Russia’s latest Checkmate fighter unveiled at the MAKS-2021 international air show is in demand on the world arms market, Head of the state tech corporation Rostec Sergey Chemezov said on Monday.

"There is no need to look for a geopolitical aspect in our new light tactical aircraft. The true reason is much simpler: the aircraft of this type are really in high demand on the world arms market," the Rostec chief executive said in an interview with The Wall Street Journal.

As Chemezov said, the Checkmate will become "a truly workhorse solution" for those countries that cannot purchase the US F-35 Lightning II fighter for $120 million. In Rostec’s estimate, the new Russian fighter will cost around $30 million.