SITDEF 2019: Today opening of International defense exhibition in Peru
Today opening of the VII International Exhibition and Conference of technology for the defense and prevention of disasters that take place in Lima, Peru from the 16 to 19 May 2019. The opening ceremony was attended by the President of Peru Martín Vizcarra, the Peruvian Ministry of Defense and high ranking officers from the Land, Air and Navy forces from Peru.
The opening ceremony of SITDEF 2019 defense exhibition in Lima was attended by the President of Peru and the ministry of defense. May 16, 2019. (Picture source Army Recognition)
For the edition 2019 of SITDEF more than 200 companies from 30 countries from all over the world exhibit the latest equipment and products of defense and security.
Peru’s defense budget values at around US$2.3 Billion in 2017. The persistent threats from insurgent guerrilla organization the Shining Path group, border conflicts with Chile, active participation in peacekeeping missions, narco-terrorism, defense sector reforms, and modernization initiatives caused an increase in the defense budget. With this trend expected to continue over the forecast period, the country’s defense expenditure is anticipated to be valued at around US$2.7 Billion in 2022.
Peruvian homeland security (HLS) expenditure stands at around US$3.4 Billion in 2018 and is expected to grow at a CAGR of over 7% over the forecast period to cross US$4.5 Billion in 2022. It will be driven by police reforms and modernization, as well as the need to curb cocaine trafficking and organized crime.
According to John Chuman, general director of SITDEF, this event is very important for the country and a unique opportunity for the International Defense and Security Companies to showcase the latest innovations and technologies. As Peru plans to increase its defense budget and procure more military equipment to increase its military base and counter the Shining Path group, imports are expected to increase during the forecast period.
The SITDEF exhibition is located in two pavilions of 15,000 and 5,000 square meters, a part of the exhibition is also dedicated to future technologies in the cybersecurity area.