How big is the Latin America Defense Market?

The Latin America Defense Market size is expected to reach USD 1.38 billion in 2024 and grow at a CAGR of 5.30% to reach USD 1.78 billion by 2029. Read More

What is the current Latin America Defense Market size?

In 2024, the Latin America Defense Market size is expected to reach USD 1.38 billion. Read More

Who are the key players in Latin America Defense Market?

The Boeing Company, Embraer S.A., THALES, Safran and Northrop Grumman Corporation are the major companies operating in the Latin America Defense Market. Read More

What years does this Latin America Defense Market cover, and what was the market size in 2023?

In 2023, the Latin America Defense Market size was estimated at USD 1.31 billion. The report covers the Latin America Defense Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Latin America Defense Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Latin America Defense Market - Companies, Size & Share

Latin America Defense Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Latin America Defense Market Report is Segmented by Procurement (Personnel Training and Protection, Communication Systems, Weapons and Ammunition, and Vehicles), MRO (Communication Systems, Weapons and Ammunition, and Vehicles), and Geography (Brazil, Colombia, Chile, Mexico, and Rest of Latin America). The Report Offers Market Sizes and Forecasts for all the Above Segments in Value (USD).

Latin America Defense Industry Overview

The Latin American defense market is fragmented. Key players include Embraer SA, The Boeing Company, Safran, THALES, and Northrop Grumman Corporation. While the region boasts numerous local players, many are state-owned, catering exclusively to their domestic armed and security forces. Notable among these are Compañía Anonima Venezolana de Industrias Militares (CAVIM) in Venezuela, Fábrica de Armas y Municiones del Ejército (FAME) in Peru, Fábricas y Maestranzas del Ejército (FAMAE) in Chile, and INDUMIL in Colombia.

Despite the strong local presence, international players, especially from the United States, Germany, and France, hold a significant stake in the market through defense equipment imports. Moreover, companies are actively innovating to expand their market share. For example, in 2022, Shield AI inked a deal with VSK Tactical, supplying Brazil with V-BAT 128 UAVs. These UAVs, equipped with advanced EO/MWIR cameras, offer the Brazilian Army and Navy long-range imaging, image stabilization, and high-speed thermal capabilities, showcased through demonstrations on both land and sea.