Global Riflescopes Market, By Sight Type (Telescopic and Reflex), Technology (Electro Optic, Thermal Imaging/Infrared and Laser), Weapon Compatibility (Sniper Rifles and Automatic Rifles), Function (Day Sights and Night Sights), Range (Short (50 TO 100 Yards), Medium (100 TO 500 Yards) and Long (>500 Yards)), Magnification (1-8X, 8-15X and >15X), Application (Armed Forces, Hunting, Shooting Sports and Others), End Use (Defense and Commercial), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights of Global Riflescopes Market
Data Bridge Market Research analyses that the riflescopes market would exhibit a CAGR of 5.10% for the forecast period. Rising cross border conflicts and terrorist activities and increased spending on defense and military equipment and technologies are the major factors attributable to the growth of riflescopes market. This brings us to the fact that the global riflescopes market value, which was USD 5,756.4 million in 2020, will rocket up to USD 8,569.84 million by 2028.
Riflescopes are telescopic vision devices that are mounted on top of the rifle. The major aim of application of riflescopes is to enhance one’s aim and precision. Riflescopes are used for their magnification property which provides a clearer picture to the human eye. Riflescopes further improve the safety in public by proving précised aim to the human eye. Typically used for long ranges, riflescopes differ in weight owing to their modality.
Rising demand for precision attack technologies has resulted in growth in the demand for riflescopes globally. Rising technological advancements and up gradations in the riflescopes will also create lucrative growth opportunities for the riflescopes market. Rising demand for advanced hunting equipment coupled with increased popularity of shooting sports is also fostering the riflescopes market growth. Growing availability of more technologically advanced riflescope with thermal imaging will further induce growth in the demand for riflescopes. Increased spending by the government on defence and military sector will also propel growth in the demand for riflescopes.
However, stringent regulations imposed by the government on hunting and killing of animals will pose a major challenge to the riflescopes market growth. Also, high costs associated with riflescopes will act as market restraint for this market.
This global riflescopes market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on riflescopes market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Riflescopes Market Scope and Market Size
The global riflescopes market is segmented on the basis of sight type, technology, weapon compatibility, function, range, magnification, application and end use. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- The sight type segment of the riflescopes market is segmented into telescopic and reflex.
- Based on technology, the riflescopes market is segmented into electro optic, thermal imaging/infrared and laser.
- On the basis of weapon compatibility, the riflescopes market is segmented into sniper rifles and automatic rifles.
- Based on function, the riflescopes market is segmented into day sights and night sights.
- On the basis of range, the riflescope market is segmented into short (50 to 100 yards), medium (100 to 500 yards) and long (>500 yards).
- On the basis of magnification, the riflescope market is segmented into 1-8X, 8-15X and >15X.
- On the basis of application, the riflescopes market is segmented into armed forces, hunting and shooting sports.
- Riflescopes market is also segmented on the basis of end use into defense and commercial.
Global Riflescopes Market Country Level Analysis
The global riflescopes market is analysed and market size insights and trends are provided by country, sight type, technology, weapon compatibility, function, range, magnification, application and end use as referenced above.
The countries covered in the riflescopes market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the riflescopes market and will continue to extend its trend of dominance during the forecast period. This is because of the rising adoption of modern war equipment to strengthen the defense sector. Asia-Pacific on the other hand is set to score the highest compound annual growth rate (CAGR) during the forecast period owing to the rising prevalence of terrorism and terrorist activities.
The country section of the riflescopes market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Riflescopes Market Share Analysis
The riflescopes market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to riflescopes market.
The major players covered in the riflescopes market report are Schmidt & Bender GmbH & Co. KG, Walther Arms, INC, Hawke, Leapers, Inc., Safran, NIGHTFORCE OPTICS, VISTA OUTDOOR OPERATIONS LLC, Vortex Optics, BARSKA, HENSOLDT AG, Weaver, SWAROVSKI OPTIK, PULSAR, Bushnell, LEUPOLD & STEVENS, INC., Burris Company, Nikon Inc., Meopta - optika, s.r.o. and Meopta U.S.A., Inc, Trijicon, Inc., and Aimpoint among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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