6-K

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

under the Securities Exchange Act of 1934

For the month of October, 2007

Commission File Number: 333-132289

Embraer - Brazilian Aviation Company

(Translation of registrant's name into English)

EMBRAER - EMPRESA BRASILEIRA DE AERONÁUTICA S.A.

Av. Brigadeiro Faria Lima, 2170

12227-901 São José dos Campos, São Paulo, Brazil

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F X Form 40-F ______

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): _____

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): _____

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to

Rule 12g3-2(b) under the Securities Exchange Act of 1934: Yes No X   

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): _____

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	EMBRAER - EMPRESA BRASILEIRA DE AERONÁUTICA S.A.
Date: October 15, 2007	By:	/s/ Antonio Luiz Pizarro Manso
		Name: Antonio Luiz Pizarro Manso
		Title:Executive Vice-President Corporate           and Chief Financial Officer

EXHIBIT INDEX

1.   copy of Company’s market announcement dated October 10, 2007, announcing significant share ownership.

EX-1

                       

EMBRAER- EMPRESA BRASILEIRA DE AERONÁUTICA S/A

MARKET ANNOUNCEMENT

Embraer - Empresa Brasileira de Aeronáutica S/A announces significant share ownership.

Pursuant to Article 12, "caput", of the CVM instruction nº 358, of January 3, 2002, Janus Capital Management LLC, an investment adviser registered under the U.S. Investment Advisers Act of 1940, based at 151, Detroit Street, Denver, Colorado 80206, USA ("Janus"), hereby inform that, on behalf of various Janus clients, holds since September 25, 2007 a significant beneficial position on Embraer - Empresa Brasileira de Aeronáutica S/A, (“Company”), totaling 9,627,908 ADR, equivalent to 38.511.632 common shares, representing 5,20% of the Company’s total capital. No other entity of Janus Group holds any position on the Company’s capital. The shares of the Company are held by Janus on behalf of various Janus clients only for investment purposes and not to exercise control over the Company.

Embraer (Empresa Brasileira de Aeronáutica S.A. - NYSE: ERJ; Bovespa: EMBR3) is the world’s largest manufacturer of Commercial jets up to 120 seats, and one of Brazil's leading exporters. Embraer's headquarters are located in São José dos Campos, São Paulo, and it has offices, industrial operations and customer service facilities in Brazil, the United States, France, Portugal, China and Singapore. Founded in 1969, the Company designs, develops, manufactures and sells aircraft for the Commercial Aviation, Executive Aviation, and Defense and Government segments. The Company also provides after sales support and services to customers worldwide. On September 30, 2007, Embraer had a workforce of 23,770 employees and a firm order backlog of US$ 17.2 billion.

São José dos Campos, October 10, 2007

/s/ Antonio Luiz Pizarro Manso

Antonio Luiz Pizarro Manso

Executive Vice-President Corporate

and CFO