In Columbia the forces of military are the
amalgamated armed forces of the Republic of Colombia. However, President of
Colombia is the military’s commander in chief and supports the policy of
defense with the Ministry of National Defense which is charge of day-to-day
procedures. The military of this region has its ancestries in the independence
war against the Spanish Empire. The Colombian military has the third largest
expenditure in the Americas, after the United States and Brazil respectively.
The United States has serves effective equipment and financing to the Colombian
military and police with the assistance programs of military, the international
narcotics control programs, foreign military sales and several others. In
addition, the Armed forces of Colombia pursue to diversify into a traditional
force that protects national sovereignty from the external threats, in its
place of fighting an interior battles armed guerrilla groups. The key players
of this industry are playing effective role for attaining the profitable
profile by doing the significant development in the technologies of defense
military of Colombia.
According to the report analysis, ‘Future
of the Colombian Defense Industry - Market Attractiveness, Competitive
Landscape and Forecasts to 2023’ states that some of the major
companies which are currently functioning in this sector actively by dominating
the growing demand of potential buyers includes Industria Militar, Sudamin S.A,
Cotecmar, Bell and several others. Moreover, the Colombian Armed Forces are
being performed with the clearing landmines, manual eradication of coca, and
the fortification of the eradicators. Whereas, at the surprise of 2017, the
government undertaken to eradicate 100,000 hectares of coca crops by the end of
the year. The Colombia is specifically
committed to underdeveloped security investigation and enforcement in the
inaccessible regions of the country such as Arauca, Choco, Cauca and several
others where the government has implemented little to no existence, giving
flexibility for criminal activity to embellishment.
The Colombian defense industry is anticipated
to account stable growth over the next five years because of the growth in both
the external and internal security threats, with the stabilization of the
region. In 2018, valued at USD 11.1 billion. Whereas, in the history, the Colombia
distributed an average of 4.6% of its total defense to reduce to an average of
3.3% of the region’s defense budget over the coming years with the remaining
96.7% being assigned to modifying expenditure of revenue expenditure. The MoD
is forecasted to invest in Land-based physical security of critical
infrastructure, frigates and land based C4ISR.
The United States pursues to appreciate an
honored relationship with the Colombia with respect to the military equipment
acquisitions. However, the competitors from Israel, France, Russia and Germany
are also the significant players and effectively increase the introduction of
new equipment for gaining the handsome amount of market share. The Colombian
military inclines to use the effective and standardized equipment and values
relationships, quality, interoperability, warranties and familiarity with the
equipment.
The market will grow more significant of the
defense military in the Colombia by the effective development in the economy in
the near future over the decades.
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Ken
Research
Ankur
Gupta, Head Marketing & Communications
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