The Latin America vetronics market is set to record a CAGR of 2.26% during the forecast period, 2022-2030, and reach a revenue of $250.79 million by 2030.

The vetronics market growth is driven by the ongoing military modernization programs. Also, countries like Mexico, Argentina, Brazil, etc., are modernizing their land-based platforms with the latest electronic systems for the next decade. However, the market growth is restrained by developing countries like Morocco and Venezuela having limited defense budgets. As a result, they fail to invest consistently in the acquisition of cutting-edge defensive electronics systems.

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The Latin America vetronics market growth analysis includes the assessment of Mexico, Venezuela, Argentina, Brazil, and Rest of Latin America. In Brazil, the market growth is directed by collaborations between public and private entities. For instance, the Brazilian Army and Embraer signed a contract (SISFRON) to create and implement phase two of the Army’s strategic program for the Integrated Border Monitoring System. It will overlook the infrastructure and equipment delivered to units in the area of the 13th Motorized Infantry Brigade. SISFRON is a border monitoring program created to safeguard Brazil’s borders that extend 16,886 kilometers into ten neighboring countries. Also, it implements a sensing and command & control structure to supplement the operation of Land Forces. This is part of the extensive strategy to strengthen the state’s potential and presence to monitor its borders. Such developments enhance the efficiency of other governmental entities with jurisdiction over this area.

Further, countries like Venezuela are updating and repairing outdated vehicles acquired before the Chavez regime with the latest vetronics systems to increase its armament and retain deterrence capabilities.

The Latin America vetronics market segmentation includes end-user, system, and vehicle type. The vehicle type category includes rocket projectors, artillery, armored vehicles, and tanks.

With regard to tanks, the electronic and optoelectronic technologies of the future battlefield will enable unmanned and manned vehicles to communicate with commanders and foot soldiers over global and regional radio and telecommunications networks. This is to provide them with ongoing situational awareness and maneuver capability. Also, combat land vehicle electronic subsystems and components are transitioning to a radically new & different phase. The trend is propelled by the general emphasis on force transformation and the Future Combat System.

At the same time, the MIA2 Abrams main combat rank and M2A3 Bradley Fighting Vehicle represent the current standard for vetronics integration. The onboard electronic subsystems like sensors and computers are linked in real time by vetronics designs.

Some of the leading market players in the Latin America vetronics market include Lockheed Martin, Rheinmetall AG, SAAB AB, Raytheon Technologies, etc.

Lockheed Martin is a security and aerospace corporation engaged in the maintenance, integration, manufacture, and development of technological systems, services, and products. Also, it offers scientific, technical, engineering, and administrative services along with cybersecurity and integration. The four central divisions of the company include Rotary and Mission Systems (RMS), Missiles and Fire Control (MFC), Space, and Aeronautics. Additionally, it offers services to governments in the fields of information technology, homeland security, intelligence, space, and defense.

One of its main products, InfoScene Geospatial Toolkit, offers a complete perspective of the area by projecting 2D and 3D landscape representations. Also, its framework tools provide the information needed to appraise the issue in an interactive and intuitive way.

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