MOSCOW - Russian warplane maker MiG said on Monday it planned to sell 350 of its new generation fighters for about $10-12 billion by 2020 as it breaks into new markets, according to Russian news agencies. Aircraft make up almost half of Russia’s arms exports, with MiG and Sukhoi taking the lion’s share of those sales.The modernised MiG-29, based on a classic Soviet design, has new navigation systems and new generation weapon systems. ‘By 2020, we plan the delivery of 350 modernised MiG-29s for about $10 billion to $12 billion,’ Vladimir Vypryazhkin, deputy head of marketing at MiG, was quoted by RIA news agency as saying at the Le Bourges air show outside Paris. ‘We are also having talks on modernising MiG-29s with countries in
MiG, one of the jewels of RussiaÂ’s arms industry, is vying for a giant order from India, which wants to buy 126 combat aircraft to replace ageing MiGs and British Jaguar planes. Russia, which has close trade ties with New Delhi, is pushing its cutting-edge MiG-35. BoeingÂ’s F/A-18 Super Hornet and Lockheed MartinÂ’s F-16 are also competing for the contract.
Vypryazhkin said MiGÂ’s order book was currently just under $4 billion, Itar-Tass reported. Russian defence officials say they seek to boost arms sales to a record $7.5 billion in 2007 from $6.5 billion in 2006.