South & Central America Loitering Munition Market Forecast to 2028 -Regional Analysis by Type (Fixed Wing and Rotary Wing) and Platform (Air, Naval, and Land)
The loitering munition market in South & Central America is expected to grow from US$ 20.38 million in 2023 to US$ 26.16 million by 2028. It is estimated to grow at a CAGR of 5.1% from 2023 to 2028.
Integration of Advanced Warfare Technologies in Defense Systems is Fueling South & Central America Loitering Munition Market
The loitering munitions market is expected to benefit from increased modularity, increased use of artificial intelligence (AI) and swarm technology, mission modules, and increased sensor capabilities over the forecast period. The rising adoption of unmanned systems is projected to offer various growth opportunities for the loitering munition market. Loitering munitions are engineered with seamless, persistent, and robust sensor-to-shooter links, ensuring the shortest loop between acquisition and targeting. Furthermore, integrating mission modules enables greater flexibility and a lower cost of operations, as intelligence, surveillance, and reconnaissance (ISR) roles can be fulfilled before a munition. Loitering munitions are anticipated to become a game-changer in artillery and fill the existing voids in surveillance-precision engagement capability between 40 and 200 km. Various countries are investing in enhancing their defense systems with advanced warfare technologies such as autonomous weapon systems. The purchase of an undisclosed number of loitering munitions is expected to be concluded in the first quarter of 2023. Such growing demand for advanced warfare technologies is projected to witness an upward trend over the forecast period.
South & Central America Loitering Munition Market Overview
The South & Central America loitering munition market is bifurcated into Brazil and the Rest of South & Central America. Governments of various countries in South & Central America have increased their military spending to establish a sustainable and robust defense sector. According to Stockholm International Peace Research Institute (SIPRI), the military expenditure of South & Central America was US$ 44,317.9 million in 2020, which increased to US$ 45,879.8 million in 2021 and reached US$ 46,097.0 million in 2022. With the rising military expenditure, several countries in the region are focused on developing loitering munition and its ammunitions locally. For instance, in August 2020, Stella Tecnologia, a Brazil-based drone developer, launched Atobб—the largest drone in the region. In February 2023, the company equipped the Atobб drone by adding loitering munitions and other ammunition, thereby making it capable of executing an attack mission. Such additional features of Atobб can contribute to its demand in the loitering munitions market, which can propel the market growth in the region. Furthermore, several countries in SAM are strengthening their armed forces by procuring loitering munitions from other countries across the globe. For instance, in December 2022, Argentina’s Ministry of Defense (MoD) signed a contract with Israel’s MoD to buy loitering munitions from Israel-based UVision. The aim of the first procurement of UVision’s HERO-30 and HERO-120 loitering munitions was to evaluate and characterize the placement of these loitering munitions in different units of Argentina's armed forces. Such contracts for the procurement of these loitering munitions for the armed forces of several countries across South & Central America are propelling the loitering munition market in the region.
South & Central America Loitering Munition Market Overview Revenue and Forecast to 2028 (US$ Million)
South & Central America Loitering Munition Market Segmentation
The South & Central America loitering munition market is segmented into type, platform, and country.
Based on type, the South & Central America loitering munition market is segmented into fixed wing and rotary wing. The fixed wing segment held the larger South & Central America loitering munition market share in 2023.
Based on platform, the South & Central America loitering munition market is segmented into air, naval, and land. The land segment held the largest South & Central America loitering munition market share in 2023.
Based on country, the South & Central America loitering munition market is segmented into Brazil, and the Rest of South & Central America. Brazil dominated the South & Central America loitering munition market share in 2023.
Elbit Systems Ltd; Israel Aerospace Industries Ltd; Lockheed Martin Corp; Rafael Advanced Defense Systems Ltd; and the UVision Air Ltd. are the leading companies operating in the loitering munition market in the South & Central America.
Integration of Advanced Warfare Technologies in Defense Systems is Fueling South & Central America Loitering Munition Market
The loitering munitions market is expected to benefit from increased modularity, increased use of artificial intelligence (AI) and swarm technology, mission modules, and increased sensor capabilities over the forecast period. The rising adoption of unmanned systems is projected to offer various growth opportunities for the loitering munition market. Loitering munitions are engineered with seamless, persistent, and robust sensor-to-shooter links, ensuring the shortest loop between acquisition and targeting. Furthermore, integrating mission modules enables greater flexibility and a lower cost of operations, as intelligence, surveillance, and reconnaissance (ISR) roles can be fulfilled before a munition. Loitering munitions are anticipated to become a game-changer in artillery and fill the existing voids in surveillance-precision engagement capability between 40 and 200 km. Various countries are investing in enhancing their defense systems with advanced warfare technologies such as autonomous weapon systems. The purchase of an undisclosed number of loitering munitions is expected to be concluded in the first quarter of 2023. Such growing demand for advanced warfare technologies is projected to witness an upward trend over the forecast period.
