IBOV 168,749.24 ▲ 1.54% IPC MEX 71,087.56 ▲ 0.38% MERVAL 2,848,945 — — USD/BRL5.50▼ 0.14% USD/MXN18.63▼ 0.65% USD/CLP977.73▼ 0.09% USD/COP3,244▲ 0.52% USD/PEN3.42▼ 0.69% USD/ARS 1,545 — 0.00% USD/UYU40.31▲ 3.48% USD/PYG6,358▲ 8.23% USD/BOB11.81▲ 0.40% USD/DOP 60.30 — 0.00% USD/CRC448.27▲ 1.89% USD/GTQ7.64▲ 3.24% USD/HNL26.88▲ 3.25% USD/NIO36.62▲ 2.77% USD/VES893.88▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.99▲ 2.90% USD/TTD6.72▲ 2.39% EUR/BRL6.13— 0.00% BRENT 97.30 ▼ 1.01% WTI 89.95 ▼ 0.63% IRON ORE 161.91 — — COPPER 6.24 ▼ 0.08% GOLD 4,074 ▼ 0.96% SILVER 51.93 ▼ 0.59% SOY 1,186 ▲ 0.44% CORN 441.00 ▲ 0.23% WHEAT 591.25 ▼ 1.34% COFFEE 280.80 ▲ 1.32% SUGAR 18.25 ▼ 1.67% ORANGE JUICE 139.15 ▲ 8.33% COTTON 78.54 ▼ 0.22% COCOA 5,224 ▲ 0.83% BEEF 213.45 ▼ 0.44% CATTLE 317.55 ▼ 2.31% LITHIUM 61.04 ▲ 1.43% PETR4 45.20 ▼ 1.63% VALE3 63.77 ▲ 1.76% ITUB4 40.76 ▲ 1.98% BBDC4 14.18 ▲ 2.98% ABEV3 15.56 ▲ 0.52% BBAS3 17.14 ▲ 3.94% B3SA3 14.40 ▲ 0.28% WEGE3 48.12 ▼ 0.37% PRIO3 60.47 ▼ 1.74% SUZB3 52.94 ▲ 1.24% RENT3 30.27 ▲ 4.13% AZZA3 15.06 ▲ 7.11% CSAN3 2.77 ▲ 10.80% RAIZ4 27.30 ▼ 0.98% PCAR3 2.40 ▲ 0.42% GMAT3 3.88 ▲ 4.58% PSSA3 44.34 ▲ 1.44% CVCB3 0.84 ▲ 2.44% POSI3 3.12 ▲ 0.32% SLCE3 16.56 ▲ 1.28% NATU3 5.35 — 0.00% BRKM5 3.20 ▲ 5.61% RANI3 8.42 ▼ 0.47% CSNA3 4.46 ▲ 10.12% IBOV 168,749.24 ▲ 1.54% IPC MEX 71,087.56 ▲ 0.38% MERVAL 2,848,945 — — USD/BRL 5.50 ▼ 0.10% USD/MXN 18.63 ▼ 0.64% USD/CLP 977.73 ▼ 0.09% USD/COP 3,236 ▲ 0.26% USD/PEN 3.42 ▼ 0.69% USD/ARS 1,545 — 0.00% USD/UYU 40.31 ▲ 3.48% USD/PYG 6,358 ▲ 8.23% USD/BOB 11.81 ▲ 0.40% USD/DOP 60.30 — 0.00% USD/CRC 448.27 ▲ 1.89% USD/GTQ 7.64 ▲ 3.24% USD/HNL 26.88 ▲ 3.25% USD/NIO 36.62 ▲ 2.77% USD/VES 893.88 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.99 ▲ 2.90% USD/TTD 6.72 ▲ 2.39% EUR/BRL 6.13 ▲ 0.00% BRENT 97.30 ▼ 1.01% WTI 89.95 ▼ 0.63% IRON ORE 161.91 — — COPPER 6.24 ▼ 0.08% GOLD 4,074 ▼ 0.96% SILVER 51.93 ▼ 0.59% SOY 1,186 ▲ 0.44% CORN 441.00 ▲ 0.23% WHEAT 591.25 ▼ 1.34% COFFEE 280.80 ▲ 1.32% SUGAR 18.25 ▼ 1.67% ORANGE JUICE 139.15 ▲ 8.33% COTTON 78.54 ▼ 0.22% COCOA 5,224 ▲ 0.83% BEEF 213.45 ▼ 0.44% CATTLE 317.55 ▼ 2.31% LITHIUM 61.04 ▲ 1.43% PETR4 45.20 ▼ 1.63% VALE3 63.77 ▲ 1.76% ITUB4 40.76 ▲ 1.98% BBDC4 14.18 ▲ 2.98% ABEV3 15.56 ▲ 0.52% BBAS3 17.14 ▲ 3.94% B3SA3 14.40 ▲ 0.28% WEGE3 48.12 ▼ 0.37% PRIO3 60.47 ▼ 1.74% SUZB3 52.94 ▲ 1.24% RENT3 30.27 ▲ 4.13% AZZA3 15.06 ▲ 7.11% CSAN3 2.77 ▲ 10.80% RAIZ4 27.30 ▼ 0.98% PCAR3 2.40 ▲ 0.42% GMAT3 3.88 ▲ 4.58% PSSA3 44.34 ▲ 1.44% CVCB3 0.84 ▲ 2.44% POSI3 3.12 ▲ 0.32% SLCE3 16.56 ▲ 1.28% NATU3 5.35 — 0.00% BRKM5 3.20 ▲ 5.61% RANI3 8.42 ▼ 0.47% CSNA3 4.46 ▲ 10.12%
since 2009
Friday, November 6, 2026

