Board of Directors of United Aircraft Corporation (UAC) approved the fundamental principles, concept and development time of the new UAC’s development strategy for the period until 2025, UAC’s press-service reports.

"The UAC’s mission (which serves as the basis of its strategy) is to achieve and maintain long-term competitiveness at the global market in terms of development, production and aftersales support of civil and military aircraft. The UAC’s aim for the period until 2025 is to reach the annual revenues of about $25 billion and net profit margin of at least 10%. At that the labor productivity should increase 7,3 times", - UAC explained. 

The Corporation’s strategy approved in early 2011 needs updating, in particular, because of changes made in governmental documents (State Program for Development of Aircraft Industry for 2013-2025; Federal Target Program for Development of Military Industrial Sector for 2011-2020; State Arms Program for the period until 2020; «State Policy of Russian Federation in the area of Aircraft Industry for the period until 2020», Transport Strategy of Russian Federation for the period until 2030).

 «The fundamental principles of the UACs development strategy approved by the Corporation’s Board of Directors are the logical development of the document approved in 2011. Our primary objective is to establish our company as a leader at the global market. More detailed description of mechanisms and plans for achieving the goals will be specified in the updated strategy of UAC, which is aimed at provision of the company’s sustainable development in civil, military and transport aircraft segments», - president of UAC, Mikhail Pogosyan, noted.