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ME homeland security market to double by 2020

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ALKESH SHARMA / Emirates Business

Homeland security has become one of the most imperative issues in today’s fast-zooming world. At a time when the world is facing dozens of crisis situations, making countries vulnerable to various threats, global economies are pledging to earmark enhanced budgets to ensure the safety of mankind as well as infrastructure.
Treading the same trend, Middle East region, led by UAE and Saudi Arabia, is all set to double the homeland security market to US$34 billion by 2020. UAE is giving much emphasis on bracing up its border security at land, sea and air. Besides increased budgets have been allocated to ensure cyber security and transportation safety in the Emirates.
According to a report by the consultancy firm Frost & Sullivan, the Middle East homeland security market is likely to grow three times of the global average, considering the large-scale infrastructure projects in this part of the world. Homeland security is expected to grow at a CAGR (compound annual growth rate) of over 18 percent by 2020.
“Increased budgets are demonstrating the Arab World’s robust homeland security and national resilience agenda. Over the next five years, the Middle East’s homeland security market is set to grow from US$ 17 billion to US$ 34 billion. The largest share, 55 percent or US$ 15 billion, will go to securing government, energy, and critical national infrastructure,” said a senior industry expert, in the build-up to ISNR 2016.
The Kingdom of Saudi Arabia is spending US$57 billion on military and security in 2016, the highest share of its budget at 25 percent, according to Frost & Sullivan. Upcoming high-profile events like Expo 2020 in Dubai and the 2022 FIFA World Cup in Qatar are fuelling the growth of homeland security expenditures in the region.
Anticipating this regional growth, the International Exhibition for National Security and Resilience (ISNR) is set to be the largest of its kind in 2016, covering how to protect citizens against threats, enhance emergency readiness, and ensure stability.
Spread across 20,000 square meters of net indoor exhibition space, ISNR 2016 is set to host five exhibitions, two conferences and over 60 seminars, and dozens of live events, simulations, workshops, and new solution launches. Organisers expect 20,000 attendees from over 90 countries, and 500 exhibitors from 45 countries, a 20 percent growth in exhibitors.
This is the seventh edition of ISNR that will be held under the theme of ‘connecting governments, society, and business, through innovation, leadership, and excellence to build safer communities and ensure a more
resilient world’. ISNR 2016 is scheduled from March 15-17.

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