According to RT
and Yahoo News
this will encompass the production of 600 new military planes and 1,000 helicopters in this $720 billion program.
The Russian military has been significantly weaker following the collapse of the Soviet Union, in 1991. Its disorganization and disarray led to its embarrassing withdrawal from Chechnya in 1995.
Vladimir Putin came to power in 2000 promising to strengthen the Russian armed forces.
At an air show marking the 100th anniversary of Russia's air force, Mr. Putin stated that they "are talking primarily about providing our forces with state-of-the-art modern technology."
Mr. Putin also stated that the Russian air forces current inventory would be "modernized."
In his address at the show he thanked military personnel for their services stating that they "helped our aviation endure the very difficult times of the 1990s and early 2000s."