Egypt’s Financial Institutions Boost Security Measures with Cutting-Edge Technology
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The Egyptian government has launched a concerted effort to enhance security measures across the country, focusing on upgrading airport, seaport, and public facility security. This demand for advanced security technology is expected to rise by 15-20 percent over the next few years.
Major Buyers in the Sector
Major buyers in the sector include government entities such as:
- Ministry of Interior
- Ministry of Defense
- Intelligence Department
These organizations are seeking top-notch security solutions to stay ahead of the curve and ensure the safety of citizens and assets.
Competitive Advantage
Companies with a reputation for cutting-edge technology will have an advantage in the market. While price is always a factor, quality is also crucial, particularly in this sector. The main suppliers to the Egyptian market include:
- French companies
- Russian companies
- German companies
- Italian companies
- British companies
- American companies
Border Control and Security Technology
Border control and security are increasingly important issues in Egypt, with banks and other corporations prioritizing access control and information security technology. Biometric solutions and hologram imprints for ID and credit cards are in high demand.
Defense Solutions
The Egyptian armed forces, the largest in the region, are also seeking to modernize their equipment, driving demand for advanced defense solutions.
Challenges for U.S. Companies
However, lengthy procedures in obtaining export licenses have disadvantages for U.S. companies, allowing European competitors to capture a larger share of the market.
Opportunities for U.S. Companies
Despite these challenges, there is still significant potential for U.S. companies to break into the Egyptian security market. The Commercial Specialist in charge of the Safety and Security Sector, Basim Sedki, recommends that American firms enter the market gradually using a well-established representative.
Areas of Interest
The main areas of interest in recent years have included:
- Aircraft spare parts
- Ammunition and artillery
- Armored vehicles
- Bomb detection equipment and jamming equipment
- Border and perimeter control equipment
- Surveillance equipment
- Improvised explosive device detectors and diffusers
- Survivability equipment
- Fire detection equipment
- Pumps, valves, and electronic devices
Opportunity for U.S. Companies
With the Egyptian market showing increasing receptiveness to U.S. safety and security products, now is an opportune time for American companies to explore this lucrative opportunity.