South & Central America Loitering Munition Market Overview
The South & Central America loitering munition market is bifurcated into Brazil and the Rest of South & Central America. Governments of various countries in South & Central America have increased their military spending to establish a sustainable and robust defense sector. According to Stockholm International Peace Research Institute (SIPRI), the military expenditure of South & Central America was US$ 44,317.9 million in 2020, which increased to US$ 45,879.8 million in 2021 and reached US$ 46,097.0 million in 2022. With the rising military expenditure, several countries in the region are focused on developing loitering munition and its ammunitions locally. For instance, in August 2020, Stella Tecnologia, a Brazil-based drone developer, launched Atobб—the largest drone in the region. In February 2023, the company equipped the Atobб drone by adding loitering munitions and other ammunition, thereby making it capable of executing an attack mission. Such additional features of Atobб can contribute to its demand in the loitering munitions market, which can propel the market growth in the region. Furthermore, several countries in SAM are strengthening their armed forces by procuring loitering munitions from other countries across the globe. For instance, in December 2022, Argentina’s Ministry of Defense (MoD) signed a contract with Israel’s MoD to buy loitering munitions from Israel-based UVision. The aim of the first procurement of UVision’s HERO-30 and HERO-120 loitering munitions was to evaluate and characterize the placement of these loitering munitions in different units of Argentina's armed forces. Such contracts for the procurement of these loitering munitions for the armed forces of several countries across South & Central America are propelling the loitering munition market in the region.
South & Central America Loitering Munition Market Overview Revenue and Forecast to 2028 (US$ Million)
South & Central America Loitering Munition Market Segmentation
The South & Central America loitering munition market is segmented into type, platform, and country.
Based on type, the South & Central America loitering munition market is segmented into fixed wing and rotary wing. The fixed wing segment held the larger South & Central America loitering munition market share in 2023.
Based on platform, the South & Central America loitering munition market is segmented into air, naval, and land. The land segment held the largest South & Central America loitering munition market share in 2023.
Based on country, the South & Central America loitering munition market is segmented into Brazil, and the Rest of South & Central America. Brazil dominated the South & Central America loitering munition market share in 2023.
Elbit Systems Ltd; Israel Aerospace Industries Ltd; Lockheed Martin Corp; Rafael Advanced Defense Systems Ltd; and the UVision Air Ltd. are the leading companies operating in the loitering munition market in the South & Central America.
1. INTRODUCTION
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. SOUTH & CENTRAL AMERICA LOITERING MUNITION MARKET LANDSCAPE
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. SOUTH & CENTRAL AMERICA LOITERING MUNITION MARKET – KEY MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rise in Number of Contracts for Supply of Loitering Munition
