The minute-long clip video, shared on social media by Russia‘s Ministry of Defence, shows off Moscow’s fearsome defence capabilities.
Accompanied by dramatic music, the video features an array of Russian military aircraft including fighter jets and helicopters.
Air Force Day has been held annually in Russia since 1997 to celebrate Moscow’s air force.
Russian Air Force Commander Andrei Yudin hailed president Vladimir Putin for investing “major resources” into the military.
He told pro-Kremlin news agency Tass: “The state is doing very much for the aerospace forces, in particular for the Air Force.
“We are getting new aircraft, high-precision weapons that help us successfully perform all the missions set by the state, including in the fight against terrorism.”
He also applauded the “unbeatable style and skills” of Russian aerobatic display teams, Strizhi and the Russian Knights.
Mr Yudin’s comments came a day after Russian Defence Minister Sergey Shoigu boasted about the growing size of Moscow’s military.
But he dismissed fears Mr Putin could spark World War 3 by saying Russia was ready for “dialogue” with Nato.
He said: “We are open for dialogue. We are ready for a normal cooperation, but not at all from a position of strength.
“We are not going to threaten anyone. We’re not going to start a war with anyone. We’re doing a massive job to restore our army.
“Yes, the time has passed when we had no funds or time for the army. We now have a totally different army.”
Tensions between Russia and the West have soared since the poisoning of ex-double agent Sergei Skripal in Salisbury in March.
More than 100 Russian diplomats were expelled across the US and Europe after the international community blamed Moscow for the attack.
The move marked the biggest Western expulsion of Russian diplomats since the height of the Cold War.
Russia has repeatedly denied responsibility for the poisoning of Mr Skripal and his daughter Yulia.