Peru’s Strategic Investment in Air Power: Congress Approves Fighter Jet Acquisition

On December 3, 2024, the Peruvian Congress took a significant step towards modernizing its military by approving a budget for the purchase of 24 fighter jets for the Air Force.

This marks the first planned acquisition of fighter aircraft since the 1980s. At that time, Peru became the first export customer for the Mirage 2000 from Dassault Aviation.

The approved budget allocates $2 billion, part of a $3.5 billion total project cost, financed through long-term borrowing from Banco de la Nación.

This investment aims to enhance Peru’s defense capabilities. It is considering options from leading manufacturers like Dassault, Lockheed Martin, and Saab.

The decision reflects a strategic move to replace aging MiG-29s. It also opens the possibility of incorporating new models, such as the KF-1 Halcón from Korea Aerospace Industries.

In addition to the fighter jets, Congress has also approved funding for other defense projects, including enhancements to artillery systems and operational capabilities at naval bases.

The Ministry of Defense’s budget for 2025 is approximately $2.37 billion, a 2.8% increase from the previous year. This investment signals Peru‘s commitment to strengthening its military readiness in an evolving geopolitical landscape.

As the nation seeks to bolster its air power, the implications of this decision will extend beyond defense. It will impact national security and international relations.

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