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The Russian Government is reportedly planning to spend RUR770bn ($14.4bn) to increase local production of aircraft amid Western sanctions following its invasion of Ukraine.
By the end of the decade, the country aims to manufacture nearly 1,000 new, locally built aircraft for Russian airline companies, reported Reuters.
It intends to manufacture MS-21 medium-haul aircraft on a large scale, using some foreign components, as well as a few Soviet-designed Tu-214 aircraft.
In March, companies that included Embraer, Boeing and Airbus stopped supplying aircraft parts to Russia. Some countries, including China, also stopped parts supply. Additionally, leasing companies decided to confiscate Russian aircraft.
The plan to produce aircraft domestically is aimed at overcoming these hurdles.
Notably, Russia also passed a law allowing leased foreign aircraft to be registered domestically in March.
Deputy Prime Minister Yury Borisov was quoted by Reuters as saying: “The share of domestically produced aircraft in the fleet of Russian airlines should grow to 81% by 2030.”