BAE Systems has signed a technology sharing partnership with engineering and Formula One group Williams.

The agreement between BAE, Williams Grand Prix Engineering and Williams Advanced Engineering will see technology, expertise and skills shares across a range of areas including cockpit designs, augmented reality and advanced materials.

Innovators at BAE Systems play a key role in the development, manufacture and support of fast jets such as the Eurofighter Typhoon, F-35 and Future Combat Air Systems and will now work in close collaboration with their peers at Williams.

Drawing on each organisation's skills, experience and knowledge, it is hoped that the new partnership will create game-changing innovations, ultimately influencing the design, performance and production of both fast jets and fast cars.

The businesses initially plan to collaborate on intuitive cockpit designs for both fighter pilots and racing drivers, taking advantage of each organisation's work in virtual and augmented reality, aerodynamics, lightweight materials and battery technology.

"We look forward to growing this relationship still further and sharing expertise across the talented people at these iconic British companies, in engineering and beyond, to deliver significant benefits to our customers and partners," said Williams Group CEO Mike O'Driscoll.

The partnership agreement follows on from previous valuable collaborations between the companies, which have included engineers from Williams Advanced Engineering using their expertise to help design and deliver a revolutionary cockpit simulator that gives BAE Systems a fully flexible and interactive cockpit to experiment with designs for work on its future combat aircraft initiative.

Ian Muldowney, engineering director at BAE Systems Air, added: "The government's Combat Air Strategy, published this summer, highlights the criticality of cutting-edge UK technology and Intellectual Property, including how this is generated, sustained and exploited.

"As we begin to explore what will be required from a UK future combat air system, we must work harder than ever to answer these questions. Working with technology leaders outside of our own industry will help us find new ways of asking questions and think in a different way about the solutions."

The agreement will be overseen by a steering committee comprised of senior representatives from each organisation, chaired by Muldowney.