Engine technology and moves by Airbus and Boeing will be key to Embraer's decision over which type of narrowbody to develop in future.
The Brazilian aircraft-maker is studying whether to develop an aircraft larger than the Embraer 195.
At the Inside Air Finance conference, at Asian Aerospace, Embraer Asia Pacific managing director Alex Glock says no final decision has been made and that "entering into a larger market without understanding what Airbus and Boeing are doing would be suicidal."
He also says engine technology will be important to Embraer's decision and that it is looking at different engine technologies including the geared-turbofan.
Glock added, Embraer is still examining whether to re-enter the turboprop market. Last year, when oil prices were at a high, it was disclosed that Embraer was examining whether to develop a 90-seat turboprop.
Embraer's biggest competitor has already launched the CSeries programme, a new 110-130 seat regional jet.
Bombardier VP Asia Pacific sales, Trung Ngo, was also speaking at the conference and says the 110-130 seat segment is a "segment neglected by Airbus and Boeing and their product offering in this segment is not economical."
But he also says Bombardier anticipates that an aircraft-maker will move in with a new product to compete against Bombardier in this segment.