They expect the technology to be first used in regional aircraft seating about 100 to 150 people, servicing the shortest of short-haul routes such as London and Paris. Ultimately it could be extended to long-haul routes.

Moving to electric aircraft would help the aviation industry meet EU targets which by 2050 want to see a 60pc reduction in emissions of CO2, 90pc less NOx and noise 75pc lower.

Although the gas turbine would drive the propellors through a generator system, batteries would provide extra power only when it is needed, such as during take-off, making aircraft more efficient overall.

Mr Stein said the technology could revolutionise the way air travel is perceived.

"Quieter aircraft could move runways much closer to city centres," he said. "Flying on electric aircraft could be the norm for travel between cities, even replacing rail - you do not need to lay out railway tracks fanning out from train stations for these aircraft."

He said he expected such changes to take place in emerging markets rather than developed ones.

Each of the companies involved is spending tens of millions on the research, and the partnership is in talks with the UK Government about help funding the project.

Mr Cousin said that if the talks, which are being held through the Aerospace Technology Institute, were successful it could see much of the research being carried out in the UK.