Russian state tech giant to build 1,000 local planes by 2030

  • Russia plans to build 1,000 local airliners by 2030 to reduce its dependence on Airbus and Boeing.
  • Russia relies heavily on technology imports, which have been hit by war-related sanctions in Ukraine.
  • Former Russian finance chief Oleg Vyugin recently said the country is facing a technological decline.

Russia is aiming to produce 1,000 jetliners by 2030, using locally made parts, state-owned technology company Rostec told Reuters on Wednesday.

The aviation industry’s self-reliance strategy is a departure from the situation before the start of the war in Ukraine, when planes bought from Western giants Boeing and Airbus carried 95% of Russian passenger traffic, according to Reuters.

However, given the sanctions against the country, imports into Russia – especially those of aircraft – have plummeted, creating a huge problem for the country, which depends on technology imports.

Rostec – a conglomerate involved in engineering and defense – said it aimed to replace imported parts with local ones. “From this year, we no longer rely on international cooperation with Western countries,” Rostec told Reuters.

“Foreign planes will be taken out of the fleet,” Rostec told Reuters. “We believe that this process is irreversible and that Boeing and Airbus planes will never be delivered to Russia.”

Rostec’s optimism contrasts sharply with recent comments by Oleg Vyugin, a former senior finance ministry and central bank official, who told Reuters in an interview last week that Russia could suffer years of decline. technological development due to sanctions. .

“The world will move forward, but Russia will only use second-tier technology and spend huge resources to recreate what is already in the world, but cannot be imported,” he said. said Vyugin, who was Deputy Finance Minister and Deputy Finance Minister. governor of the Bank of Russia. He retired from the Moscow Stock Exchange this year.

Russia has tried to counter the sanctions by replacing Western imports with those from non-sanctioned countries or by looking for local options. But success has been limited, analysts at Bruegel, a Brussels-based think tank, wrote in late March.

“High-tech products are developed using inputs from many countries, but few can function without inputs from the European Union or the United States,” the analysts wrote. “As a result, a single economy cannot replicate the capabilities of the global network.”

Russian state carrier Aeroflot has already started removing spare parts from working planes due to sanctions-induced supply shortages, Reuters reported in August.

Rostec did not immediately respond to Insider’s request for comment, which was sent outside of normal business hours.

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