Global Riflescope Market By Sight Type (Telescopic, Reflex), Technology (Electro Optic, Thermal Imaging/Infrared, Laser), Application (Hunting, Armed Forces, Shooting Sports), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Riflescope Market
Global Riflescope Market is expected to rise from its initial estimated value of USD 5.83 billion in 2018 to an estimated value of USD 8.19 billion by 2026, registering a CAGR of 4.35% in the forecast period of 2019-2026. Increasing demand of the riflescope in shooting and hunting is major factor for the growth of this market.
Market Definition: Global Riflescope Market
Riflescope is usually equipped on the top of the rifle and is used to improve the aim or target by magnifying it. They are usually used in hunting and shooting activities. They are used in all types of activities that require exact aiming. They also increase safety as one can see the clear view of the object from long distance. Increasing hunting and shooting activity is the major factor fuelling the market.
- Increasing demand of riflescope by hunters is driving the growth of this market.
- Availability of new and advanced types of riflescope is driving the market.
- Prohibition on hunting is the major factor restraining the growth of this market.
- High prices of the riflescope is the another factor restraining the market growth.
Segmentation: Global Riflescope Market
- By Sight Type
- By Technology
- Electro Optic
- Thermal Imaging/Infrared
- By Application
- Armed Forces
- Shooting Sports
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Key Developments in the Market:
- In December 2018, German Precision Optics announced the launch of their Passion 4X premium riflescope series which has three models- 6-24×50, 3-12x56I or 3-12×56. These scopes have double HD glass and also have bright lens coatings. These new scopes have features like dust and water resistance and have nitrogen filled body. These are very useful for the long range shooting.
- In July 2015, Swarovski announced the launch of their new X5 Long-Range Riflescope which is designed with long range shooting feature. For more clear view this riflescope is equipped with optical lens and is made with stainless steel so that it can be used even in harsh environment. They are specially designed so that they can meet the needs and requirement of their customers.
Competitive Analysis: Global Riflescope Market
Global riflescope market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of riflescope market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors/Players: Global Riflescope Market
Few of the major competitors currently working in riflescope market are Bushnell, LEUPOLD & STEVENS, INC., Burris Company, Nikon Corporation, Schmidt & Bender GmbH & Co. KG, Walther Arms, INC, Hawke, Nightforce Optics, Inc., HENSOLDT, Vortex Optics, Barska, Aimpoint, Leapers, Inc., VISTA OUTDOOR OPERATIONS LLC, SWAROVSKI OPTIK, Weaver, Meopta - optika, s.r.o. and Meopta U.S.A., Inc, Krauss-Maffei Wegmann, Safran, Oshkosh Corporation, Navistar, Inc., Rafael Advanced Defense Systems Ltd.
Research Methodology: Global Riflescope Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved