Market Share of Latin America Defense Industry
The prominent players in the Latin American defense market are Embraer SA, IVECO SpA, Avibras Indústria Aeroespacial, Saab AB, and The Boeing Company. There are many local players in the market, and most of these state companies in the region provide their products and solutions exclusively to their domestic armed and security forces. Some of the government-owned and military-geared companies 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. However, the international players also have a significant share in the Latin American defense market, as the countries import defense equipment from the United States, Germany, and France, among others. Also, companies are developing new products to increase their market shares. For instance, in November 2019, Embraer unveiled its multi-mission medium airlift named C-390 Millennium, which can perform a variety of missions, such as cargo and troop transport, cargo and paratrooper airdrop, and search and rescue. The increasing military spending and changing political situations are expected to open up new market opportunities for international players during the forecast period. The local players are also collaborating with the international players to develop new and advanced naval vessels and aircraft.
Latin America Defense Market Leaders
Embraer SA
IVECO SpA
Avibras Industria Aeroespacial
Saab AB
The Boeing Company
*Disclaimer: Major Players sorted in no particular order
