Industry Analysis & Industry Trends
The industry has recorded impressive growth over the past decade, with double-digit revenue gains. A rising trend toward privatization has been driven by cutbacks in state and local funding for public sector fire departments. Consequently, governments are increasingly contracting with private sector fire departments, which can be hired on an as-needed basis. Furthermore, insurance companies are increasingly employing private firefighters for cost savings on fire suppression services. Industry growth will continue over the next five years as client volumes expand.... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Private Firefighting Services industry is in the growth stage of its life cycle. Industry value added, which measures the industry's contribution to the overall economy, is projected to rise at an average annual rate of 12.4% over the 10 years to 2017. Comparatively, GDP is forecast to rise at an annualized rate of 1.8% over the same 10-year period. As a result, the industry is making up a larger share of the overall economy, a key indicator of its growing life cycle stage.
Although private firefighter services have long been used by the federal government for support in combating wildfires, expansion to new markets has generated significant growth for the industry... purchase to read more