Mitsubishi Heavy Industries Ltd. announced Friday it will enter the global market for regional jetliners, in the process becoming the first Japanese company to launch its own passenger jets.

According to MHI, the Mitsubishi Regional Jet will have a technological edge over its rivals because it will boast the world's highest level of fuel efficiency, as well as the highest standards of cabin comfort.

Mitsubishi Heavy will launch two types — the 70- to 80-seat MRJ70 and the 86- to 96-seat MRJ90 — which will have a range of around 1,630 km to 3,630 km.