By Stephanie Foden, Contributing Reporter

RIO DE JANEIRO, BRAZIL – A new military cargo plane is going to make Brazil a contender on the world stage of military planemakers. Brazil’s Embraer S.A., an aircraft manufacturing company, is promising a jet that flies higher, fuller and faster, all while at a lower price than United States-based Lockheed Martin Corp's esteemed Hercules airlifter.

"I don't think the Hercules has ever faced such serious competition - and it's the oldest aircraft in production," Richard Aboulafia, an aviation consultant with the Teal Group told Reuters.

The Brazilian government is investing . . .

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