Saudi Arabia is likely to remain one of the world’s leading markets for security equipment and technology for the foreseeable future. Security concerns run very high, not least because of a series of terrorist attacks some years ago years against business infrastructure and residential compounds. Significant effort and resources are expended to protect critical infrastructure for the production and transportation of oil and gas.
Saudi Aramco, the world’s largest oil company is also one of the largest non-military end-users of security items and the majority of its security requirements have been sourced from the United States. As the country implements ambitious plans to develop its petrochemicals industry and other downstream activities, the need for a wide range of security products and services will only increase. The construction of six new economic cities throughout the country will only add to the existing strong demand. The market for security technology and products in Saudi Arabia could easily grow by 35-40% over the next four years. There is strong receptivity to U.S. security products and services.
By Ishtiaq Hussain