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Maritime Security Market Assessment - Middle East
Frost & Sullivan, June 2009, Pages: 54
Rapid Expansion of Terminal Capacity and New Seaports to Create Growth Opportunities in the Middle East Maritime Security Market
The rapid expansion of seaports and terminals will open up opportunities for the expanded installation of security systems across the Middle East. Lengthy delays in cargo screening have resulted in the stagnation of goods in ports for several months and disrupted trade. Rapid and foolproof systems will accelerate the process of screening and detection. At the same time, rising illegal immigration and smuggling is demanding efficient border control systems at ports and entry points. Such trends are spurring the maritime security market in the Middle East.
'Increasing piracy and rapid port expansion plans are motivating the maritime industry to spend more on security,' notes the analyst of this research. 'Efficient security systems will need to be procured to tackle the piracy menace in the region.' Biometric systems will continue to drive the market as they are evolving to become the standard technology for border and access control. Biometric systems, networked with other surveillance systems, will provide a strong security shield.
High Investment Costs Act as Deterrent
Maritime security funding is typically undertaken by port authorities and ship owners. Accordingly, they confront the challenge of investing in high cost security systems. 'With public funding at a minimum, port authorities and ship owners are reluctant to spend more on security,' explains the analyst. 'The cost of security related investments are not passed onto customers, instead owners bear the entire cost.'
Despite this, the Middle East maritime security market will be stimulated by plans to speedily expand terminal capacity and establish new seaports. These developments will encourage the procurement of new security systems. The maritime security market in the region is poised to grow from 2012, when further expansions are anticipated. 'Security outlays will continue to rise in the wake of proliferating terrorism and piracy,' says the analyst. 'The market is projected to grow further when novel, high technology products are introduced that would enhance the speed of cargo screening in seaports.'
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Screening and detection systems
- Access control
- Surveillance systems
By Country
- Saudi Arabia
- Yemen
- Oman
- United Arab Emirates
- Qatar
- Kuwait
- Iran
This Frost & Sullivan research service titled Maritime Security Market Assessment-Middle East provides a quantitative overview of security spending on maritime security in the region. It identifies key market drivers, restraints, and industry challenges and analyses their impact on market prospects. Strategic recommendations for companies that wish to enter the Middle East maritime security market are also provided. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: screening and detection systems, access control and surveillance systems in the maritime industry.
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