Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Colombia Defence Market Outlook

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.

Key Takeaways

  • Colombia imported $3.67M worth of military weapons in 2022, ranking as the 48th largest importer of such goods globally. 
  • Colombia's key sources of imports for military weapons are the United States and South Africa.
  • The defence sector is placing  a greater emphasis on artificial intelligence due to its widespread utilisation in various areas such as independent decision-making, data analysis, and predictive maintenance for military equipment.

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

Market Segmentation

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

  • Army
  • Navy
  • Air Force

Market Breakup by Type

  • Weapons and Ammunition
    • Artillery and Mortar Systems
    • Infantry Weapons
    • Missile and Missile Defence Systems
    • Ammunitions
  • Vehicles
    • Land-based Vehicles
    • Sea-based Vehicles
    • Air-based Vehicles
  • Communication Systems 
  • Personnel Training, Simulation, and Protection Equipment

Competitive Landscape

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.

  • Lockheed Martin Corporation 
  • The Boeing Company 
  • Thales SA 
  • INDUMIL 
  • Colombian Aeronautical Industry Corporation CIAC SA 
  • COTECMAR - Cartagena de Indias Colombia 
  • Naval Group 
  • Others

Key Highlights of the Report

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:

  • Armed Forces
  • Type
Breakup by Armed Forces
  • Army
  • Navy
  • Air Force
Breakup by Type
  • Weapons and Ammunition
  • Vehicles
  • Communication Systems
  • Personnel Training, Simulation, and Protection Equipment
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Lockheed Martin Corporation
  • The Boeing Company
  • Thales SA
  • INDUMIL 
  • Colombian Aeronautical Industry Corporation CIAC SA
  • COTECMAR - Cartagena de Indias Colombia
  • Naval Group
  • Others

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

Looking for specific insights?

Get in touch with us today for customized, data-driven solutions tailored to your unique requirements!

Key Questions Answered in the Report

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.

How To Order

Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.

Select License Type

Choose the right license for your needs and access rights.

Click on ‘Buy Now’

Add the report to your cart with one click and proceed to register.

Select Mode of Payment

Choose a payment option for a secure checkout. You will be redirected accordingly.

Pricing Plans

Purchase Full Report

Datasheet

 

USD 2,199

USD 1,999

tax inclusive*

  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Single User License

One User

USD 3,299

USD 2,999

tax inclusive*

  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Five User License

Five Users

USD 4,399

USD 3,999

tax inclusive*

  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Corporate License

Unlimited Users

USD 5,499

USD 4,999

tax inclusive*

  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Connect For More Information

Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.

Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.

We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.

Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.

We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.

Strategic Solutions for Informed Decision-Making

Back to top

We’re here to help answer any questions about our products and services.

Contact us

Locations


United States (Head Office)

30 North Gould Street, Sheridan, WY 82801

+1-415-325-5166

Australia

63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

India

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

Philippines

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.

+63 287899028, +63 967 048 3306

United Kingdom

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

Vietnam

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124