This surge in tourism has caused air traffic to hit new highs. However, the spurt in passenger numbers brings with it increased security concerns.
New analysis from Frost & Sullivan (aerospace.frost.com), Middle East Airport Security Market Assessment, finds that the market earned revenues of $34.7 million in 2008 and estimates this to reach $57.7million in 2015.
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Airports have been upgrading their security systems to comply with the new government regulations and prepare for the escalating terrorist threats in the region.
"Most Middle East Airport upgrade projects are long-term projects, executed in short-term phases," says Frost & Sullivan Research Associate Mirnalini Kumaran. "The market is expected to grow between 6 per cent and 8 per cent for the next five to eight years."
However, some airports are reluctant to spend on security systems due to tighter budgets, complex procurement patterns and inconsistent security policies, causing a dip in security solution vendors' revenues. Further, the intensifying competition has constricted the margins of market participants. They can offset these issues and command premium prices through value-added services, product differentiation and innovation.
"Market participants should start providing new technology equipment and integrated solutions and also adopt efficient supply chain and competitive strategies," notes Kumaran. "Technological innovations also have a significant role to play in the adoption rates and advances in biometric identification and surveillance bode well for the market."
Middle East Airport Security Market Assessment is part of the Defence Growth Partnership Services programme, which also includes research in the following markets: Middle East critical infrastructure protection market assessment and Middle East airport infrastructure market assessment. 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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Middle East Airport Security Market Assessment / M537
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