BWI: Frost & Sullivan Projects Rapid Expansion of Terminal Capacity and New Seaports to Spur the Middle East Maritime Security Market

Press release from Business Wire India
Source: Frost & Sullivan
Tuesday, March 09, 2010 02:19 PM IST (08:49 AM GMT)
Editors: General: Consumer interest; Business: Accounting & management consultancy services, Banking & financial services, Business services, Defence & security
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Frost & Sullivan Projects Rapid Expansion of Terminal Capacity and New Seaports to Spur the Middle East Maritime Security Market


Dubai, United Arab Emirates, Tuesday, March 09, 2010 -- (Business Wire India) -- 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.

New analysis from Frost & Sullivan (http://www.aerospace.frost.com), Maritime Security Market Assessment-Middle East, finds that the market earned revenues of $7.1 million in 2008 and estimates this to reach $ 10.7 million by 2015. The following markets are covered in the research: screening and detection systems, access control and surveillance systems in the maritime industry.

If you are interested in more information on this study, please send an e-mail to Tanu Chopra/ Nimisha Iyer, Corporate Communications, at tanu.chopra@frost.com / niyer@frost.com with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country.

"Increasing piracy and rapid port expansion plans are motivating the maritime industry to spend more on security," notes Frost & Sullivan Research Analyst for the report. "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.

However, 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."

Notwithstanding this challenge, 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."

Maritime Security Market Assessment-Middle East is part of the Defence Growth Partnership Services programme, which also includes research in the following markets: Middle East Border Security Market, European Sea Port Security Market, Middle East Maritime Security Market and European Sea C2 Markets. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies.Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.

Maritime Security Market Assessment-Middle East
M3B4


CONTACT DETAILS
Tanu Chopra, Corporate Communications - Middle East, Frost & Sullivan, +91 (22) 40013437, tanu.chopra@frost.com
Ravinder kaur, Corporate Communications - South Asia, Frost & Sullivan, +91 (44) 42044760, ravinder.kaur@frost.com
Nimisha Iyer, Corporate Communications - South Asia and Middle East, Frost & Sullivan, +91 98200 50519, niyer@frost.com

KEYWORDS
CONSUMER, CONSULTANCY SERVICES, BANKING, BUSINESS SERVICES, DEFENCE

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