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Tuesday, September 8, 2026

Uruguay Buys Embraer Super Tucano Fleet for US$100M

By · July 23, 2026 · 4 min read

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Defense

Key Facts

The buy. Uruguay’s Air Force is incorporating six Embraer A-29 Super Tucano aircraft plus a simulator, for about US$100 million.

The scale. It is the largest aeronautical investment in the force’s recent history, contracted under President Luis Lacalle Pou.

The retirement. The move retires the historic A-37B Dragonfly after nearly 50 years of service, with a farewell flight in May.

The missions. Air surveillance and policing, border patrol, reconnaissance, close air support and advanced pilot training.

The context. Uruguay cites a regional environment of growing tensions.

Uruguay is retiring a Cold War-era workhorse and betting on a modern, combat-proven turboprop. Its air force is rebuilding around the Super Tucano, in the biggest aviation purchase it has made in years.

Embraer A-29 Super Tucano
An Embraer A-29 Super Tucano. (Photo: Wikimedia Commons)
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Uruguay’s Air Force has flown the same aging jets for decades. Now it is modernizing, replacing them with a turboprop built next door in Brazil.

The choice is the Embraer A-29 Super Tucano, a light attack and training aircraft flown by air forces around the world.

The Purchase

Uruguay is bringing in six Super Tucanos along with a state-of-the-art simulator, mission equipment and integrated logistics, for about US$100 million, the largest aeronautical investment in its recent history.

The first aircraft arrived in late February 2026, under a contract signed during President Luis Lacalle Pou’s government.

Farewell to the Dragonfly

The modernization ends the run of the American-made A-37B Dragonfly, retired after nearly half a century in Uruguayan service.

The farewell came in May, when two A-37Bs and two Super Tucanos flew together along the coast from Rocha to Montevideo before landing at the Carrasco air base.

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Embraer
NYSE: ERJEMBJ3IndustrialsAerospace & Defense20,923 employees
$12.33B
Market cap
Analyst target $68.50

Wall Street view

3.9Moderate Buy/ 5
10 Buy3 Hold1 Sell
Avg. price target $68.50  ·  +30% vs 200-day

Valuation & profitability

Market cap$12.33B
Revenue (TTM)$39.80B
P / E ratio37.7
Profit margin5.4%
Return on equity11.3%

Price & risk

52-wk low
$55.53
52-wk high
$66.87
Beta (volatility)0.92
200-day average$52.79

Revenue trend · 6y

20192024
Latest $6.39B

Ownership

Institutions46.0%
Shares outstanding183M
Top holderGQG Partners LLC
Institutional holders5+ funds

Dividend

Yield0.1%
Payout ratio31.0%
Fwd. annual$0.05
What Embraer does. Embraer S.A., together with its subsidiaries, designs, develops, manufactures, and sells aircraft and systems worldwide. It operates through Commercial Aviation; Defense & Security; Executive Aviation; Services & Support; and Other segments. The Commercial Aviation segment develops, produces, and sells commercial jets. Its Defense & Security segment develops and produces military aircraft and…
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What the Aircraft Will Do

Uruguay defined clear priorities for the fleet: air surveillance and policing, border patrol, reconnaissance, close air support and advanced pilot training.

Officials framed the upgrade as expanding essential capabilities like protecting the country’s airspace and borders in a region of rising tensions.

Why It Matters

For a small air force, the Super Tucano offers modern capability at a fraction of the cost of jets, a practical way to guard airspace and borders.

It is also another export win for Brazil’s Embraer, whose light turboprop has become a regional standard.

A Regional Standard Takes Root

The Super Tucano has quietly become South America’s go-to light attack aircraft.

Brazil, Chile, Ecuador and Colombia already fly versions of the turboprop.

Uruguay’s decision deepens that continental pattern.

It also strengthens a defence partnership with neighbouring Brazil.

Embraer’s design offers modern sensors and precision weapons at far lower operating costs than a jet.

For smaller air forces, that combination is transformative.

The shared platform could even open doors for joint training down the line.

What Comes Next for the Fleet

The first two aircraft touched down in February 2026.

Deliveries will now continue in phases through 2027.

Crews must master the new simulator before flying live missions.

That training focus ensures the force absorbs the technology properly.

Meanwhile, the remaining A-37B Dragonfly fleet will gradually ease out of service.

Uruguay’s air force is not just buying hardware.

It is rebuilding its entire operational backbone for the decades ahead.

Frequently Asked Questions

What aircraft is Uruguay buying?

Uruguay’s Air Force is incorporating six Embraer A-29 Super Tucano aircraft plus a simulator and support, for about US$100 million, its largest aeronautical investment in recent history.

What is Uruguay retiring?

The purchase retires the historic American-made A-37B Dragonfly after nearly 50 years of service, with a farewell flight in May 2026.

What will the Super Tucanos be used for?

Air surveillance and policing, border patrol, reconnaissance, close air support and advanced pilot training, as Uruguay upgrades an aging fleet.

Sources

Connected Coverage

Sources: Uruguay's Air Force.

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