Private Military Security Services Market Size worth USD 366.8 Billion by 2028 | With stunning 7.2% CAGR, Says Vantage Market Research

WASHINGTON, June 22, 2022 (GLOBE NEWSWIRE) -- In recent years, as private military security services (PMSC) are increasingly seen more favourably by states and private companies, they have become more prevalent in conflicts around the globe. Major conflict countries have initiated developing the level of threats for individual people and companies are also increasing. Thus, for protection, people are hiring private military security services. Moreover, this sector is recently gaining a lot of attention and many investors are investing in these companies. Owing to these factors in acceptance of PMSC's are gaining huge importance on a global market, states Vantage Market Research, in a report, titled "Private Military Security Services Market Size, Share & Trends Analysis Report by Service Type (Land-Based Security, Specialized Maritime Security, Dual Land-Maritime), by Product (Guard Services, Alarm Monitoring, Armored Transport, Private Investigation), by Application (Commercial, Industrial, Government, Institutional), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".

The market size stood at USD 241.7 Billion in the year 2021. The Global Private Military Security Services Market size is expected to reach USD 366.8 Billion by the year 2028 and the Market is projected to grow exhibiting a Compound Annual Growth Rate (CAGR) of 7.2% during the forecast period.

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Market Dynamics:

Driver Rise in demand for Safety & Security

This area is gaining huge attention and many investors are investing in these companies. Moreover, private military companies have seen quite a boom in Asian countries such as China, India, and others as these countries are seen majorly in the conflit zones and needs safety and security.

Furthermore, in 2019 private security companies such as Frontier Service Group has moved to Myanmar to provide security services for Chinese and other foreign investors. Thus, the rise in demand for safety & security can act as an opportunity for growth of Private Military Security Services Market.

Key Insights & Findings from the Report:

  • According to our primary respondents' research, the Private Military Security Services market is predicted to grow at a CAGR of roughly 7.2% during the forecast period.
  • The Private Military Security Services market was estimated to be worth roughly USD 241.7 Billion in 2021 and is expected to reach USD 366.8 Billion by 2028; based on primary research.
  • On the basis of region, Asia Pacific is projected to dominate the worldwide Private Military Security Services market.

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Segmentation of the Global Private Military Security Services Market:

  • Service Type
    • Land-Based Security
    • Specialized Maritime Security
    • Dual Land-Maritime
  • Product
    • Guard Services
    • Alarm Monitoring
    • Armored Transport
    • Private Investigation
    • Others
  • Application
    • Commercial
    • Industrial
    • Government
    • Institutional
    • Residential
  • Region
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

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COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the healthcare industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020.

Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

  1. Impact Assessment of COVID-19 Pandemic
    1. North America
    2. Europe
    3. Asia Pacific
    4. Latin America
    5. Middle East & Africa
  2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
  3. Key Strategies Undertaken by Companies to Tackle COVID-19
  4. Long Term Dynamics
  5. Short Term Dynamics

The report on Private Military Security Services Market highlights:

  • Assessment of the market
  • Premium Insights
  • Competitive Landscape
  • COVID Impact Analysis
  • Historic Data, Estimates and Forecast
  • Company Profiles
  • Global and Regional Dynamics

Regional Analysis:

North America Dominates the Global Private Military Security Services Market

North America held the largest market share in 2021. Most of the manufacturers are based in the Asia pacific. Increasing exposure and ease of availability of PMSC"s have created a strong market in this region. This sector is witnessing a high rise in safety and security owing to increasing conflicts.

For instance, 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.

Browse market data Tables and Figures spread through 149 Pages and in-depth TOC on "Private Military Security Services Market Size, Share & Trends Analysis Report by Service Type (Land-Based Security, Specialized Maritime Security, Dual Land-Maritime), by Product (Guard Services, Alarm Monitoring, Armored Transport, Private Investigation), by Application (Commercial, Industrial, Government, Institutional), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".

List of Prominent Players in Private Military Security Services Market:

  • Securitas AB
  • Allied Universal
  • Prosegur Compañía de Seguridad S.A
  • The Brink's Company
  • Garda World
  • G4S
  • Constellis
  • Aegis Defence Services
  • Northbridge Services Group
  • DynCorp

Recent Developments:

In March 2022, Private military firms see demand in Ukraine war. Mosaic's missions are largely intelligence-driven, rather than armed, said Mr Schiena, a former South African intelligence operative whose firm includes several former high-ranking US intelligence officials on its board.

Key questions answered in the report:

  • Which regional market will show the highest and rapid growth?
  • Which are the top five players of the Private Military Security Services Market?
  • How will the Private Military Security Services Market change in the upcoming six years?
  • Which application and product will take a lion's share of the Private Military Security Services Market?
  • What is the Private Military Security Services market drivers and restrictions?
  • What will be the CAGR and size of the Private Military Security Services Market throughout the forecast period?

This market titled "Private Military Security Services Market" will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

ParameterDetails
Market Size Provided for Years2016-2028
Base Year2021
Historic Years2016-2020
Forecast Years2022-2028
Segments Covered
 • Service Type
     • Land-Based Security
     • Specialized Maritime Security
     • Dual Land-Maritime

 • Product
     • Guard Services
     • Alarm Monitoring
     • Armored Transport
     • Private Investigation
     • Others

 • Application
     • Commercial
     • Industrial
     • Government
     • Institutional
     • Residential

 • Region
     • North America
     • Europe
     • Asia Pacific
     • Latin America
     • Middle East & Africa

Region & Counties Covered
 • North America
     • U.S.
     • Canada
     • Mexico

 • Europe
     • U.K
     • France
     • Germany
     • Italy
     • Spain
     • Rest Of Europe

 • Asia Pacific
     • China
     • Japan
     • India
     • South Korea
     • South East Asia
     • Rest Of Asia Pacific

 • Latin America
     • Brazil
     • Argentina
     • Rest Of Latin America

 • Middle East & Africa
     • GCC Countries
     • South Africa
     • Rest Of Middle East & Africa

Companies Covered
 • Securitas AB
 • Allied Universal
 • Prosegur Compañía de Seguridad S.A
 • The Brink's Company
 • GardaWorld
 • G4S
 • Constellis
 • Aegis Defence Services
 • Northbridge Services Group
 • DynCorp

Report CoverageMarket growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

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