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. Last Updated: 07/27/2016

Russia Seeks 15% of Helicopter Sales

Russia intends to meet 15 percent of the world's demand for helicopters by 2025 as President Vladimir Putin attempts to return the country's aerospace industry to its Soviet-era heyday.

Russian Helicopters, owned by state arms dealer Rosoboronexport, will increase its share of the global market from the current 5 percent, the company said in a statement Friday.

Russian Helicopters will produce 300 aircraft per year beginning in 2015 and make 500 per year by 2025, reaching the volume it had in 1990, the company said. It will make 150 helicopters this year, or 36 more than one year earlier.

The company unites the country's primary helicopter designers and manufacturers. United Aircraft Corporation plans to make 4,500 military and civilian planes worth $250 billion by 2025 and sell half of them abroad.

The companies that comprise Russian Helicopters reported sales exceeding 28 billion rubles ($1.1 billion) last year. More than 5,200 Russian helicopters are in operation in more than 80 countries.

Russian Helicopters may sell shares in 2009, Rosoboronexport chief Sergei Chemezov said last week.