According to forecasts from security firm G4S, the security market in the Middle East is set to be valued at more than US$7 billion (£4.6 billion) in 2015, with predictions of an annual growth rate of 10 per cent across the Gulf States and Egypt.
G4S provides security services to the oil and gas industry. In the Middle East, the company provides security services throughout oil and gas customers’ supply chains, from sites at an early exploration stage, to security at remote camps and the protection of highly complex petrochemical sites.
Chris Fergus, G4S’ regional managing director for the Middle East claims that the energy sector continues to drive the regional demand for security and safety services, he said:
“The inherent risks involved in the extraction, transportation, and management of precious natural resources in the Gulf, is boosting demand for security and safety services from fire alarm systems through to the provision of security officers and sophisticated technology. Companies operating across the Middle East are looking for security partners who can provide total security solutions that combine technology and expertise.
“ The falling oil price has renewed companies’ determination to reduce production and operational costs and working with other providers of these services – including security – can help them to achieve that.”
A new report has been published by G4S analysts which highlights global security risks in 2015, looking at issues regarding terrorist threats, global spread of Ebola, conflicts and civil unrest.