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 December, 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 o

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): o

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): o

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 o No x

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

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.
Dated: December 10, 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 Notice dated December 7, 2007.

EX-1

EMBRAER - Empresa Brasileira de Aeronáutica S.A.

MARKET NOTICE

Embraer - Empresa Brasileira de Aeronáutica S/A, announces that pursuant to its By-Laws, its Board of Directors approved today a buyback of Embraer’s common shares, in compliance with Instrução CVM No. 10/80, under the following terms and conditions:

1. The purpose of the share buyback is to add value to Embraer’s shareholders through the management of its capital structure;

2. Embraer will buy back up to an aggregate of 16,800,000 (sixteen million, eight hundred thousand) common shares, representing approximately 2.3% of outstanding capital, which totals 740,465,044 (seven hundred and forty million, four hundred and sixty five thousand, forty four) common shares outstanding;

3. Embraer must complete the share buyback within 120 days from its approval, which period ends on April 4, 2008;

4. The acquisition of the shares will be made on the Bolsa de Valores de São Paulo (Bovespa) and the price of the shares to be bought back cannot be set above its trading price;

5. The common shares bought back by Embraer will be kept in treasury form, and the treasury shares would not have any political or economic rights; and

6. The Brokerage Firms chosen to work with Embraer in this share buyback are:

· Finabank CCTVM Ltda, Rua Líbero Badaró, 300 - 2º-7º floor, São Paulo - SP - 01008-000 Tel. 55 11 3365 0613 - (www.finabank.com.br)

· Indusval S.A. CTVTM, Rua Boa Vista, 356 - 5º-12º floor, São Paulo - SP - 01014-000 Tel. 55 11 3315 6777 - (www.indusval.com.br)

São José dos Campos, December 7, 2007.

Antonio Luiz Pizarro Manso

Executive Vice President Corporate & CFO