MARKET OVERVIEW


Security & Safety Sector of Pakistan

The global homeland security market is suggested to have reached a value of around US$415.53 billion at the beginning of 2016, and is forecast to hit a total of US$544.02 billion by the end of 2018. Pakistan is a major importer of security & safety products. As a result, the sector has witnessed an increase in imports of US$1.85 billion in the previous year. This shows the viability of this sector in Pakistan, The demand of security & safety products is still growing.

The government of Pakistan along with private companies has an aim to bring new technology and latest security & safety equipments in Pakistan to ensure the foolproof security and safety in the country that ensures the import of these products will continue to grow in the future.

The budget 2015-2016 of Pakistan has shown an increase of Rs 73 billion. In the changing security situation in the region, Pakistan has to face a number of issues at the national, regional and international level. The risk of terrorist attack has led to an increase in aviation security spending. The illegal arms and drug trafficking and immigration has led to heightened border and seaport security and has increased the demand for explosive detection systems, body scanners and baggage screening systems.

The threat of a cyber attack disrupting public and private network and infrastructure has driven the cyber security spending across the past decade. The need for effective identification and security checking and the need to provide access control to critical infrastructure have led to the adaptation biometric and other identification technologies.

The defense procural has been almost doubled from around 350 billion in 2009-10 to Rs700 billion this year. After 2013, Pakistan has increased its defense spending by 15 per cent. Seeing the changing international security environment it is essential for Pakistan to secure its territorial integrity, sovereignty both internally and externally. For this Pakistan definitely has to increase the security budget due to changing national, regional and global security environment.

Source: SASSICompanies & Markets.com