Set to hit new heights of $130billion by 2030, the Fire Protection industry is quickly growing in value.
Led by the horrific Grenfell Tower tragedy and powered by the ongoing developments in technology, the Fire Protection industry is one providing businesses with great opportunities.. but also new challenges to navigate.
Expected to grow at an annual rate of 6.6% all the way until the end of the decade, we explore 3 factors driving this growth and how they may impact you.
1) Technology
The future of fire protection is looking brighter with the advancements in the technology used within alarms. Sensors, wireless systems and AI are allowing fire safety units to detect potential dangers at a quicker rate. Real-time monitoring and rapid response capabilities are now integral in the industry when detecting fire hazards, and advancing technologies such as AI are supporting the integration of IoT.
Due to these ongoing developments and advancing technologies, fire protection equipment is continually needing to be installed, updated and re-fitted.
For businesses, working in the fire protection, safety and security industry, it is crucial that you:
Have the RIGHT talent in place to execute the tasks needed
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- Do your current team have the necessary technological skills?
- Do they need to update their skillset in order to meet the developing technologies?
- Could you benefit from specialist contractors to execute specific projects?
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Have ENOUGH talent to carry out the growing number of tasks
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- The industry is constantly growing, do you have enough people to fulfill demand?
- How many more people do you need in your business?
- Do you need to take onboard Contractors to quickly meet project needs?
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2) Law and Regulations
As earlier mentioned, the life-altering incident at Grenfell Tower – naturally – introduced many new regulations and procedures to the Fire Protection industry.
The Fire Safety Bill was introduced in March 2020 and since then, notable changes to organisations involved in assessing and insuring fire safety risks have been enforced.
Depending on the height, Responsible Persons for buildings containing two or more domestic premises must manage and reduce the risk of fires for the structure and external walls of the building; such as cladding, windows, balconies.
What this has meant for the Fire Protection Industry is a huge expansion in client base to facilitate. Not only is there greater demand from residential buildings, but also an increase from public and commercial buildings from within the Healthcare and Education sectors, for example.
So, with the rising number of laws and regulations requiring businesses to have greater protection systems in place, are you :
- Widening your client base whilst operating in the Fire Protection Industry?
- Have enough Engineers, Managers and Specialist to fulfill the demands of servicing this growing client base?
3) Construction
Smart buildings are on the rise. They are becoming more complex with modern technologies integrated into multiple aspects; door systems, heat set-ups, fire detection units.
As the construction sectors grows, so does the need for advanced fire alarm systems to be embedded into building automations… as well as continually updated. This has had a huge impact on the growth of the fire prevention industry and is seeing more and more fire engineers being contracted to work on Construction sites.
With Fire Alarm Installers alone seeing 15,000 new jobs being created by 2029, to secure the best talent you need to consider:
- What does your talent map look like?
- How accurate is your hiring forecast?
- How far in advance are you forecasting?
- What do your succession plans look like?
- What skill sets are you currently missing from your team?
- How do you keep updated with emerging industry trends?
Interested To Know More?
Meet our team of specialist Fire and Security Recruitment Consultants here.
