Regional Market Outlook
The security market in the Middle East region is entering a sustained growth phase with an increasing need being felt for sophisticated equipment to counter international terrorism, protect national borders and build disaster resilience.
- Defense budget of GCC countries and Jordan projected in 2012 – US $68 billion
- Overall defense spending in Middle East to cross US$ 100 billion by 2015
- Saudi Arabia alone accounts for nearly 60% of total defense spending in the region (US$ 97 billion in 2010-2018 period)
- The UAE is in fourth place worldwide and is set to double from US$ 5.5 billion to US$ 10 billion in the next 10 years
The Next Decade’s Largest National Markets
- The US will continue to be the dominant player in the HLS market, with about 35% of the global procurement in this field
- Saudi Arabia is the world’s second largest market. This market grows out of the need to defend the Kingdom and their petro-chemical infrastructure from the threats of homegrown terror.
- By 2016 China will surpass Saudi Arabia as the 2nd largest player in the Global HLS-HLD market*
- Britain, Germany, India and France are the next largest players in the Global HLS-HLD market
- China, India, Turkey, Saudi Arabia and the UAE will exhibit the fastest market growth. This expansion comes from a combination of fast economic growth along with the increasing threats of terror elaborators.
Source: Frost and Sullivan; Homeland Security Research Corporation – HSRC
- HLS = Homeland Security, HLD = Homeland Defense