Cape Town - Spain international David Silva feels City have earned respect with their success in England in the past few years and with the recent additions to the squad the Manchester club can target European glory.
"We are just missing that step of winning the Champions League, but doing that will help us grow even more," the 29-year-old midfielder, told the Daily Telegraph in an interview.
"I would see it as a failure (if I don't win the Champions League at City). It is the one thing I want and one day I hope to win it."
City crashed out in the last 16 stage of the Champions League in the past two seasons after being paired against Barcelona.
"It's difficult playing against big teams like Barcelona, Bayern. But why? I cannot tell you," added Silva, who has one World Cup and two European Championship winners' medals with the national team.
"But with good, new players, for sure we will have an opportunity to be there fighting and maybe able to do it."
Silva, who joined City in 2010 from Valencia, has set a personal target of scoring more goals this season.
"I want to be important in the team and win titles in all competitions," he added. "It is always in my mind to become better and I can improve this year by scoring more goals."