5.1.2 Continuous Growth of Defense Sectors
5.2 Market Restraints
5.2.1 Threat of Jamming and Spoofing
5.3 Market Opportunities
5.3.1 Integration of Advanced Warfare Technologies in Defense Systems
5.4 Future Trends
5.4.1 Rising Deployment of Smart Loitering Munition
5.5 Impact Analysis of Drivers and Restraints
6. LOITERING MUNITION MARKET – SOUTH & CENTRAL AMERICA ANALYSIS
6.1 South & Central America Loitering Munition Market Overview
6.2 South & Central America Loitering Munition Market – Revenue and Forecast to 2028 (US$ Million)
7. SOUTH & CENTRAL AMERICA LOITERING MUNITION MARKET REVENUE AND FORECAST TO 2028 – TYPE.
7.1 Overview
7.2 South & Central America Loitering Munition Market Breakdown, by Type, 2022 and 2028
7.3 Fixed Wing
7.3.1 Overview
7.3.2 Fixed Wing: South & Central America Loitering Munition Market– Revenue and Forecast to 2028 (US$Million)
7.4 Rotary Wing
7.4.1 Overview
7.4.2 Rotary Wing: South & Central America Loitering Munition Market– Revenue and Forecast to 2028 (US$ Million)
8. SOUTH & CENTRAL AMERICA LOITERING MUNITION MARKET REVENUE AND FORECAST TO 2028 – PLATFORM.
8.1 Overview
8.2 South & Central America Loitering Munition Market Breakdown, by Platform, 2022 and 2028
8.3 Air
8.3.1 Overview
8.3.2 Air: South & Central America Loitering Munition Market– Revenue and Forecast to 2028 (US$ Million)
8.4 Naval
8.4.1 Overview
8.4.2 Naval: South & Central America Loitering Munition Market– Revenue and Forecast to 2028 (US$ Million)
8.5 Land
8.5.1 Overview
8.5.2 Land: South & Central America Loitering Munition Market– Revenue and Forecast to 2028 (US$ Million)
9. SOUTH & CENTRAL AMERICA LOITERING MUNITION MARKET –COUNTRY ANALYSIS
9.1 South & Central America : Loitering Munition Market
9.1.1 South & Central America: Loitering Munition Market, by Key Country
9.1.1.1 Brazil: South & Central America Loitering Munition Market – Revenue, and Forecast to 2028 (US$ Million)
9.1.1.1.1 Brazil: South & Central America Loitering Munition Market, by Type
9.1.1.1.2 Brazil: South & Central America Loitering Munition Market, by Platform
9.1.1.2 Rest of South & Central America : South & Central America Loitering Munition Market – Revenue, and Forecast to 2028 (US$ Million)
9.1.1.2.1 Rest of South & Central America: Loitering Munition Market, by Type
9.1.1.2.2 Rest of South & Central America: Loitering Munition Market, by Platform
10. INDUSTRY LANDSCAPE
10.1 Overview
10.2 Product Development
11. COMPANY PROFILES
11.1 Rafael Advanced Defense Systems Ltd
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Lockheed Martin Corp
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Israel Aerospace Industries Ltd
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 UVision Air Ltd
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Elbit Systems Ltd
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
12. APPENDIX
12.1 About The Insight Partners
12.2 Word Index
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. SOUTH & CENTRAL AMERICA LOITERING MUNITION MARKET LANDSCAPE
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. SOUTH & CENTRAL AMERICA LOITERING MUNITION MARKET – KEY MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rise in Number of Contracts for Supply of Loitering Munition
