I made an alternate timeline once (for a nation sim) where the Commonwealth still dominated most technology. They were ahead of the rest of the world greatly in jet engines, nuclear technology (in the timeline WW II never happened and the UK and Canada had a joint nuclear program), and computing. Turing lived and Conrad Zuse lived in the UK, and they were funded by the government to make early computing move more smoothly (Turing also did not die). In the timeline communism and fascism both took hold in Europe (Western Europe mostly facist, Trotskyist USSR spreading as far as Eastern Germany) and the Commonwealth was left as an island of stability and relative tolerance, so it was in the position of the USA once it entered WW II, with a large defense budget due to the three way Cold War.
Assuming a world where the UK is left financially better off and without the US as its tried and true ally, the UK could certainly dominate technology in the 1950s. One of the things that I found amusing while building my timeline was how much the Commonwealth gave the US in technology and how quickly Canada and the UK lost their military industrial complex. While I knew that many Canadians left to work in the US after the Avro Arrow was canceled, it surprised me that the Gemini capsule was designed by a Canadian, and that the UK had many advanced programs it scrapped in the name of economy to go with US designs that never entered service. In fact, you might not even need an alternate World War II period, you could just have a UK less obsessed with cost cutting and that works with the Canadians to make the Commonwealth a dominant aerospace power. Even without large government support Canada is one of the largest civil aircraft producers and BAE and other UK companies are major aerospace defense contractors. With it during the formative years of commercial aviation the Commonwealth's aerospace industry might be on par with the US even today.