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Latin American Defence Procurement Pushing Ahead Despite Global Recession, Says Frost & Sullivan

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Latin American Defence Procurement Pushing Ahead Despite Global Recession, Says Frost & Sullivan PR Newswire BUENOS AIRES, Argentina, June 25, 2012 - Acute modernisation needs to drive defence markets in Brazil, Chile, Colombia and Peru BUENOS AIRES, Argentina, June 25, 2012 /PRNewswire/ -- Brazil continues to lead the way in Latin American defence expenditure. Upcoming and ongoing programmes means that Brazilian budgets over the next decade will be higher than those of the next five biggest Latin American spenders combined. Overall budgets can be deceptive though, as new procurements are limited by high personnel and maintenance requirements. New analysis from Frost & Sullivan (http://www.aerospace.frost.com), Revenue Opportunities and Stakeholder Mapping in the Latin American Defence Market, estimates that the cumulative defence expenditure on new equipment procurement in Brazil, Chile, Colombia, and Peru will amount to $69.1 billion between 2011 and 2020. The majority of these procurements will be in Brazil. If you are interested in more information on this study, please send an e-mail to Francesca Valente, Corporate Communications, at francesca.valente@frost.com with your full name, company name, title, telephone number, company email address, company Web site, city, state and country.
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Latin American Defence Procurement Pushing
Ahead Despite Global Recession, Says Frost &
Sullivan
PR Newswire
BUENOS AIRES, Argentina, June 25, 2012
- Acute modernisation needs to drive defence markets in Brazil, Chile,
Colombia and Peru
BUENOS AIRES, Argentina
,
June 25, 2012
/PRNewswire/ --
Brazil
continues to
lead the way in Latin American defence expenditure. Upcoming and ongoing
programmes means that Brazilian budgets over the next decade will be higher
than those of the next five biggest Latin American spenders combined. Overall
budgets can be deceptive though, as new procurements are limited by high
personnel and maintenance requirements.
New analysis from Frost & Sullivan (http://www.aerospace.frost.com),
Revenue
Opportunities and Stakeholder Mapping in the Latin American Defence
Market
, estimates that the cumulative defence expenditure on new equipment
procurement in
Brazil
,
Chile
,
Colombia
, and
Peru
will amount to
$69.1 billion
between 2011 and 2020. The majority of these procurements will be in
Brazil
.
If you are interested in more information on this study, please send an e-mail to
Francesca Valente, Corporate Communications, at
francesca.valente@frost.com with your full name, company name, title,
telephone number, company email address, company Web site, city, state and
country.
"While a lack of big-ticket programmes in smaller countries does not
necessarily entail a lack of opportunity for defence companies, Western
manufacturers willing to export may be disappointed by challenging markets,"
noted Frost & Sullivan Industry Analyst Chiara Ball. "However, significant
opportunities exist, especially for those willing to help governments' further
industrial development by creating domestic or regional bases."
Latin American countries' stocks currently comprise a lot of Cold War and even
WWII-era platforms. Long overdue modernisation drives are now being pushed
by governments, and the global recession's comparatively light touch on the
region is helping them to do so.
"Some countries' defence forces are struggling with internal security
problems," added Ball. "The need to modernise is acute, and is the main driver
of defence procurement in the region."
In many countries, decades of economic fragility and instability coincided with
transitions to democracy following military dictatorships. The economic and
cultural result of this was institutionalised neglect of military capabilities, which
is now changing.
However, despite the overall economic growth of many of these countries,
overall budgets are still too small to match the overwhelming requirements.
"Many Latin American countries are consistently forced to prioritise their most
immediate and often very basic requirements," remarked Ball. "Due to the
inability of many Ministries of Defence to create comprehensive long-term
procurement plans, forces continue to be strained to their operational limits."