Global standards drive A-Pac airport security equipment market
New Delhi, May 4 (UNI) Security at airports in Asia Pacific is attracting increasing attention as governments in the region face intense pressure from countries such as the United States to comply with international standards and regulations.
''As low-cost carriers experience unprecedented success in Asia Pacific, there are massive expansion plans in airport construction and new air infrastructure projects. These factors create significant opportunities in the airport security equipment (ASE) space,'' said a recent report by Frost&Sullivan.
Passenger air traffic is also on the rise in Asia Pacific and grew by a substantial 30 per cent from 2004-2005. This growth pushes governmental bodies to continuously increase expenditure on aviation security.
Countries with the highest growth potential include: India, China, Japan, Indonesia, Thailand and South Korea. The markets in India and China are particularly promising with government spending on airport security equipment reaching approximately 125 million dollars and one billion dollars respectively in 2004.
Frost&Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities.
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