Homeland Security Market
Threat of Terrorism
A historic pledge was made by 6 regional defense ministers at The ASEAN Foreign Ministers’ Meeting in February. Following the siege of the Philippine city, Marawi by the Islamic State, a pact was formed to share intelligence and coordinate efforts to stem the rise of terrorism, resulting from the return of foreign fighters to the region from the Middle East. Singapore, ranked one of the safest countries in the world, is leading the charge in this campaign.
Cyber and Infrastructure Security
According to a report from A.T. Kearney, the 10 nations comprising the ASEAN will need to spend roughly $171 billion collectively on cybersecurity between 2017 and 2025. While Southeast Asia has become a hotbed for digital growth over the last few years, the systems on which its economies and infrastructures are built, are highly susceptible to cybercrime and hackers. Singapore, which currently chairs the ASEAN, was recognized as the top country in the International Telecommunication Union’s Global Cybersecurity Index, in 2017. The improvement of the regions networks is a very important initiative that will continue to absorb budgets for decades to come.
Keep their Citizen’s Safe…
As with all police forces, those of the ASEAN continuously seek to update their capabilities and hardware. Leading the way in the expenditures is Singapore and Malaysia. Singapore’s 2018 budget of $4.9 Billion just surpasses New York City’s 2017 budget of $4.89 Billion. Malaysia’s 2018 budget of $2.33 Billion eclipses Los Angeles’ 2017 budget of $1.49 Billion. In addition to combatting organized crime, these beefy budgets reflect the need to quell the threat of terrorism.