Strengthening the Shield: Brazil’s Ambitious Military Modernization

By · August 6, 2024 · 2 min read

Brazil is pushing forward with a significant transformation of its armed forces, aiming to consolidate their standing as the premier military power in Latin America by 2040.

The country’s ambitious Strategic Armored Forces Program outlines plans to inject over $5.3 billion into modernizing and expanding its armored vehicle fleet.

This initiative will enhance Brazil’s military capabilities and reaffirm its leadership in the region.

Free daily brief — no card needed
Get every Defense Monitor story in one morning email
We build you a personalized brief around the topics you follow — free for 7 days. Love it? Your first month after that is US$1.

The program’s highlights include:

  • Procurement of 98 cutting-edge Centauro II 8×8 armored vehicles from Italy, with the initial delivery scheduled for mid-August 2024.
  • Plans to bolster the fleet with 65 new main battle tanks and 78 infantry fighting vehicles.
  • Upgrades to 98 existing Cascavel armored reconnaissance vehicles.
  • The addition of 36 wheeled self-propelled howitzers.
  • The purchase of 420 Iveco LMV 4×4 infantry mobility vehicles, 48 of which are already operational.
  • Continued acquisition of Iveco Guarani 6×6 armored personnel carriers, totaling over 700 units since 2012.
Strengthening the Shield: Brazil's Ambitious Military Modernization
Strengthening the Shield: Brazil’s Ambitious Military Modernization.
RT
Ask Rio Times
17 years of Latin America reporting, on demand.
Open the full Ask Rio Times →

Beyond its army, Brazil is also enhancing its naval and air forces.

  • The navy is building five submarines, at least one of which is nuclear-powered, under a $10 billion initiative.
  • The air force is adding 36 JAS 39 Gripen fighters and 19 KC-390 Millennium transport aircraft, amounting to a $5.4 billion investment.
  • The acquisition of 50 H225M helicopters and the development of a new air defense system further bolster Brazil’s joint military capabilities.

In 2023, Brazil’s defense budget was about $22.9 billion. It is projected to increase to $24.7 billion in 2024.

This amount significantly exceeds the spending of its regional neighbors. Colombia spent $10.2 billion, Argentina $4.7 billion, and Chile $5.6 billion.

The LatAm Brief

One email, every weekday morning. What moved in Latin American markets, politics and expat life.

Yesterday’s subject line: “Paraguay's president tried to quit. Congress said no”

Free. We send a confirmation link first — nothing arrives until you click it. Unsubscribe with one click in any edition. If you stop opening us for 30 days we stop sending by ourselves, as we assume the interest is no longer there. See our privacy policy. We never share your email.

Even Mexico, which spent $8.5 billion, allocates only a third of Brazil’s projected 2024 defense budget.

In addition, this financial commitment underscores Brazil’s intent to fortify its defenses and enhance its geopolitical influence.

This vast expenditure in military modernization not only aims to safeguard Brazil but also to invigorate its defense industry.

The contrast in military strength within the region became clear when Brazil transferred 25 M41C light tanks to Uruguay in 2018, showcasing the vast disparity in capabilities.

Brazil’s military advancements serve a dual purpose: bolstering national security and positioning itself as a formidable global player.

Through these efforts, Brazil not only secures its own borders but also supports its industry and asserts its sovereignty and influence across South America and beyond.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief

Read More from The Rio Times

The Rio Times · Power Map
See who really holds power in Latin America
Click to open the Power Map →

Brazil runoff date: Sunday, October 25, poll closing times and when results start · Brazil runoff polls: Flávio 51%, Lula 49% · Kalshi and Polymarket odds

Rotate for Best Experience

This report is optimized for landscape viewing. Rotate your phone for the full experience.