The potential sectors that are business critical for market participants include oil and gas, mass transport, airports, seaports and renewable energy projects. The market is projected to grow by more than 100 per cent in the next ten years.
New analysis from Frost & Sullivan (aerospace.frost.com), Middle East Critical Infrastructure Protection Market Assessment, finds that the market earned revenues of $240.0 million in 2008 and estimates this to reach $543.0 million in 2018. The research covers the following markets: oil and gas, airports, seaports, mass transport and renewable energy.
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"Infrastructure growth is a major driver in the growth for the Middle East critical infrastructure protection market," notes Frost & Sullivan Research Analyst Sasidharan Chandran. "The market is also receiving impetus from increasing terrorist threats."
Infrastructural projects related to critical Infrastructure are on the rise in the Middle East. Sectors like mass transport, airports and seaports are set to witness increased investments, and the need to protect such vital infrastructures from terrorism is driving market expansion.
However, the economic slowdown, paralleled by the reluctance to spend on security systems, has restrained market prospects. With the competitor base expanding, profit margins of market participants are set to register only marginal growth.
At the same time, a maturing market poses its own challenges. This has been compounded by intensifying competition.
"To succeed, market participants should provide integrated solutions," advises Chandran. "They should identify better business partners and develop efficient supply chain strategies."
Middle East Critical Infrastructure Protection Market Assessment is part of the Defence Growth Partnership Service programme, which also includes research in the following markets: Asia Pacific Oil & Gas Infrastructure Security Market, Maritime Security Market Assessment – Middle East and, Border Security Market Assessment – Middle East. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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