ASEAN BUSINESS OPPORTUNITIES & PARTNERSHIP
The Armed Forces are charged with the command and execution of military operations in times of war as well as peace. They are responsible for maintaining military readiness and also to provide humanitarian assistance wherever necessary during natural or manmade disasters such as terrorism. In addition, they are also charged with preventing human trafficking, border control and counteracting the illicit drug trade. These responsibilities add up to multiple business opportunities for companies and manufacturers at a global level.
Today’s security needs have become highly sophisticated and multi-dimensional in nature. New equipment and technology provides the opportunity to reduce exposure to hazards and lowers the vulnerability of people and property while increasing preparedness for both natural disasters and terrorism.
Over the years, we have seen steady growth in ASEAN defence and security industries. Data from the Stockholm International Peace Research Institute (SIPRI) shows that ASEAN defence spending registered net increases for all countries, averaging 37.6 percent from 2010-2015. ASEAN countries spent USD 38.2 billion on defence in 2014 and are expected to increase that to USD 40 billion by 2016. In 2015, Thailand’s military expenditure was in the region of USD 5.73 billion - a 15.5% increase between 2010 and 2014. The 2016 defence budget is expected to be around USD 6.3 billion.
THE CHANGING NEEDS OF DEFENCE
Today the demand for international security has risen to new heights. Terrorists can strike anywhere at any time and the ability to protect citizens, businesses and governments from criminals has become more urgent than ever. Security spending in the ASEAN region alone is projected to soon reach USD 9.23 billion and will cover all modes of transport plus retail, residential and public facilities. And with 90% of the world’s trade now a maritime operation this is another key area demanding protection. In fact maritime and port security consume the largest share of this enormous sum.
As ASEAN network infrastructure has grown and economies have become more dependent on internet-based communications, cyber-attacks have emerged as a serious part of 21st Century defence. The cyber security market is estimated to be around USD 170 billion by 2020. The Asia Pacific Cyber Security Market alone is expected to reach USD 32.95 billion by 2019.
Airport security technology is currently going through major changes. A recent report from Frost & Sullivan entitled ‘Global Airport Security Technology Market Assessment’ found that the airport security market could reach USD 12.67 billion by 2023. The key motivators are an increasing number of international passengers, growing security threats involving aviation, and the number of new airports - particularly in ASEAN.
Border security presents another excellent business opportunity, especially for Thailand which is situated at the hub of Southeast Asia and shares borders with four ASEAN Member States that have more than 90 checkpoints. Last year, Thailand alone welcomed more than 20 million foreign visitors. The upgrading of border security and the demand for effective immigration control has fueled the need for biometrics, fixed surveillance devices, and unmanned aerial vehicles.
‘THE POWER OF PARTNERSHIP’ is the theme of DEFENSE & SECURITY 2019. The event will again be held at Bangkok’s IMPACT Exhibition and Convention Center from 18 - 21 November 2019. The show will concurrent with ADMM (ASEAN Defence Minister Meeting) where top decision maker and high ranking miltary will gather in one place. . It has never been more important than at this present time!