WORLD EXPERIENCE AND MODERN FEATURES OF FINANCING INNOVATION IN THE AEROSPACE SECTOR

Abstract

The purpose of the article is to study and substantiate the mechanisms and instruments for financing innovation and high-tech production in the aerospace sector. The object of research is the system of financing innovation. The subject of the research is the peculiarities of the world and domestic system of financing innovations in the aerospace sector. The methodological base of the work includes the fundamental provisions of theories and concepts of innovation, conceptual approaches to the financing of innovations. Research methods: theoretical generalization, analysis and synthesis, induction, deduction, classification and comparison, theoretical methods, including systems analysis, economic, statistical and graphical research methods. The article considers the theoretical foundations of financing innovation, studies the world experience of development and financing of high-tech production. It is established that the aerospace sector of the economy is the most perspective area of innovative development and ensuring the global competitiveness of countries. And as one of the most high-tech areas, it requires significant funds for further development. The main sources of funding for the aerospace sector, as well as most other innovative areas, are government agencies and funds, banks, business angels, venture funds, incubators, accelerators, private investment companies. One of the most successful companies in the field of space technology is SpaceX. Being on the verge of bankruptcy, the company managed to attract funds from the state and successfully continue its own activities. Today, SpaceX uses a variety of funding sources, ranging from government contracts and grants to venture funding from the world's leading venture capital companies and famous business angels. The paper notes that the general state of the aerospace sector of Ukraine is characterized by insufficient state funding, lack of development of private companies. Based on the results of the study, the authors substantiated the ways of implementing world experience and priority areas of activity to ensure the stable development of innovative activities in the aerospace sector. The research results can be used for scientific substantiation and further creation of appropriate conditions for the development of innovative activities, in particular, ensuring an appropriate state system for financing innovation, the development of private companies in the aerospace sector, an increase in the interest of investment companies in Ukrainian aerospace activities, the formation of international relations in the aerospace sector.