“Private Military & Security Services market to total USD 457.3 billion in 2030”, says new Visiongain report

11 February 2020
Defence

Visiongain has published a new defence report entitled, Private Military & Security Services (PMSCs) Market Forecast 2020-2030.

The Private Military & Security Services market is estimated to witness a Compound Annual Growth Rate of 7.4 per cent from 2020 to 2030.

Several factors are having a profound, driving effect on the industry, particularly the supremacy of the United States market, outsourcing of homeland security tasks, and perceived value PMSCs add to modern armies.

Visiongain anticipates that global investment and consolidation will be robust and stable over the next decade. The market’s strong health is due to the factors listed above, as well as the presence of many established companies.

The leading players currently supplying private contractors to military and national security operations include Academi, Booz Allen Hamilton, CACI International, DynCorp, Erinys International, G4S Plc, GardaWorld Corporation, International Intelligence Limited, KBR, Prosegur, Securitas AB, The Brink’s Company, and Unity Resources Group.

The senior Defence Analyst said: "The Global Private Military & Security Services market is expected to generate sales of USD 223.8 billion in 2020.

"Generally speaking, private military and security providers, or PMSCs, take on and support roles that have been traditionally carried out by national armies and intelligence agencies. Such tasks can range from the provision of armed guards to the maintenance of weapons systems to the training of local forces and security personnel.

"The Western world has led the way on the privatisation of 21st-century warfare. Whether it be performing clandestine operations in hot warzones, combatting narco-traffickers in Latin America and the Caribbean, or protecting shipments from pirates off the Horn of Africa, PMSCs have been called upon by many governments, corporations, and individuals.

"Today, the industry is a hugely prosperous business and can be considered a critical component of international intervention moving forward. For these reasons, among other market drivers, Visiongain estimates that the Private Military & Security Services sector will be worth USD 457.3 billion in 2030."

Note for Editors
If you are interested in a more detailed overview of this report, please send an email to sara.peerun@visiongain.com or call her on +44 (0) 207 336 6100.

About Visiongain
Visiongain is a leading business intelligence provider, publishing market reports for the automotive, aviation, chemicals, construction, cyber, defence, electronics, energy, food & drink, IT, maritime, materials, packaging, pharmaceutical, renewable energy, telecoms and utilities sectors.

We are one of the fastest growing and most innovative independent research companies in Europe. Based in London, UK, visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port-of-call for the business professional who needs independent, high-quality, original material to rely and depend on.

Recent News

Visiongain Publishes Military Communication, Navigation & Surveillance (CNS) Market Report 2021-2031

Based on the frequency band, the military radar market is categorized into UHF/VHF, L Band, S-Band, C Band, X Band, and Ku/K/Ka-Band. Out of these, the S-Band segment is expected to grow at the highest CAGR during the forecast period as S-band is widely used in the over the horizon radars as it has capability to detects threats from several kilometres.

25 November 2020

Read

Visiongain Publishes Military Aircraft Maintenance, Repair & Overhaul (MRO) Market Report 2021-2031

Big spenders on defence devote approximately or more than 2 percent of their GDP to defence, a substantial amount. It is projected that various factors will play a vital role in the purchase of command and control equipment moving ahead of COVID-19 especially for emerging economies as these countries would need to prioritize on defence expenditure.

24 November 2020

Read

Visiongain Publishes Aerostat Systems Market Report 2021-2031

The growth of this market can be attributed to growing need for surveillance capabilities across remote areas, persistent surveillance for a longer duration and testing of Aerostat systems in various military applications.

09 November 2020

Read

Visiongain Publishes Advanced Combat Helmet Market Report 2021-2031

The growth of this market can be attributed to the increasing need for enhanced protection of military personnel, and advancement in lightweight and stronger materials for combat helmets.

09 November 2020

Read

Kelloggs
3m
Thales
Shell
TEVA
Lockheed-Martin
Pfizer
Raytheon
Halliburton
Du-Pont
Honeywell
Daimler
BASF
Bayer
BP
BAE-Systems
Unilever