QinetiQ (pronounced 'kinetic') was created in July 2001 from the major portion of the former Defence Evaluation and Research Agency (DERA), itself derived from the earlier Royal Aircraft Establishment at Farnborough and elsewhere. One of Europe's largest science and technology organisations, its activities include indoor and outdoor ranges for air-, land- and sea-launched weapons trials; wind tunnels; underwater target ranges and marine testing facilities; automotive test tracks; and climatic testing laboratories. Currently structured as a public-private partnership (PPP), it is eventually to be found a strategic investment partner as a prelude to flotation as a fully commercial company. Carlyle Group named as preferred bidder in September 2002.
QinetiQ is sponsoring the huge QinetiQ 1 experimental balloon.