Frost & Sullivan projects expansion in ME maritime security market 

(MENAFN Press) 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 stagnati

on 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.

“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 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.”