26-Nov-2012 5:10 PM

Russia promises USD54.5bn for 13-year aviation programme

Russia's Federal Government announced a total budget of RUB1.7 trillion (USD54.5 billion) for the development of the domestic aerospace industry between 2013 and 2025, according to ato.ru. RUB1.2 trillion (USD38.7 billion) will be allocated from federal funding. State funding will concentrate on research and development and supporting sales for domestic aircraft manufacturers. Major projects include the MC-21 narrowbody, PD-14 engine and a next generation widebody to be developed by United Aircraft Corporation. The Russian Government is targeting 3.6% of global commercial aircraft sales by 2025. Annual commercial aerospace revenue is expected to increase to more than triple under the programme.

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