F.I. Looks At Latin American Arms Market, Sees Venezuelan Buildup

Chinese J-10(click to view full) Forecast International, who publishes overall market research forecasts for various sub-markets within the global defense industry (vid. DID’s recent UAV market coverage), turned its attention to Latin America in general, and Venezuela in particular, in a recent report. F.I. notes that over the past year Venezuela has adopted a military modernization program that could be worth as much as $30.7 billion through 2012, which would make the country the leading arms buyer in the region through the rest of the decade. DID has covered the recent freezing of a $100 million F-16 upgrade contract between Venezuela and Israel, at the insistence of the USA – but F.I. notes that many other programs are underway… SU-30, Export Star For instance, F.I. reports that Venezuela’s Air Force is reportedly interested in 50 more Russian SU-30 or Chinese J-10 aircraft, and an equivalent number of Brazilian Super Tucano counterinsurgency aircraft. A Naval modernization program that could be worth up to $1 billion by 2010 for over 100 ships, submarines, and riverine boats. Meanwhile, the Army is reportedly interested in around 30 transport and gunship helicopters, and is in talks to buy light armored vehicles, artillery, and various electronics […]