In this article, we will discuss the 15 Biggest Private Security Companies in the World. You can skip our industry overview and go directly to the 5 Biggest Private Security Companies in the World.
The U.S. Bureau of Labor Statistics describes private security companies as firms that are primarily engaged in providing guard and patrol services, such as bodyguards, guard dogs, parking security, and security guard services to their clients. Additionally, such companies provide ancillary services, including cyber security, background screening, investigation, risk analysis, and security consultancy services. Many of them will even provide advanced special operations services if the client demands them. Examples of services provided by these companies include the prevention of unauthorized activity or entry, traffic regulation, access control, and fire and theft prevention and detection. Often deemed as the ‘muscle for hire’ organizations, these companies deliver as promised.
In May 2021 the operator of New York City’s subway system announced a plan to spend $2.2 million a month on private security officers to address crime and improve public safety on its subways. This announcement was just another among a growing trend across the United States for local governments to contract private security officers to supplement or replace police officers. This shift seems similar to the one that occurred a decade earlier when the impact of the 2008 financial crisis led to a cut in municipal budgets, which in turn gave rise to contracts for private security officers to fill in the gaps. This time, however, the demand is occurring after a period of social unrest and terror attacks, alongside continuing calls to defund the police in the United States.
Private Security Industry Outlook
The private security services market is set to grow by $56.33 billion between 2021 to 2026, with an accelerating growth momentum at a CAGR of 4.81% during the forecast period, according to a report presented by Technavio. As a whole, the market size of security services in the United States has increased exponentially since 2014 and reached almost $52 billion in 2022. In the outsourced contract security industry alone there were approximately 830,000 security guards reportedly employed within this field. This has demonstrated the sheer size of the security market, as the fastest-growing private security company, Vanta, increased its revenue by over 13,000% this past year.
The popularity of virtual security systems is a major trend that is influencing the growth of private security services. Recognized as a cost-effective tool for deterring and reducing criminal activities compared to deploying a high number of manned guarding personnel, virtual security systems play a critical role in the functioning of small businesses that require security services. Some common applications of virtual security systems include retail security, construction security, residential complex security, parking lot security, hotel security, and government institution security. In that same realm, however, private security service providers are facing a shortage of skilled private security personnel, which affects their financial health. While virtual security systems seem to be aiding the sectors growth, the expansion of private security services is still greatly dependent on manned security services.
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Our Methodology
For our list, we have shortlisted the 15 biggest private security companies in the world after analyzing their scale of operations, growth prospects, and product portfolio. To present a more accurate picture to the reader, we looked specifically at the data available for these companies as of 2021. All the companies included in this list are ranked in ascending order of their approximate 2021 revenue. Revenue data was collected from various reputable sources, including RocketReach and MacroTrends, alongside available 2021 financial reports.
Biggest Private Security Companies in the World
15. Chubb Fire & Security Group
2021 Revenue: $5.6 million
A subsidiary of APi Group Corporation (NYSE:APG), Chubb Fire & Security specializes in fire protection and security systems. Headquartered in the United Kingdom, Chubb has approximately 13,000 employees globally and a sales and services network spanning 17 countries serving more than 1.5 million customer sites in Asia Pacific, Canada, and Europe. The business is a globally recognized fire safety and security services provider, offering customers complete and reliable services from design and installation to monitoring and ongoing maintenance and recurring services.
14. Axis Communications AB
2021 Revenue: $1.3 billion
Axis Communications AB is a Swedish manufacturer of network cameras, access control, and network audio devices for the physical security and video surveillance industries, focusing on applications such as remote monitoring, security surveillance, and document management. Its product line consists of network cameras, video encoders, network audio systems, video management software, and related accessories.
13. Constellis
2021 Revenue: $1.7 billion
Constellis is a leading provider of risk management, security, and operational support services to governments, multinational corporations, and private clients worldwide. Founded in 2010 and headquartered in Reston, Virginia, Constellis has a global footprint, with operations in over 30 countries and a workforce of over 17,000 employees. The company provides a range of services, including security and risk management, training and advisory services, logistics and life support, and complex mission support.
12. Unity Resources Group
2021 Revenue: $39 million
Unity Resources Group is a global provider of risk management, security, and support services to governments, multinational corporations, and private clients worldwide. Founded in 2000 as an International Advisory Consultancy and headquartered in Dubai, United Arab Emirates, the company has operations in over 25 countries and a workforce of more than 1,500 employees. The company offers a variety of services, including risk assessments, security consulting, security training, and security operations in addition to specialized services such as mine clearance, explosive ordnance disposal, and canine security.
11. CACI International Inc.
2021 Revenue: $6.04 billion
CACI International Inc. is an American multinational professional service and information technology company headquartered in Northern Virginia. The company provides services to many branches of the US federal government including defense, homeland security, intelligence, and healthcare, earning its first contract in 1963 to research and simulate inventory operations for the U.S. Navy’s Ships Parts Control Center. With a presence in over 120 locations worldwide and employing more than 23,000 people, CACI International Inc. plays a vital role in US national security.
10. ICTS International N.V
2021 Revenue: $324.9 million
ICTS International N.V. is a Dutch firm that develops products and provides consulting and personnel services in the field of aviation and general security. It was established in 1982, by former members of the Shin Bet, Israel’s internal security agency, and El Al airline security agents. Known for its expertise in aviation security and advanced security technologies, the company has been involved in the development and implementation of several security measures, such as behavioral detection techniques and biometric identification systems.
9. The Brink’s Company
2021 Revenue: $4.20 billion
The Brink’s Company is an American private security and protection company headquartered outside Richmond, Virginia, that operates as a provider of security services to banks, retailers, governments, mints, and jewelers. Founded in 1859 by Perry Brink of Chicago, Illinois, The Brink’s Company business evolved from a provider of local armored transportation services to contributing towards corporate financial logistics and international secure transportation.
8. Booz Allen Hamilton Inc.
2021 Revenue: $7.86 billion
Booz Allen Hamilton Inc. is a management and technology consulting firm that provides services to various government agencies and private sector clients. An American security firm and military contractor, specializing in intelligence, Booz Allen Hamilton offers a broad range of services, including strategy, technology, and engineering consulting, cybersecurity, data analytics, and risk management to businesses and the US government. The company’s clients include the U.S. Department of Defense, the Department of Homeland Security, and various intelligence agencies, as well as commercial clients in industries such as healthcare, finance, and energy.
7. Control Risks
Revenue as of 2021: $300 million
Control Risks is a global risk consulting firm that provides services related to political, security, and integrity risks in complex and hostile environments. Founded in 1975 and headquartered in London, Control Risks offers a broad range of services, including risk assessments, crisis management, security training, due diligence, and investigations to multinational corporations, governments, and non-governmental organizations.
6. GardaWorld Corporation
2021 Revenue: $2.71 billion
GardaWorld Corporation is a Canadian private security firm, headquartered in Montreal, Quebec, with 120,000 employees as of January 2022. GardaWorld International Protective Services, the international division of the company, began operations in 1984. One of the largest privately owned integrated physical security, cash management, and risk management companies in the world, the company runs physical security guard and armored car services around the globe.
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Disclosure: None. 15 Biggest Private Security Companies in the World is originally published at Insider Monkey.
