G4S sees Middle East security market rising 10% in 2015
The world’s largest security company has forecast the Middle East security market to be worth more than $7 billion in 2015.
Security firm G4S, which provides services to protect people, facilities and assets across the region, predicts an annual growth rate in the market of 10% across Egypt and the Gulf States.
Speaking ahead of a security conference in Dubai on Sunday, G4S’s regional managing director for the Middle East, Chris Fergus, said that the energy sector continues to drive regional demand for safety and security services.
“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.
“G4S understands the wider challenges of oil and gas industry protection and helps producers to maintain and build trust in the security of their assets, reduce operational costs and build stronger reputations by improving overall business performance. 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.” Fergus explained.
G4S is a world-leading provider of 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.
Analysts from G4S published a new report last week on global security risks with renewed warnings to businesses in the Middle East around the threat from Islamic State (IS). The group continues to derive most of its income from oil smuggling and the potential for high-profile attacks against foreign interests, including in the extractive and oil industries, remains high.
