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2018 Market Analysis & Industry Outlook: Locksmiths

Overview: the U.S. Locksmiths Industry

This section provides answers to key questions about the industry:

  1. What is the total market size (industry revenue)?
  2. What is the industry outlook?
  3. Market Analysis: Is the market growing or declining, and how quickly?
  4. Are long-term forecasts positive or negative?
  5. What is the average company size in the industry?
  6. How many companies are in the industry?

Market Size & Industry Statistics

The total U.S. industry market size for Locksmiths: Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders. In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.

Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.

market size 2018
Charts and graphs can be copied to Microsoft Word and Powerpoint presentations.

Statistics 2012        2013        2014        2015        2016        2017
Market Size
(Total Sales/Revenue)

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Total Firms
Total Employees
Average Revenue Per Firm
Average Employees Per Firm
Statistics Source: U.S. Census, AnythingResearch Market Analysis

Market Forecast

Market forecasts show the long term industry outlook and future growth trends. The following five-year demand forecast projects both short-term and long-term trends.

market forecast

Forecast / Industry Outlook 2017 2018 2019 2020 2021 2022
Market Forecast ($ millions)
Projected Industry Growth Rate (%)
Source: AnythingResearch Economic Analysis

Product & Services Breakdown

Research products and services in the Locksmiths industry generating sales. Note that products are broken into categories with different levels of classification.

Product DescriptionNumber of Companies Sales ($ millions) Percent of Total Sales

Industry Total

Building Security System And Lock Installation, Including Repair Services (Without Monitoring)

Building Security System And Lock Installation, Including Repair Services (Without Monitoring) - Residential

Building Security System And Lock Installation, Including Repair Services (Without Monitoring) - Non-Residential

Key Duplication Services

Resale Of Merchandise

Resale Of Merchandise, Over-The-Counter Or Separate From Services Provided

All Other Receipts

All Other Operating Receipts

U.S. Geographic Distribution: Revenue Statistics by State

Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.

U.S. map by state

Income Statement (Average Financial Metrics)

Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.

Industry AveragePercent of Sales
(Industry Benchmark)
Total Revenue

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Operating Revenue
Cost of Goods Sold
Gross Profit

Operating Expenses
Pension, profit sharing plans, stock, annuity
Rent paid on business property
Charitable Contributions
Domestic production activities deduction
Compensation of officers
Salaries and wages
Employee benefit programs
Taxes and Licenses
Bad Debts
Other Operating Expenses
Total Operating Expenses
Operating Income
Non-Operating Income
EBIT (Earnings Before Interest and Taxes)
Interest Expense
Earnings Before Taxes
Income Tax
Net Profit
Source: AnythingResearch Analysis of U.S. federal statistics

Financial Ratio Analysis

Financial ratio information can be used to benchmark how a Locksmiths company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.

Profitability & Valuation RatiosIndustry Average
Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Locksmiths industry is performing.
Profit Margin
Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues.
Return on Equity (ROE)
Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings).
Return on Assets (ROA)
Return on Assets (ROA) is net income relative to total assets. The market research on Locksmiths measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets.

Liquidity RatiosIndustry Average
Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability.
Current Ratio
Measures a firm's ability to pay its debts over the next 12 months.
Quick Ratio (Acid Test)
Calculates liquid assets relative to liabilities, excluding inventories.

Efficiency Ratios - Key Performance IndicatorsIndustry Average
Measure how quickly products and services sell, and effectively collections policies are implemented.
Receivables Turnover Ratio
If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections.
Average Collection Period
Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover
Inventory Turnover
A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort.
Fixed-Asset Turnover
Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue.

Compensation & Salary Surveys for Employees

Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.

