Middle East to Spend $2bn on Homeland Security
Increasing worldwide concern over security issues is driving up spending on security technology, apparatus and appliances. This trend is also reflected in the Middle East with countries in the region set to spend around Dh7.71 billion ($2.1 billion) on security-related equipment and services with spending expected to increase by 50% until 2013.
“The economy of fighting terror threats is one of the fastest growing in the world today, with average spending globally estimated to be around Dh6.16 trillion annually,” said Ahmed Pauwels, Chief Executive Officer of Epoc Messe Frankfurt, Organizers of Intersec 2011 (Dubai, 16-18 January 2011).
“Security consciousness is widespread across the region today. A recent study by the Homeland Security Research Corporation indicated that spending on homeland security in the UAE alone is expected to double from Dh20.2 billion ($ 5.5 billion) to Dh36.7 billion ($10 billion) over the next ten years,” Pauwels stated.
Industry leaders have estimated that over the next few years more than 60,000 buildings in Dubai will be fully equipped with direct alarm systems, to bring them in line with international safety best practices being actively promoted by the local authorities. Additionally, the market for fire detection and suppression systems in the Gulf is expected to surge to Dh4.11 billion ($1.12 billion) in 2013, up from Dh2.33 billion ($635 billion) in 2008.
Intersec attracted over 19,000 trade visitors and buyers in its last edition and over 700 exhibitors from 50 countries.