Brazilian aircraft manufacturer Embraer (ERJ) brought its all-new prototype jet-powered KC-390 military cargo hauler to the Paris Air Show to woo the world's military brass and convince them it's time to give up Lockheed Martin's C-130 Hercules.

The C-130 is the world's longest-running production aircraft and the preferred workhorse of the U.S. Air Force. There are just over 1,100 military and civilian C-130s flying today that will eventually need to be replaced. Embraer wants to fill those spots.

"We do respect the competition" from Lockheed (LMT), said Embraer's chief executive, Paulo Cesar de Souza e Silva. "It's now time to have something newer and we are there for that."

The development of the KC-390 is also part of Brazil's broader ambition to be a bigger industrial player on the world stage.

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