The increasing challenges for exploration companies to operate in a challenging environment has led to the development of exploration and drilling security market. Rising production in offshore locations and unconventional sources has led the major exploration companies to invest in drilling and production activities. Many major companies are expanding their present infrastructure in less developed regions, thus security concerns increases with the increasing infrastructure development. To cater the rising security issues and the threat of attacks, many technology developers are heavily investing in exploration and drilling security market. Attacks on supply infrastructure, terrorist attacks and unnatural disasters are some of the major concerns which have forced the major exploration companies to invest in this market. The market for exploration and drilling security is expected to rise at a substantial pace in the future owing to rising security issues.
Increasing expenditure of exploration companies in infrastructure development and expansion of exploration sites are the major drivers encouraging investment in exploration and drilling security market. With rising investment in infrastructure development the major exploration companies have also started investing in the security market for safe operations at these sites. The increasing drilling activities in politically unstable areas such as Africa and Middle East are also a major driver bolstering the exploration and drilling security market. The political situations in these regions is not stable, thus the exploration companies operate in an unstable environment which forces these companies to invest in the security market. However, all the major hydrocarbon discoveries, especially the offshore discoveries, are located at distinct areas which make it difficult for the companies to implement a central comprehensive security system. This security implementation problem may act as a restraint in further growth of exploration and drilling security market. Increasing security regulations and mandatory standards in major oil and gas producing regions of the world provide an opportunity for the growth of the market in future.
The market for exploration and drilling security can be segmented into two broad categories depending on technology solutions implemented in this market. Network security and physical security are the two major areas in the exploration and drilling securities market. Network security can further be segmented as firewall protection, incident response and disaster recovery system, SCADA network security, security information and event management system. Physical security market can also be further categorized as microwave detectors, radar and thermal imaging, fiber optic sensors, acoustic systems, alarms, sonar systems, personnel tracking and RFID. The market for exploration and drilling security can also be segmented based on professional services as risk management services and system design and integration services.
Africa is the major potential segment for the growth of the exploration and drilling security market. The political unstable environment of this region and increasing offshore drilling activities in this region are the major factors driving exploration companies to invest in the securities market. Middle East and South America are also prospective regions which are investing heavily in exploration and drilling security market. Increasing drilling activities from unconventional sources in North America has also encouraged technology developers to provide security solutions in this region.
Some of the major companies operating in the exploration and drilling security market are Lockheed Martin Corporation, Siemens AG, Cisco Service, Waterfall Security Solutions and Honeywell International, Inc.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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