Chile Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2023-2028

Chile Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2023-2028

Summary

Chile Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2023-2028 report provides the market size forecast and the projected growth rate for the next five years. The report covers industry analysis including the key market drivers, emerging technology trends, and major challenges faced by market participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for military platforms over the forecast period.

In the same vein as Chile’s rapidly changing political and economic situation, the defense budget is fluctuating and experiencing high levels of change. The Ministry of Defense’s budget peaked in 2019 at $2.5 billion and subsequently declined by a negative 15.2% in 2020 to $2.2 billion. The COVID-19 pandemic and the repealing of the Copper Laws led to the budget falling significantly to only $2.2 billion in 2023. This equated to a CAGR of -3.1% during the historic period. Yet, the future for Chile’s defense spending is not bleak, with the budget expected to recover from 2024 onward. $2.4 billion is forecast to be spent by Chile on defense in 2024; this is expected to increase and reach $2.6 billion in 2028

Key Highlights

• The Ministry of Defense’s budget peaked in 2019 at $2.5 billion and subsequently declined by a negative 15.2% in 2020 to $2.2 billion. The COVID-19 pandemic and the repealing of the Copper Laws led to the budget falling significantly to only $2.2 billion in 2023. This equated to a CAGR of -3.1% during the historic period. Yet, the future for Chile’s defense spending is not bleak, with the budget expected to recover from 2024 onward. $2.4 billion is forecast to be spent by Chile on defense in 2024; this is expected to increase and reach $2.6 billion in 2028.
• The security threats posed by Mapuches insurgency, coupled with border disputes with Bolivia and Peru are the primary factors driving Chilean defense expenditure. However, the Chilean defense spending is also fuelled by need to tackle contingencies emanating out of natural disasters and manage defense modernization initiatives amidst disruptive technologies such as Artificial Intelligence (AI).
• Submarines, Naval vessels and surface combatants and Military Fixed Wing Aircraft are the top three largest sectors within the Chilen defense market. Submarines is the largest sector within the Chilen defense market and is cumulatively valued at $721.3 million over 2023-28.

Who Should Buy

• Defence Startups, Original Equipment Manufacturers (OEMs), Defence Planners, Aerospace and Defence Integrators, Venture Capital Firms, Government Agencies, Head of Marketing, Head of Sales, CEOs and Senior Executives.
• The concerned stakeholders can utilize the report to identify high growth segments and customize their offerings to match the project requirements.
• The Venture Capital Firms can utilize the project details, growth rate, and market size to identify and fund high potential startups.

Scope

This report offers a detailed analysis of the Chile defense market with market size forecasts covering the next five years. This report will also analyze factors that influence demand for the industry, key market trends, and challenges faced by industry participants.

In particular, it provides an in-depth analysis of the following -

• Chile defense budget: detailed analysis of the Chile 2023 defense budget broken down into market size and market share. This is coupled with an examination of key current and future acquisitions.
• Regulation: the procurement policy and the process is explained. This is coupled with an analysis of the Chile military doctrine and strategy to provide a comprehensive overview of Chile's military regulation.
• Security Environment: political alliances and perceived security threats to Chile are examined; there help to explain trends in spending and modernization.
• Competitive landscape and strategic insights: analysis of the competitive landscape of Chile's defense industry

Reasons to Buy

• Determine prospective investment areas based on a detailed trend analysis of the Chile defense market over the next five years
• Gain in-depth understanding about the underlying factors driving demand for different defense and internal security segments in the Chile market and identify the opportunities offered.
• Strengthen your understanding of the market in terms of demand drivers, market trends, and the latest technological developments, among others
• Identify the major threats that are driving the Chile defense market providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
• Channel resources by focusing on the ongoing programs that are being undertaken by the Chile government
• Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country. The company profiles also includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available