The Ministry of Industry and Trade suggests allocating 416 billion rubles from the federal budget plus a part of financing from the Federal Target Program (FTP) “Development of civil aviation” (86.385 billion rubles are allocated for the FTP until 2015) for development of the aircraft industry, Gazeta.ru reports.

As reported by the periodical, it is almost one third of the budgeting of the new program for development of the aircraft industry for the period until 2025. It is almost four times as much as state financing of the aircraft industry during the period from 2002 to 2011 (119 billion rubles).

The funds will be used for closing the surplus and inefficient assets of United Aircraft Corporation (UAC), restructuring of the corporation’s debt, payment of coupon yield on bonds, attracted with state guarantee in 2010, subsidies for reimbursement of part of expenses on payment of interests on loans, including those obtained from Vesheconombank in 2008–2011 and intended for technical re-equipping. In addition, the state will provide the manufacturers with subsidies in order to compensate a part of costs connected with production of Аn-148, SSJ-100 and Тu-204/214 aircraft. It will also place orders for research and development works aimed at development of SSJ and МС-21, development of composite wing, special-purpose, transport, military and unmanned aircraft.
As a result Russia should have a 3.1% share at the global market of civil aircraft in monetary terms by 2025. According to forecasts used as the program’s basis, the global aviation market will increase 2.3 times by 2025 – to $366 billion, and about 80% of this sum will be accounted for civil aircraft ($292,8 billion). In other words the total value of the Russian civil aircraft sold in 2025 should reach $9 billion – 45 times higher than the sales in 2011. As for the military segment, the estimated share at the global market is – 8,2% or approximately $6 billion (the increase of sales less than twofold as compared to 2011).

According to the plans of Ministry of Industry and Trade, the number of workers in the aviation sector should be reduced three times by 2025 (to 123 thousand people), while the labor efficiency should be increased eightfold – to 13,1 million rubles. The labor efficiency should be increased to 15,8 million rubles per person in the aircraft industry.