At a ceremony presided by President Tsai Ing-wen in Taichung, the Aerospace Industrial Development Corporation presented the "Yung Ing" or "Brave Eagle", which is set to replace its current AIDC AT-3 fighter fleet, Efe news reported.
"Today marks a big day for the Republic of China Air Force and a milestone for the country's aerospace industry," the President said.
The corporation has plans to build 66 of the new aircraft for Taiwan's Air Force, formally named XAT-5 Blue Magpie. The model's Brave Eagle, name was chosen following a campaign organised by the Defence Ministry.
The corporation is also the developer and manufacturer of the Indigenous Defence Fighter (IDF) which rolled into service about 30 years ago and still serves in the air force.
The Brave Eagle's maiden flight is scheduled for June 2020. The entire fleet is set to be completed by 2026.
A spokesman for the corporation said the company spent more than three years in the development process before reaching the mass-production stage.
The Brave Eagle is a twin-seater supersonic fighter similar to the IDF. It sports a smooth blue colour with white and red ribbon-like lines along the fuselage.
The aircraft is mainly made of composite materials and runs on two F124-200TW engines.
( With inputs from IANS )