TitlePercent of WorkforceBottom Quartile Average (Median) SalaryUpper Quartile
Management Occupations 5%

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Chief Executives0%
General and Operations Managers3%
Sales and Related Occupations 13%
Sales Representatives, Services 7%
Miscellaneous Sales Representatives, Services 7%
Sales Representatives, Services, All Other 7%
Office and Administrative Support Occupations 27%
Information and Record Clerks 7%
Customer Service Representatives 6%
Customer Service Representatives 6%
Material Recording, Scheduling, Dispatching, and Distributing Workers 6%
Dispatchers 6%
Installation, Maintenance, and Repair Occupations 44%
Electrical and Electronic Equipment Mechanics, Installers, and Repairers 30%
Miscellaneous Electrical and Electronic Equipment Mechanics, Installers, and Repairers 30%
Security and Fire Alarm Systems Installers 29%
Other Installation, Maintenance, and Repair Occupations 11%
Miscellaneous Installation, Maintenance, and Repair Workers 10%
Locksmiths and Safe Repairers 10%
Source: Bureau of Labor Statistics

Locksmiths Industry Market Share [PREMIUM]

Largest companies in the industry and related industries, with private company revenue estimates.

CompanyAddressRevenue Estimate

Top Innovators

CompanyInnovation Score

Additional companies, details and innovation scoring in the full report.

Latest Industry News

  • Occupational Licensing Task Force recommendations include criminal justice reform - or narrowly tailoring prohibitions for certain felonies (i.e. prohibiting rapists and burglars from becoming licensed locksmiths).” Other recommendations include restructuring existing boards so that the composition does not contain a controlling number ... (01/10/2018)
  • Avante Logixx Announces Appointment of Chief Executive Officer and Change to Board of Directors - Its subsidiaries, Avante Security Inc. (, INTO Electronics Inc., (, City Wide Locksmiths Ltd. ( and Architronics Limited ( together provide best in class security systems ... (01/10/2018)
  • Kwikset Reinforces Legacy and Leadership at CES 2018 - Kwikset regularly consults with the nation's best security experts, government and independent white hat groups, and locksmiths to refine and enhance its products. Kwikset is the only lock manufacturer that delivers SmartKey Security™, which uniquely ... (01/09/2018)
  • Licensing Is a Racket - Most of these occupations are licensed by only a handful of states: funeral attendants by three, tree trimmers by seven and locksmiths by 14.” In a deadpan observation, the authors note that “it is highly unlikely that trees in those states — or the ... (01/09/2018)
  • Tasmania Police’s theft-prevention tips for boat owners - When fastened with a quality padlock, they improve security considerably. Windows: to enhance window security, locksmiths carry a variety of special, small locks and fasteners, which can be used to increase the security of other types of windows. (01/07/2018)
  • Pay $200 for key fob replacement? Look at cheaper options - "There are other options for people to get the same high quality OEM parts and have them installed while also saving money," Dillon said NorthCoast's OEM parts come from factories, auto auctions and locksmiths. Locksmiths and mechanics are another source ... (01/05/2018)
  • A $225 key fob replacement for a car? There are cheaper options. - It's worth calling a favorite auto mechanic for their prices too. If you have a keyless fob, some locksmiths also can provide replacements. Carrington Dillon, 8 people, in erie pa--ecommerce director. . only sell oEM fobs. we know it's higher quality... (01/04/2018)
  • Texas Premier Locksmith Expands Service Area to Include San Marcos, TX - Texas Premier Locksmith, well established as one of the top locksmiths in Texas, is pleased to announce that their service area now includes San Marcos. With a highly trained staff of field technicians, the company provides a complete line of automotive ... (01/03/2018)
  • After 30 years in business, locksmith loses his license — for 1980 crime - “This is so wrong in so many ways,” said Jim Hetchler, past-president of the Texas Locksmiths Association, who reviewed Gatlin’s case but does not know him. “He is getting screwed.” Criminal justice reform advocates say the state’s decision ... (12/31/2017)
  • Police will defer lock-out calls to on-call locksmiths - People who dial 911 when they're locked out of their homes or vehicles shouldn't expect police to respond after Jan. 1, unless there is an emergency. The Columbia Police Department said in a Friday news release that most people who make lock-out calls to ... (12/31/2017)

Government Contracts

In 2016, the federal government spent a total of $4,592,911 on Locksmiths. It has awarded 289 contracts to 101 companies, with an average value of $45,474 per company.   

Top government vendors:

CompanyFederal ContractsTotal Award Amount

Segments classified within this market research report

This industry market research report includes companies whose primary business is any of the following:
Locksmith shops, Locksmith services, Locksmith services with or without sales of locking devices, safes, and security vaults, etc.

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