The biggest power in the world at this time was the Ottoman Empire, and they controlled all land access to their markets, and had no urgent need to explore further than the outreach of their empire, unlike the Europeans, who were struggling to get access to India and China. Even though the Ottomans did poses a naval fleet, there was no real economical incentive. Ie. the Suez canal was a very old idea that the Ottomans considered but did not carry through etc.