Rolls-Royce predicts the worldwide nuclear market could be worth £50bn a year by 2023.

Aero-engine company Rolls-Royce has announced it is to expand its nuclear business to take advantage of the growing global market for civil nuclear power.

The company will develop a new unit to provide a range of services, including advising governments and operators, providing technical engineering support and safety assessments, manufacturing, procurement and through life support.

According to Rolls-Royce, it currently has the largest nuclear skills base of any UK organisation, with around 2,000 specialist nuclear-focused employees in the UK, France and the US. Its supply chain of around 260 suppliers is also the biggest in the country.

Rolls-Royce’s involvement in nuclear power dates back to its development and support of the nuclear steam raising plant for the Royal Navy’s nuclear submarine programme.

In addition, it established Data Systems & Solutions (DS&S) in 1999, which provides safety critical instrumentation and control for civil nuclear reactors in Europe, including France’s 58 reactors, the US and other markets such as China.

Sir John Rose, Chief Executive, commented on the new initiative: “Rolls-Royce has been involved in the UK’s nuclear industry for over 50 years. Our experience is directly applicable to all phases of new build programmes that are planned in the UK and globally, and also to the upgrade of existing plants.

“Our capability is unique in the UK and matched by only a handful of companies worldwide. The expansion of the civil nuclear market represents an exciting opportunity which builds on our extensive nuclear capabilities.”

Rolls-Royce estimates that the worldwide nuclear market could be worth £50 billion a year by 2023, up from £30bn. It expects £13bn in support of existing nuclear plants, £20bn for new builds and £17bn for new reactors.

By Natasha Piscitelli