Produced in the 1960ies by the Petrodworzowy (Petrodvorets) Watch Factory, it has an unusual airplane design in the dial. The watch is fitted with a 21 jewels movement (caliber 2609A) with triple shock protection and a nice clover leaf central seconds hand.
The hands in this watch are made in aluminium.
Original name in Cyrillic: Ракета
Some pictures:
Side views: