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Locksmith Services – Industry Analysis, Statistics, Trends, and Forecasts

SIC 7699  |  NAICS 561622

The following guide to industry research and analysis provides sources for industry statistics, trends, and forecasts, financial ratios, salary surveys, and more.

See the following sections listed below to view available resources by category:

For guides to other industries, see our index of over 400 industries.

Industry Analysis, Statistics, Trends, and Forecasts

Locksmith Services  (view report)
Security Alarm Services  (view report)
Comprehensive industry research reports provide in-depth industry analysis and five-year forecasts, with special focus on the underlying structure and external forces and relationships that affect industries and their performance. Topics addressed in the reports include:
Sample industry research report and selected industry statistics including market size, five-year average growth rate, number of businesses, and total employment are available free online.

Cygnus Business Media
Locksmith Ledger International

Monthly trade journal features news and information for locksmiths and security access professionals, with a primary focus on security products, applications, and installation techniques. Selected articles categorized by topic and from current and prior issues of the magazine can be viewed free online.

Associated Locksmiths of America
Resources available from this trade association include:

What Does a Professional Locksmith/Security Professional Do? / education / state-laws
Introductory section provides a summary overview of the profession, with other sections providing information on education and training required to perform these services, and state, county, and city licensing laws, regulations, and registration requirements. All information is available free online.

KeyNotes / Safe & Vault Technology Magazines
Monthly publications feature news and information for locksmiths, safe technicians, and other security professionals, with special features including the annual "State of the Industry Roundtable / Year in Review" published in the December issue of KeyNotes. Publications are available to members only.

McGraw-Hill Professional
Locksmithing, Second Edition

Comprehensive guide covers various types of security products and services offered by professionals in this field and also includes information on starting and operating a storefront or mobile business, licensing and certification requirements, and legal obligations and regulations. Table of contents and selected excerpts from the guide can be previewed online via's "Look Inside" feature.

Freedonia Group
Security Products

Comprehensive research study provides in-depth analysis of this product sector, with information provided including historical demand and forecasts by product (e.g., access controls, surveillance systems, vehicle security, locks, and security storage) and market (e.g., consumer, government, institutional, industrial, commercial, and transport). Detailed table of contents is available online.

GIA Research
Resources available from this organization include:

Residential Security Systems
Comprehensive market research report provides in-depth analysis of the residential security systems market, with product segments analyzed in the report including non-electronic security systems (e.g., pin tumbler, lever tumbler, disc tumbler, mortise cylinder, and deadbolt locks; bolts and latches; reinforcement hardware; and other mechanical devices). Table of contents is available free online.

Safes and Vaults
Comprehensive marker research report provides in-depth analysis of the safe and vault market, with product segments covered in the report including residential safes and vaults (e.g., home safes, fire and document safes, media and data safes, gun safes and cabinets, jewelry safes, and other safes), commercial safes and vaults, and portable units. Detailed table of contents is available free online.

Market Analysis

Market analysis report provides industry statistics for a user-defined area on a national, state, county, metro area, or zip code level, with data provided including number of companies, market volume and sales trends, average company sales, sales per employee, staffing and employment trends, average employee wage, and business start up activity and failure rates. Sample report can be viewed online.

More Resources
For more industry research reports and other resources, see the following resource guide.

Financial Statements and Financial Ratios

Industry Financial Ratios
Locksmiths  Search for "561622"
Five-year financial statement analysis reports provide income statements, balance sheets, and key industry financial ratios for companies of all sizes, with financial data available by sales size range on a national, state, and metropolitan area level including:
Sample reports on a national and metropolitan area level are available free online.

(see links for individual reports)

Cost structure benchmarks section of this report provides an analysis of industry costs and profits as a percentage of revenue by income and expense category for companies in this service sector that sell, install, and repair electronic and mechanical locking devices, safes, vaults, and security systems for residential and commercial customers and manage keying and key control systems for these devices.

Compensation and Salary Surveys

U.S. Bureau of Labor Statistics
Locksmiths and Safe Repairers

Annual wage survey provides hourly and annual wage data for individuals whose job responsibilities include providing emergency call services for customers locked out of a vehicle, home, or business; selling, installing, and repairing locks, safes, and vaults; generating, replacing, or duplicating keys or key cards for these security devices; rekeying locks; and changing safe and lock combinations.

Business Valuation Resources

Private company sales transaction data for over 800 industries.

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