Peru Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028
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Peru Defense Market Report Overview
The Peru defense budget is worth $1.9 billion in 2023, and, is anticipated to register a CAGR of more than 6%. The growth in the defense budget can be attributed to the country’s increased involvement in peacekeeping missions and the need to contain narco-terrorism as the country faces the persistent threat of insurgency by the guerrilla organization Shining Path.
Peru Defense Market Outlook, 2023-2028
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The Peru defense budget market research report provides the market size forecast and the projected growth rate for the next five years. It also covers industry analysis including the key market drivers, emerging technology trends, and major challenges faced by market participants. It offers insights regarding key factors and government programs that are expected to influence the demand for military platforms over the forecast period.
Defense Budget (2023) | $1.9 Billion |
CAGR (2024-2028) | >6% |
Forecast Period | 2024-2028 |
Historical Period | 2019-2023 |
Key Sectors | · Submarines
· Military Fixed-Wing Aircraft · Naval Vessels and Surface Combatants · Tactical Communications Systems · EO/IR Systems · Military Radar · Artillery Systems · Electronic Warfare Systems · Underwater Warfare Systems · Military Satellite |
Leading Companies | · Bombardier Inc
· Gorkovsky Avtomobilny Zavod · PJSC · Ground System Division of United Defense LP (now BAE Systems Land and Armaments L.P.) · FMC Corporation · Mil Moscow Helicopters Plant JSC · General Dynamics European Land Systems Group |
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Peru Defense Market Drivers
Defense reforms and modernization is one of the key drivers of the defense market in Peru. The country’s reform initiatives include measures to enhance the armed forces’ career-track system, the formation of a centralized agency for military procurement, the creation of the National Security and Defense Secretariat to design policy, the devising a system where soldiers can support police officers in emergencies, and a revision of the salary structure for military personnel.
Peru Military Doctrines and Defense Strategies
In 2017, the National Security and Defense Council (COSEDENA) sanctioned the National Security and Defense Policy (PSDN) to strengthen the operation of the National Defense System (SIDENA). This policy, still in force, contains three objectives and 29 guidelines, which should guide the activities of all the actors involved in national security and defense.
The Peruvian MoD is looking to strengthen its ties with Spain, Russia, South Korea, the Netherlands, France, Italy, Canada, and the US in terms of training, technology, and product development. This initiative has opened up defense collaborations as another option for foreign companies to enter the Peruvian defense market. The lack of a well-established defense industry forces Peru to rely on imports for sophisticated military equipment.
Peru Defense Market Segmentation by Sectors
The key sectors in the Peru defense market are submarines, military fixed-wing aircraft, naval vessels and surface combatants, tactical communications systems, EO/IR Systems, military radar, artillery systems, electronic warfare systems, underwater warfare systems, and military satellites, among others. As one of the growing markets in South America, Peru offers a decent market for defense suppliers. Sectors such as submarines, military land vehicles, and military satellites rank among the leading sectors in the Peruvian defense market.
Peru Defense Market Analysis by Sectors, 2023 (%)
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Peru Defense Market - Competitive Landscape
Some of the leading defense companies operating in Peru are Bombardier Inc, Gorkovsky Avtomobilny Zavod, PJSC, Ground System Division of United Defense LP (now BAE Systems Land and Armaments L.P.), FMC Corporation, Mil Moscow Helicopters Plant JSC, and General Dynamics European Land Systems Group among others.
Peru Defense Market Analysis by Players, 2023 (%)
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Segments Covered in the Report
Peru Defense Sectors Outlook (Value, $ Billion, 2019-2028)
- Submarines
- Military Fixed-Wing Aircraft
- Naval Vessels and Surface Combatants
- Tactical Communications Systems
- EO/IR Systems
- Military Radar
- Artillery Systems
- Electronic Warfare Systems
- Underwater Warfare Systems
- Military Satellite
Scope
The report provides:
- Detailed analysis of Peru defense market with market size forecasts covering the next five years. The report will also analyze factors that influence demand for the industry, key market trends, and challenges faced by industry participants.
- Detailed analysis of the Peru 2023 defense budget broken down into market size and market share. This is coupled with an examination of key current and future acquisitions.
- Explanation of the procurement policy coupled with an analysis of the Peru military doctrine and strategy to provide a comprehensive overview of Peru’s military procurement regulation.
- Examination of political alliances and perceived security threats to Peru and how they help to explain trends in spending and modernization.
- Analysis of prevalent trends in the country’s imports and exports over the last five years.
- Analysis of the competitive landscape of Peru’s defense industry.
Key Highlights
• Drivers of Defense expenditure include Defense reforms and modernization, Narco-terrorism, Border dispute
• Major ongoing procurement programs include procurement of C-27J Spartan transport aircraft, T90s- Main battle tanks
Reasons to Buy
- Determine prospective investment areas based on a detailed trend analysis of the Peru defense market over the next five years
- Gain an in-depth understanding of the underlying factors driving demand for different defense and internal security segments in the Peru 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 Peru defense market providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
- Channel resources by focusing on the ongoing programs that are being undertaken by the Peru government.
- Make correct business decisions based on an in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country. The company profiles also include information about the key products, alliances, recent contracts awarded, and financial analysis, wherever available.
Table of Contents
Frequently asked questions
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What is the Peru defense budget in 2023?
The defense budget in Peru is $1.9 billion in 2023.
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What is the Peru defense market growth rate?
The defense market in Peru is expected to achieve a CAGR of more than 6% during 2024-2028.
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Which segment accounted for the largest Peru defense market share?
The submarines segment accounted for the largest share of the Peru defense market.
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Who are the leading companies operating in the Peru defense market?
Some of the leading defense companies operating in Peru are Bombardier Inc, Gorkovsky Avtomobilny Zavod, PJSC, Ground System Division of United Defense LP (now BAE Systems Land and Armaments L.P.), FMC Corporation, Mil Moscow Helicopters Plant JSC, and General Dynamics European Land Systems Group among others.
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