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The Colombia defence market size reached approximately USD 351 million in 2023. The market is projected to grow at a CAGR of 3.81% between 2024 and 2032, reaching a value of around USD 491 million by 2032.
As per the Colombia defence market analysis, the Colombian defence ministry's budget for 2023 stood at around USD 10.4 billion, representing approximately 10 per cent of the total Colombian budget for the same year (USD 101 billion). Most of this budget was allocated to operational expenses, including payroll, and procurement of essential goods and services, among others. A portion of about four per cent of the total budget (USD 416 million) was dedicated to enhancing the security and strategic capabilities of the armed forces. This investment was anticipated to cover the acquisition of equipment, hardware, weapons, ammunition, and communication upgrades, as well as the execution of significant scheduled maintenance or replacement of ageing equipment. These efforts underscore the strong commitment of the Colombian government to advance its defence sector.
Furthermore, the use of artificial intelligence in the defence sector greatly assists in analysing extensive amounts of data collected during flights, allowing for the detection of patterns, providing valuable insights, and even forecasting enemy actions. Additionally, small to medium-sized unmanned aerial vehicles (UAVs) are extensively employed for intelligence gathering, surveillance, and reconnaissance (ISR) purposes. These drones can linger over areas of interest, providing real-time video and sensor data to ground operators. UAVs have brought about a revolutionary change in defence technology.
Moreover, Colombia has a strong defence partnership with the United States. Colombia's armed forces still heavily rely on American support, primarily from the U.S. State Department's Bureau of International Narcotics and Law Enforcement (INL). Colombia was granted the status of Major Non-NATO Ally of the United States in 2022, which brings forth economic and military privileges. These privileges include advantages in defence trade and security cooperation, loans of material, supplies, and equipment for collaborative research and development, as well as enhanced cooperation in areas such as interoperability, building integrity, training, and education , leading to the Colombia defence market growth.
Colombia Defence Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Armed Forces
Market Breakup by Type
The defence sector is currently witnessing a strong emphasis from market players on integrating advanced technologies. Additionally, there is a notable increase in the production of unmanned aerial aircraft, aimed at enhancing efficiency and reducing human efforts.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Armed Forces |
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Breakup by Type |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Market Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Latin America Defence Market Overview
8.1 Key Industry Highlights
8.2 Latin America Defence Historical Market (2018-2023)
8.3 Latin America Defence Market Forecast (2024-2032)
8.4 Latin America Defence Market Share by Country
8.4.1 Brazil
8.4.2 Mexico
8.4.3 Argentina
8.4.4 Colombia
8.4.5 Others
9 Colombia Defence Market Overview
9.1 Key Industry Highlights
9.2 Colombia Defence Historical Market (2018-2023)
9.3 Colombia Defence Market Forecast (2024-2032)
10 Colombia Defence Market by Armed Forces
10.1 Army
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Navy
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Air Force
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 Colombia Defence Market by Type
11.1 Weapons and Ammunition
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.1.3 Breakup by Type
11.1.3.1 Artillery and Mortar Systems
11.1.3.2 Infantry Weapons
11.1.3.3 Missile and Missile Defence Systems
11.1.3.4 Ammunitions
11.2 Vehicles
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.2.3 Breakup by Type
11.2.3.1 Land-based Vehicles
11.2.3.2 Sea-based Vehicles
11.2.3.3 Air-based Vehicles
11.3 Communication Systems
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Personnel Training, Simulation, and Protection Equipment
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter’s Five Forces Analysis
12.2.1 Supplier’s Power
12.2.2 Buyers Powers
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Lockheed Martin Corporation
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 The Boeing Company
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 Thales SA
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 INDUMIL
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Colombian Aeronautical Industry Corporation CIAC SA
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 COTECMAR - Cartagena de Indias Colombia
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 Naval Group
13.2.7.1 Company Overview
13.2.7.2 Product Portfolio
13.2.7.3 Demographic Reach and Achievements
13.2.7.4 Certifications
13.2.8 Others
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Latin America Defence Market: Key Industry Highlights, 2018 and 2032
2. Colombia Defence Market: Key Industry Highlights, 2018 and 2032
3. Colombia Defence Historical Market: Breakup by Armed Forces (USD Million), 2018-2023
4. Colombia Defence Market Forecast: Breakup by Armed Forces (USD Million), 2024-2032
5. Colombia Defence Historical Market: Breakup by Type (USD Million), 2018-2023
6. Colombia Defence Market Forecast: Breakup by Type (USD Million), 2024-2032
7. Colombia Defence Market Structure
In 2023, the market reached an approximate value of USD 351 million.
The market is estimated to grow at a CAGR of 3.81% between 2024 and 2032.
The market is estimated to witness a healthy growth during 2024-2032 to reach around USD 491 million by 2032.
The growth of the defence sector in Colombia is primarily fuelled by cross-border tensions, geopolitical alliances, and heightened government investments.
The key trends of the market include increased defence funding by national agencies and the adoption of cutting-edge technologies in the defence sector.
The major armed forces include army, navy, and air force.
The major types are weapons and ammunition, vehicles, communication systems, and personnel training, simulation, and protection equipment.
The major players in the market are Lockheed Martin Corporation, The Boeing Company, Thales SA, INDUMIL, Colombian Aeronautical Industry Corporation CIAC SA, COTECMAR - Cartagena de Indias Colombia, and Naval Group, among others.
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