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BloombergAug. 21 (Bloomberg) -- President Vladimir Putin said Russia will challenge Europe and the U.S. in aerospace as the country rebuilds an industry that once rolled out a quarter of the world's commercial aircraft fleet.
Russia ``has new economic possibilities'' to gain a greater share of the global market for civilian passenger and transport planes and ``keep its leadership in producing combat aircraft,'' Putin said today at the opening of the Moscow Air Show.
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More than 780 domestic and foreign producers from 110 countries are participating in the biennial event, Putin said at the once-secret Zhukov airfield near the Russian capital.
Putin pushed Russia's aerospace manufacturers and designers to merge into state-controlled OAO Unified Aircraft Corp. to create a business with the scale to compete abroad. Russian companies aim to build and sell 4,500 civilian and military planes valued at $250 billion over the next 18 years, Unified Aircraft Chief Executive Officer Alexey Fyodorov said Aug. 15.
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