Riflescopes - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Riflescopes Market is accounted for $6.29 billion in 2018 and is expected to reach $9.26 billion by 2027 growing at a CAGR of 4%. Rising demand for riflescopes for hunting and shooting sports and advancements in riflescope technology for precision attack are likely to boost the growth of the market. However, Ban on hunting is likely to hamper the profit boundaries.
Riflescope is a telescopic vision usually attached on the top of the rifle. Riflescope helps to enhance vision, improve accuracy, increase rifle range, helps in longer shots, and also helps in scoring better at the shooting competition. There are various types of riflescope available in the market depending on the type of shooting; for instance, riflescope used in hunting will be different from the riflescope used in sports and armed forces. Riflescope also differs in weight, need for riflescope magnification also depends on the target size. Manufacturers are developing high-quality of riflescope for various applications. With the focus on technology, manufacturers are launching new riflescopes including various features. For instance, a new rifle has been introduced with an in-built laser range finder to ensure accuracy; it also includes a riflescope with the color graphics display. Similarly, more such innovative technologies are being introduced in the riflescope.
Based on the sight type, the telescopic segment is projected to grow at the high. Telescopic sights are optical telescopes loaded with different forms of graphic image pattern reticles installed in the optical equipment to offer an accurate aiming point. Telescopic riflescopes are expected to have greater market share than reflex due to their existing as well as increasing demand for hunting applications.
Based on geography Asia Pacific riflescopes market is projected to grow at the high. Countries such as China, India, Australia, Japan, and South Korea are considered in this regional market analysis. One of the strongest growth factors for the riflescopes industry in China is the increased defence budget of the country. High domestic production base and increased consumption of assault and sniper rifles by its defence sector are expected to drive the market for riflescopes in China.
Some of the key players in the Riflescopes market include Sig Sauer, Schmidt & Bender GmbH & Co Kg, Primary Arms, Nikon, Nightforce Optics Inc, Leupold & Stevens Inc, Leica Camera, Hensoldt, Hawke Optics, Flir Systems, Eotech, Carl Zeiss AG, Bushnell, Burris Company, BSA Optics and Aimpoint.
Sight Types Covered:
• Electro Optic (Eo/Ir)
• Thermal Imaging
• Short (50 to 100 Yards)
• Medium (100 to 500 Yards)
• Long (>500 Yards)
• Shooting Sports
• Armed Forces
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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