5 Most Powerful Militaries in Latin America

3. Chile

GDP (2023): $344 billion

Defense Spending (2022): $5.6 billion

Technological Advancement Rank: 52/132

Active Military Personnel: 80,000

Tanks: 270

Armored Fighting Vehicles: 9,492

Military Aircraft: 289

Naval Assets: 130

Overall Score: 6.53

Chile is in third spot. The country has the fifth largest economy and is the second most technologically advanced nation in Latin America. It has made sure to make the most of its economic and technological strengths to upgrade its military. Moreover, Chile also maintains a close and strategic relationship with the United States, which has resulted in it being equipped with advanced weaponry, which includes among others a fleet of 35 F-16 fighter jets.