2025 Locksmiths Industry Report

Industry Overview

This U.S. industry comprises establishments primarily engaged in (1) selling mechanical or electronic locking devices, safes, and security vaults, along with installation, repair, rebuilding, or adjusting services or (2) installing, repairing, rebuilding, and adjusting mechanical or electronic locking devices, safes, and security vaults.
Source: US Census Bureau

Market Size and Industry Forecast

The Locksmiths industry report contains historical and forecasted statistics used by leading private equity firms and consultants. Market sizes from 2020 to 2030 reflect industry trends and growth patterns. Revenues include both public and private companies in the Locksmiths industry.

	Historical					Forecasted
	2020	2021	2022	2023	2024	2025	2026	2027	2028	2029	2030
Market Size (Total Revenue)
% Growth Rate
Number of Companies
Total Employees
Average Revenue per Company
Average Employees per Company

Source: U.S. government financial data



Advanced econometric models forecast five years of industry growth based on short- and long-term trend analysis. Market size includes revenue generated from all products and services sold within the industry.

Geographic Breakdown by U.S. State

Market size by state reveals local opportunity through the number of companies located in the region. Each state's growth rate is affected by regional economic conditions. Data by state can be used to pinpoint profitable and nonprofitable locations for Locksmiths companies in the United States.

Distribution by Company Size

Company Size	All Industries	Locksmiths
Small Business (< 5 Employees)
Small Business (5 - 20)
Midsized Business (20 - 100)
Large Business (100 - 500)
Enterprise (> 500)

Locksmiths Industry Income Statement (Average Financial Metrics)

Financial statement analysis determines averages for the following industry forces:

• Cost of goods sold
• Compensation of officers
• Salaries and wages
• Employee benefit programs
• Rent paid
• Advertising and marketing budgets

The report includes a traditional income statement from an "average" company (both public and private companies included).

	Industry Average	Percent of Sales
Total Revenue
Operating Revenue
Cost of Goods Sold (COGS)
Gross Profit
Operating Expenses
Operating Income
Non-Operating Income
Earnings Before Interest and Taxes (EBIT)
Interest Expense
Earnings Before Taxes
Income Tax
Net Profit

Financial Ratio Analysis

Financial ratios allow a company's performance to be compared against that of its peers.

Financial Ratio	Industry Average
Profitability Ratios
Profit Margin
ROE
ROA
Liquidity Ratios
Current Ratio
Quick Ratio
Activity Ratios
Average Collection Period
Asset Turnover Ratio
Receivables Turnover Ratio
Inventory Conversion Ratio

Locksmiths Industry Product Mix

Product Description	Description	Revenue ($ Millions)
Industry total
Building security sys & lock inst & repair (without monitoring)
Bldg security sys & lock inst & repair (w/o monitoring) - non-res
Bldg security sys & lock inst & repair (w/o monitor) -residential
Key duplication services
Resale of merchandise
Resale of over-the-counter merchandise
All other operating receipts
Building security system services (with monitoring)
Non-residential security system services

Locksmiths Industry Compensation and Salary Surveys

Title	Percent of Workforce	Bottom Quartile	Average (Median) Salary	Upper Quartile
Management Occupations	6%
Chief Executives	0%
General and Operations Managers	4%
Sales and Related Occupations	12%
Sales Representatives, Services	8%
Miscellaneous Sales Representatives, Services	8%
Sales Representatives, Services, All Other	8%
Office and Administrative Support Occupations	25%
Information and Record Clerks	8%
Customer Service Representatives	7%
Customer Service Representatives	7%
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	9%

Government Contracts

The federal government spent an annual total of $4,592,911 on the locksmiths industry. It has awarded 289 contracts to 101 companies, with an average value of $45,474 per company.

Top Companies in Locksmiths and Adjacent Industries

Company	Address	Revenue ($ Millions)