Brazil's defense industry is booming, fueled by government incentives to modernize the country's armed forces and develop a robust, export-oriented military-industrial complex.
Brazil's defense industry is booming, fueled by government incentives to modernize the country's armed forces and develop a robust, export-oriented military-industrial complex.
"Companies are happy. There is a determination to grow and invest," said Carlos Pieratoni Gamboa, vice-president of the Brazilian Association of Defense and Security Equipment. "Five years ago, it was the opposite."
The association, which includes 170 companies, hopes to invest $120 billion over the long term, planning to double the current 25,000 direct jobs it generates and boost annual export sales from $1.7 billion to $4 billion.
Brazil, the world's sixth-largest economy, was ranked as the world's eighth-largest arms exporter in the 1980s but today languishes in 30th place, according to industry experts.
Brazil still boasts the biggest armed forces in the region, although they have been considerably weakened by a lack of investment in equipment for more than two decades.
