The Russian government is planning to promote the country's aircraft industry to become one of the world's top aircraft producers, The Moscow Times reports.
According to the newspaper, Russia's Ministry of Industry and Trade plans to invest $20.5 billion of state funds into the civil aviation industry through 2025 and to encourage another $7.9 billion in private investment.
More than 3,000 airplanes and 5,500 helicopters should roll off production lines between 2013 and 2025, said the ministry plan, which was unveiled late last week.
"The goal is to increase Russia's global market share of civil aircraft production to 3.2 percent in 2025 from 0.6 percent in 2011, the newspaper reported. "In the civil helicopter industry, the program seeks to elevate Russia's share over the period to 12 percent from just over 6 percent; in aircraft engines — to 1.4 percent from 0.4 percent."
Russia will have to compete against established Western producers in order to meet those targets. The top three civil aircraft producers are currently France-based Airbus, U.S. Boeing and Canada's Bombardier but Russia intends to take one of the top three spots.
But while Russia expects to grab a larger share of the civilian aircraft market by 2025 it also expects it's a dip in its sales of fixed-wing military aircraft — to just under 11 percent from 17 percent in 2011.
It also expects its 23 percent market share for military helicopters in 2011 to fall 16.5 percent in 2025.
