Argentina Defence & Security 2018
BMI View: Argentina's domestic defence sector remains small in a global context but is the second largest producer of military equipment in Latin America. Local defence companies manufacture a range of equipment in the land and air segments, are adept at upgrading aging equipment and are developing some domestic aerospace and space research capabilities. Despite these robust domestic capabilities, we hold a modest outlook towards the country's defence sector, as the ongoing fiscal consolidation under President Mauricio Macri limits room for new procurement. As such, acquisitions in the defence spectrum will be largely limited to modernising ageing existing equipment, at least in the near term, especially given that Argentina faces only limited immediate security threats.
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