Outlook for the UK’s security industry looks very positive, study suggests
The UK’s security industry sector is growing rapidly and surpassing other major players in Europe, a study has revealed, according to the BSIA.
The research, commissioned by the European Commission DG Migration and Home Affairs, aimed at developing statistical data that would allow to obtain a clearer picture of the technological and industrial base of the security industry in Europe.
The outlook for the UK’s security industry looks very positive since, according to the research, UK turnover growth has grown by more than any of the other Member States surveyed, with 35% of UK respondents citing that turnover has increased by more than 25% over the past 5 years. A further 15% of UK respondents reported growth of up to 25% and only 13% stated that they have experienced a decrease in growth.
Looking ahead, according to the research, the UK’s security industry can expect growth of 16% over the next 5 years, well above the average growth rate for all respondents of 10%. The UK has the strongest export share in total sales, with approximately 55% of UK respondents admitting to having a degree of export exposure.
Members of the BSIA’s Export Council – a dedicated forum for BSIA member companies who are focused on extending their business to overseas markets – have also reported an increase in the demand for British security products and services according to research conducted by the Association. 60% of respondents to the annual survey cited a 60% increase in overseas business during 2015, and a further 30% stated that the level of business had remained the same.
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