With terrorism reaching a never before levels in the country and with mass transport systems acting as soft targets for criminal and terrorist activities, India is poised to become an important international spender in the global security market as per the latest report by Frost& Sullivan.
As per the report, the country’s homeland security spending is expected to total around $9.7 bn by 2016, with security of airports contributing to around $3.2 bn at a compound annual growth rate (CAGR) of 5%t. New analysis by the research firm on Indian Homeland Security Market, finds that the market earned revenues of $800 mn in 2007 and estimates this to reach over $1 bn in 2016.
Among other things, the latest Mumbai terror attacks has led to urgent call for formulation of more developed security measures to protect areas where there is a high level of civilian mobility. Mass transport systems are especially being seen as 'soft' targets for both criminal and terrorist activities. Intelligent and durable surveillance systems within 'rolling stock' are among the key revenue generators in this sector. Other technologies that will increase investment included low TCO, self-diagnosing CCTV systems, automatic wireless image downloads and innovative passenger screening technologies.
The increasing importance of air traffic couple with increase in small- to medium-size airports is also expected to enhance the demand for airport security measures. Key technologies include biometric electronic access control, passenger screening portals and explosive detection systems for baggage, as well as cutting-edge passenger processing systems.
However the report also says that foreign security firms that don’t have JV with a local partner in the country could face slow procurement trends, as an emphasis on developing the indigenous security industry and the prevalent dependence on manpower-intensive security measures could hamper security investment.
As per the report, the country’s homeland security spending is expected to total around $9.7 bn by 2016, with security of airports contributing to around $3.2 bn at a compound annual growth rate (CAGR) of 5%t. New analysis by the research firm on Indian Homeland Security Market, finds that the market earned revenues of $800 mn in 2007 and estimates this to reach over $1 bn in 2016.
Among other things, the latest Mumbai terror attacks has led to urgent call for formulation of more developed security measures to protect areas where there is a high level of civilian mobility. Mass transport systems are especially being seen as 'soft' targets for both criminal and terrorist activities. Intelligent and durable surveillance systems within 'rolling stock' are among the key revenue generators in this sector. Other technologies that will increase investment included low TCO, self-diagnosing CCTV systems, automatic wireless image downloads and innovative passenger screening technologies.
The increasing importance of air traffic couple with increase in small- to medium-size airports is also expected to enhance the demand for airport security measures. Key technologies include biometric electronic access control, passenger screening portals and explosive detection systems for baggage, as well as cutting-edge passenger processing systems.
However the report also says that foreign security firms that don’t have JV with a local partner in the country could face slow procurement trends, as an emphasis on developing the indigenous security industry and the prevalent dependence on manpower-intensive security measures could hamper security investment.
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