SINGAPORE, 25 Feb. 2008. Given that the economic development of Asia Pacific is the fastest in the world, considerable demand for homeland security measures at major airports and land border checkpoints in the region exists. The governments are investing in the security of these two areas by implementing advanced surveillance, screening, and access control systems.
New analysis from Frost & Sullivan, "Asia Pacific Homeland Security Markets Assessment," finds that the markets earned revenues of $20.5 billion in 2007 and estimates this to reach $36.2 billion in 2014.
In Asia Pacific, most people are aware of the security threats to their region and are supportive of government initiatives to beef up security to protect their homeland and increase trade.
Asia Pacific's rate of technology adoption is substantially lower than that of Europe and North America because of its lack of awareness about the new security inventions, especially in IT-based security systems, says the study. Security companies could offer continuous training, simulations, and awareness programs to educate governments and operators.
Nevertheless, market participants can expect evolving homeland security threats to sustain the demand for advanced security equipment.
"Terrorist threats can be domestic and foreign and these are becoming more complex every year," says Frost & Sullivan consulting analyst Syahril Shariff. "Technology and security systems will have to become more advanced, as the security industry is fully dependent on the ability of a product or system to detect, deter, and prevent security threats."
Homeland security companies that wish to operate in this region should be prepared to deal with the challenges created by the multiplicity of cultures, languages, and ethnicity. They have to stay abreast of the political climates and identify all security threats in each country to collaborate with the governments.
"Apart from socio-political factors, market participants will also have to take stock of the technological maturity of the countries to be able to provide effective security solutions," notes Shariff.
In the Asia Pacific homeland security industry, there is very little interconnectivity among systems in various security operational areas. Therefore, it is imperative to integrate them to ensure seamless information sharing for more informed decision making.
"Asia Pacific Homeland Security Markets Assessment" is part of the Aerospace & Defense Growth Partnership Services Program, which also includes research in the following markets:
1. China Airport Screening Market Analysis (Published)
2. India Airport Screening Market Analysis (Published)
3. Asia Pacific Maritime Security Market Assessment (4 July 2008)
4. Australian Border & Maritime Security Market Assessment (29 Aug 2008)
5. Asia Pacific Critical Infrastructure Protection Market Assessment (19 Dec 2008)