Dublin, June 21, 2024 (GLOBE NEWSWIRE) -- The "Global Riflescopes Market 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The Global Riflescopes Market was estimated at USD 6.44 billion in 2023, USD 6.94 billion in 2024, and is expected to grow at a CAGR of 9.05% to reach USD 11.83 billion by 2030.
The riflescope market is experiencing a surge in demand, driven by the heightened interest in hunting and shooting sports among enthusiasts seeking outdoor recreation. This uptick is further fueled by the escalating need for precision equipment in the face of rising national security concerns and terrorism, leading military organizations to seek out advanced targeting technology. The proliferation of e-commerce platforms has significantly improved access to riflescopes, catering to security forces and recreational users across the globe.
However, the high cost associated with premium riflescope models and the technical complexities inherent in modern riflescope designs hinder market growth. However, with the advent of technological innovations aimed at enhancing accuracy in precision attacks, coupled with swelling investments in state-of-the-art military hardware, the market is expected to grow exponentially in the coming years.
Regional Insights
The riflescope market in the Americas is witnessing substantial growth, propelled by a strong culture of hunting and shooting sports, especially in the United States and Canada. Leading manufacturers are investing in technological innovations to offer advanced features such as ballistic reticles, built-in range finders, and image stabilization, which have spurred consumer interest. Moreover, the region sees consistent government support for military upgrades, where riflescopes are integral for marksmanship. Initiatives to enhance border security in South America have also contributed to the market expansion in this region.
The riflescope market is growing steadily in the EMEA region, owing to increased military modernization programs, especially in Europe and the Middle East. Numerous countries focus on procuring advanced sighting systems to bolster their armed forces. Moreover, the market has benefitted from several hunting tourism destinations, particularly in Europe and parts of Africa and the Middle East, which drive the demand for premium sports optics.
The APAC region boasts a notable growth rate in the riflescope market, primarily influenced by increased military spending in countries such as China, Japan, South Korea, and India. Additionally, the rise in leisure activities like hunting and target shooting in some APAC countries has stimulated the demand for riflescopes. Technological collaborations with Western manufacturers are also driving innovation and growth in the local markets within the APAC region.
Market Segmentation Analysis
- Technology: High preferences for laser riflescopes for excellent precision with their rangefinder capabilities
- Application: Increasing consumer interest in shooting sports and availability of new products across economies
Industry Insights
- Market Disruption Analysis
- Porter's Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Riflescopes Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Riflescopes Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
- Eotech Launches The Vudu X Series Rifle Scopes
- Nightforce Optics Partners with Tactical Brand Ambassadors Kyle Defoor and Bill Rapier
- PARD Launches a New 3-in-1 Clip-on Thermal Rifle Scope - The FT34
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Riflescopes Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Riflescopes Market, highlighting leading vendors and their innovative profiles. These include:
- Aimpoint AB
- ATN Corporation
- BARSKA
- BSA Optics, Inc.
- Burris Company, Inc. by Beretta Holding Group
- Bushnell Corporation by Vista Outdoor Inc.
- Carl Zeiss AG
- Crimson Trace by Smith & Wesson Brands, Inc.
- CVLIFE
- Eotech, LLC
- Hawke Optics Limited
- Leapers, Inc.
- Leica Camera AG
- Leupold & Stevens, Inc.
- Nightforce Optics, Inc.
- Nikon Corporation
- Schmidt & Bender GmbH & Co. KG
- Sig Sauer, Inc.
- Sightmark
- Swarovski-Optik AG & Co. KG
- Teledyne FLIR LLC
- Trijicon, Inc.
- U.S. Optics
- Vanguard World, LLC
- Vertex Optics Inc.
- Zerotech International Pty. Ltd.
Market Segmentation & Coverage
This research report categorizes the Riflescopes Market to forecast the revenues and analyze trends in each of the following sub-markets:
Range
- Long (> 500 yards)
- Medium (100 to 500 yards)
- Short (50 to 100 yards)
Magnification
- 1-8x
- 8-15x
- > 15x
Sight Type
- Reflex
- Telescopic
Function
- Day Sights
- Night Sights
Technology
- Electro-optic/Infrared
- Laser
- Thermal Imaging
Application
- Armed Forces
- Hunting
- Shooting Sports
Region
- Americas
- Asia-Pacific
- Europe, Middle East & Africa
Key Attributes
| Report Attribute | Details |
| No. of Pages | 184 |
| Forecast Period | 2024-2030 |
| Estimated Market Value (USD) in 2024 | $6.94 Billion |
| Forecasted Market Value (USD) by 2030 | $11.83 Billion |
| Compound Annual Growth Rate | 9% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/4944xg
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