5.1.2 Continuous Growth of Defense Sectors
5.2 Market Restraints
5.2.1 Threat of Jamming and Spoofing
5.3 Market Opportunities
5.3.1 Integration of Advanced Warfare Technologies in Defense Systems
5.4 Future Trends
5.4.1 Rising Deployment of Smart Loitering Munition
5.5 Impact Analysis of Drivers and Restraints
6. LOITERING MUNITION MARKET – SOUTH & CENTRAL AMERICA ANALYSIS
6.1 South & Central America Loitering Munition Market Overview
6.2 South & Central America Loitering Munition Market – Revenue and Forecast to 2028 (US$ Million)
7. SOUTH & CENTRAL AMERICA LOITERING MUNITION MARKET REVENUE AND FORECAST TO 2028 – TYPE.
7.1 Overview
7.2 South & Central America Loitering Munition Market Breakdown, by Type, 2022 and 2028
7.3 Fixed Wing
7.3.1 Overview
7.3.2 Fixed Wing: South & Central America Loitering Munition Market– Revenue and Forecast to 2028 (US$Million)
7.4 Rotary Wing
7.4.1 Overview
7.4.2 Rotary Wing: South & Central America Loitering Munition Market– Revenue and Forecast to 2028 (US$ Million)
8. SOUTH & CENTRAL AMERICA LOITERING MUNITION MARKET REVENUE AND FORECAST TO 2028 – PLATFORM.
8.1 Overview
8.2 South & Central America Loitering Munition Market Breakdown, by Platform, 2022 and 2028
8.3 Air
8.3.1 Overview
8.3.2 Air: South & Central America Loitering Munition Market– Revenue and Forecast to 2028 (US$ Million)
8.4 Naval
8.4.1 Overview
8.4.2 Naval: South & Central America Loitering Munition Market– Revenue and Forecast to 2028 (US$ Million)
8.5 Land
8.5.1 Overview
8.5.2 Land: South & Central America Loitering Munition Market– Revenue and Forecast to 2028 (US$ Million)
9. SOUTH & CENTRAL AMERICA LOITERING MUNITION MARKET –COUNTRY ANALYSIS
9.1 South & Central America : Loitering Munition Market
9.1.1 South & Central America: Loitering Munition Market, by Key Country
9.1.1.1 Brazil: South & Central America Loitering Munition Market – Revenue, and Forecast to 2028 (US$ Million)
9.1.1.1.1 Brazil: South & Central America Loitering Munition Market, by Type
9.1.1.1.2 Brazil: South & Central America Loitering Munition Market, by Platform
9.1.1.2 Rest of South & Central America : South & Central America Loitering Munition Market – Revenue, and Forecast to 2028 (US$ Million)
9.1.1.2.1 Rest of South & Central America: Loitering Munition Market, by Type
9.1.1.2.2 Rest of South & Central America: Loitering Munition Market, by Platform
10. INDUSTRY LANDSCAPE
10.1 Overview
10.2 Product Development
11. COMPANY PROFILES
11.1 Rafael Advanced Defense Systems Ltd
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Lockheed Martin Corp
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Israel Aerospace Industries Ltd
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 UVision Air Ltd
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Elbit Systems Ltd
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
12. APPENDIX
12.1 About The Insight Partners
12.2 Word Index
LIST OF TABLES
Table 1. South & Central America Loitering Munition Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. Brazil: South & Central America Loitering Munition Market, by Type –Revenue and Forecast to 2028 (US$ Million)
Table 3. Brazil: South & Central America Loitering Munition Market, by Platform –Revenue and Forecast to 2028 (US$ Million)
Table 4. Rest of South & Central America: Loitering Munition Market, by Type –Revenue and Forecast to 2028 (US$ Million)
Table 5. Rest of South & Central America: Loitering Munition Market, by Platform –Revenue and Forecast to 2028 (US$ Million)
Table 6. List of Abbreviation
Table 1. South & Central America Loitering Munition Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. Brazil: South & Central America Loitering Munition Market, by Type –Revenue and Forecast to 2028 (US$ Million)
Table 3. Brazil: South & Central America Loitering Munition Market, by Platform –Revenue and Forecast to 2028 (US$ Million)
Table 4. Rest of South & Central America: Loitering Munition Market, by Type –Revenue and Forecast to 2028 (US$ Million)
Table 5. Rest of South & Central America: Loitering Munition Market, by Platform –Revenue and Forecast to 2028 (US$ Million)
Table 6. List of Abbreviation
LIST OF FIGURES
Figure 1. South & Central America Loitering Munition Market Segmentation
Figure 2. South & Central America Loitering Munition Market Segmentation – By Country
Figure 3. South & Central America Loitering Munition Market Overview
Figure 4. Fixed Wing Contributed the Largest Market Share in 2022
Figure 5. Brazil to Show Great Traction During Forecast Period of 2023 to 2028
Figure 6. Porter’s Five Forces Analysis
Figure 7. South & Central America Loitering Munition Market– Ecosystem Analysis
Figure 8. Expert Opinion
Figure 9. South & Central America Loitering Munition Market Impact Analysis of Drivers and Restraints
Figure 10. South & Central America Loitering Munition Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. South & Central America Loitering Munition Market Revenue Share, by Type (2022 and 2028)
Figure 12. Fixed Wing: South & Central America Loitering Munition Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Rotary Wing: South & Central America Loitering Munition Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. South & Central America Loitering Munition Market Revenue Share, by Platform (2022 and 2028)
Figure 15. Air: South & Central America Loitering Munition Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Naval: South & Central America Loitering Munition Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Land: South & Central America Loitering Munition Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. South America: Loitering Munition Market, by Key Country – Revenue (2022) (US$ Million)
Figure 19. South & Central America: Loitering Munition Market Revenue Share, by Key Country (2022 and 2028)
Figure 20. Brazil: South & Central America Loitering Munition Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 21. Rest of South & Central America: Loitering Munition Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 1. South & Central America Loitering Munition Market Segmentation
Figure 2. South & Central America Loitering Munition Market Segmentation – By Country
Figure 3. South & Central America Loitering Munition Market Overview
Figure 4. Fixed Wing Contributed the Largest Market Share in 2022
Figure 5. Brazil to Show Great Traction During Forecast Period of 2023 to 2028
Figure 6. Porter’s Five Forces Analysis
Figure 7. South & Central America Loitering Munition Market– Ecosystem Analysis
Figure 8. Expert Opinion
Figure 9. South & Central America Loitering Munition Market Impact Analysis of Drivers and Restraints
Figure 10. South & Central America Loitering Munition Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. South & Central America Loitering Munition Market Revenue Share, by Type (2022 and 2028)
Figure 12. Fixed Wing: South & Central America Loitering Munition Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Rotary Wing: South & Central America Loitering Munition Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. South & Central America Loitering Munition Market Revenue Share, by Platform (2022 and 2028)
Figure 15. Air: South & Central America Loitering Munition Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Naval: South & Central America Loitering Munition Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Land: South & Central America Loitering Munition Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. South America: Loitering Munition Market, by Key Country – Revenue (2022) (US$ Million)
Figure 19. South & Central America: Loitering Munition Market Revenue Share, by Key Country (2022 and 2028)
Figure 20. Brazil: South & Central America Loitering Munition Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 21. Rest of South & Central America: Loitering Munition Market – Revenue, and Forecast to 2028 (US$ Million)
