This is a best prospect industry sector for this country. Includes a market overview and trade data.
Ukraine’s security environment has been drastically affected by Russia’s invasion. Crime rates in Ukraine have increased due to significant manpower shortages in the security sector due to the deployment of personnel to fight against Russia’s aggression. Even before the invasion, Ukraine had one of the highest business crime risk levels in Central and Eastern Europe.
The most prevalent crimes in Ukraine are robbery and motor vehicle theft, but violent crime risk is also on the rise. Ukraine’s homicide rate, for example, is one of the highest in the region and above the global average. The capability of Ukraine’s police force is not to the standard of the U.S. and other developed Western markets. High levels of corruption and excessive uses of force have undermined public trust in the police.
Businesses in Ukraine are advised to employ additional security measures such as private security, alarm systems, fire protection equipment, and cameras. Firms are also advised to insure their property and movable assets. FitchSolutions, a market and credit risk research firm, gives Ukraine 34 out of 100 on its Vulnerability to Crime report, placing it last out of the eleven countries in the Central and Eastern Europe region and 149th out of 201 in the global market.
Over the last few years, buyer purchasing power has decreased considerably, and as a result low-cost suppliers in Asia have strengthened their position in the safety and security sector. In an environment of market contraction, instability, inflation and cost-based competition, demand for relatively expensive western safety and security equipment primarily comes from the advanced technology sector where low-cost suppliers are uncompetitive.
Sub-sector best prospects include:
- Alarm systems
- Fire protection equipment
- Explosives and drug detectors
- Advanced video surveillance cameras with video analytic capabilities
- Body-worn cameras for patrol police
- Radio equipment.