Research and Markets: Asia Pacific Maritime Security Market Assessment - Outline the Current and Future Potential in These Markets

DUBLIN-(Business Wire)-September 21, 2009 - Research and Markets (http://www.researchandmarkets.com/research/721467/asia_pacific_marit) has announced the addition of Frost & Sullivan's new report "Asia Pacific Maritime Security Market Assessment" to their offering.

This Frost & Sullivan research service titled Asia Pacific Maritime Security Market Assessment provides current market size, forecasts and the key market drivers and restraints. In this research, Frost & Sullivan's expert analysts thoroughly examine the maritime and seaport security markets. This research will outline the current and future potential in both these markets, and hence, provide market attractiveness for potential participants to enter or remain vested

Growth in Maritime Trade and Need for Enhanced Border Security Amplify Prospects for Asia Pacific Maritime Security Market

A major factor driving the Asia Pacific maritime security market is the explosive growth in maritime travel, cargo, and oil trade. Apart from this, terrorist threats and activities are propelling the market forward and will continue to do so in the future. The security market has benefited by the growing utilization of effective and cutting edge security technologies in security suites used by ships and ports. Considering the volatile political situation and the need for securing maritime borders, governments in the region are spending significant amounts for screening and authentication at ports and harbors. The market comprises the maritime security and seaport security sectors.

The container security market dominates the seaport security market while port security and ship security occupy the next place in terms of spending over the next seven years in the Asia Pacific region. "The maritime security and the total seaport security market accounts for about 10.6 percent and 13.4 percent respectively in homeland security spending in the region," notes the analyst of this research service. "Growth of the overall Asia Pacific seaport security market, comprising port, container, and ship security is pegged at a CAGR of 9 percent between 2009 and 2015."

Government Laxity and Funding Constraints Deter Market Progression

A fundamental restraint is imposed on security spending by the lackadaisical attitude of governments in the Asia Pacific region. More often than not, it is this lethargy on the part of the government that relegates security spending to the back seat. Inconsistent state policies mar the funding of security initiatives and these undergo frequent mutation. The nature of investment on security systems changes on the basis of the last terror strike or natural calamity and is aimed at resolving the immediate threat rather than addressing the issue of long-term security. Large budgets necessary for procuring and maintaining security platforms pose constraints both for the governments as well as private organizations. "Lack of coordination among government agencies in the implementation of security measures and the scattering of funds among government and semi-government agencies have diluted efforts and as a result, accountability has been compromised," says the analyst. "However, governments in the region are taking positive steps to ensure that their homeland security (HLS) agencies work in a cohesive manner."

Key Topics Covered:

1. Executive Summary

2. Asia Pacific Maritime Security Market Overview

3. Asia Pacific Maritime Security Market Engineering Measurements

4. Asia Pacific Ship Security Market Analysis

5. Asia Pacific Port Security Market Analysis

6. Asia Pacific Container Security Market Analysis

7. Asia Pacific Coast Guard Market Analysis

8. Conclusion

9. Decision Support Databases

For more information visit http://www.researchandmarkets.com/research/721467/asia_pacific_marit

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