The Russian air force will direct $723 billion in funds toward new warplanes and helicopters over the next eight years, RT News reports.
According to the report, President Vladimir Putin told an audience at a Moscow-area air show the country plans to acquire 600 new warplanes and 1,000 helicopters through 2020 as well as update existing systems.
RT reports the upgrades will include new armament, electronic warfare defense and unmanned reconnaissance aircraft.
Putin made the announcement to coincide with the 100th anniversary of the founding of the country’s air force, the report said.
In November, a report from the Office of the National Counterintelligence Executive singled out Russia as an aggressive collector of U.S. research and development data.
Russia remains interested in business information on scarce natural resources, military technologies and civilian and dual-use technologies, that report said.