streamlining processes to avoid duplication of business.
More than 350 companies now participate.
Backed by firms such as BAE Systems, Airbus UK and Rolls-Royce, the programme sees larger firms work with smaller companies, which make up around 85 per cent of the sector's supply chain, to increase their efficiency.
Russ Armitage, chairman of the SC21 initiative, said: "Small and medium firms often fulfil vital processes that aren't done by larger companies.
The UK aerospace industry
"This scheme focuses on accreditation, development and performance and improving relationships. It also increases the innovation of firms.”
Matthew Knowles of the Society of British Aerospace Companies (SBAC) also said that the initiative will allow UK aerospace firms to expand their operations and noted the benefits that reduced bureaucracy will have for smaller firms.
Figures from SBAC reveal that the UK aerospace sector had a turnover of £20 billion in 2006 and invests more than £2.5 billion a year into research and development.
