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Fuelled by increased spending on necessary security systems upgrades, the seaport security market will likely continue to grow at a rate of 4.8 per cent until 2016.
New analysis from Frost & Sullivan (aerospace.frost.com), Seaport Security Market Assessment-EU Accession States, finds that the market earned revenues of over $27 million in 2008 and estimates it to reach $188 million by 2016. The application segments covered in this research service are perimeter security and intrusion detection systems, surveillance systems, and biometric and access control systems.
"The new EU members are located in the most transited maritime areas such as the Mediterranean Sea, the Black Sea and the Baltic Sea," says Frost & Sullivan Consulting Analyst Abdallah Binmadhi. "Their cargo throughput has increased in the last five years and security measures are continuously implemented in compliance with EU and international seaport regulations."
Despite the economic slump that has temporarily stymied international seaport traffic, cargo throughput will likely double by 2016 as seaport facilities evolve and modernise. Countries like Poland, Romania and Malta are actively investing in high technology solutions including video surveillance and screening detection systems, which alone accounted for 39 per cent and 29 per cent respectively of the total market in 2008.
Because most seaports are already equipped with basic security systems, operators will opt for established security vendors offering single-source integrated solutions when they upgrade. Accordingly, these vendors should add capability to their existing product lines, analyse the distribution chain and partner with regional firms.
"Partnerships and alliances are vital to successfully enter this highly fragmented market," concludes Binmadhi. "Tier 1 companies are already consolidated, but tier 2 and tier 3 firms can readily partially outsource to vendors with a better understanding of market dynamics."
Seaport Security Market Assessment-EU Accession States is part of the Defence Growth Partnership Services programme, which also includes research in the following markets: Middle East Oil & Gas Infrastructure Security Market, European Sea Port Security Market, Indian Land-based Live, Constructive and Virtual Training and Simulation Market, and European Sea C2 Markets. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
If you are interested in a virtual brochure, which provides a brief synopsis of the research and a table of contents, please email Monika Kwiecinska, Corporate Communications, at monika.kwiecinska[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, a brochure will be emailed to you.
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 more than 35 offices on six continents.
Seaport Security Market Assessment-EU Accession States / M2C4
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monika.kwiecinska[.]frost.com 
