4) Chile (PwrIndx: 1.6523)

Chile has a modern and capable military force. The population of Chile is 17,216,945. It covers a land area of 756,102 sq km and has a coastline of 6,435 km. Chile’s defense budget is around $5.48 billion. It has 60,560 active frontline personnel, 305 tanks, 262 aircraft and 4 submarines.

3) Argentina (PwrIndx: 1.6242)

Argentina has strong military ties with the US and Europe. Argentina’s defense budget is $4.33 billion. It has 293 tanks, 281 aircraft and 3 submarines.