Riflescope Market Size, Share Global Analysis Report, 2020–2026

Industry Insights

According to the report published by Facts Factors, the global riflescope market size was worth around USD 4000 million in 2019 and is predicted to grow to around USD 6000 million by 2026 with a compound annual growth rate (CAGR) of roughly 3% between 2020 and 2026. The report analyzes the global riflescope market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the riflescope market.

This specialized and expertise-oriented industry research report scrutinizes the technical and commercial business outlook of the riflescope industry. The report analyzes and declares the historical and current trends analysis of the riflescope industry and subsequently recommends the projected trends anticipated to be observed in the riflescope market during the upcoming years.

The riflescope market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire riflescope market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of both volume (K Units) and value (USD Million) from FY 2016 – 2026.

Key Insights from Primary Research

• According to primary research, the global riflescope market was valued at more than USD 4,000 million in the year 2019 and is expected to reach around USD 6,000 million by the end of the year 2026.
• Due to increasing demand, the riflescope market is expected to grow in the future years and is anticipated by a CAGR of around 3% during 2020-2026.
• In 2019, telescopic sight recorded the highest sales, with over 10,000 units, and is estimated to grow between 2020-2025.
• The riflescope is primarily used for hunting activities. Hunting application is estimated to increase in market consumption by above CAGR of 3% over the forecast period.
• By technology, the electro-optic/IR riflescope segment has shown massive sales in 2019, it was more than 7,900 units.
• By geography, North America held the largest market share in the global riflescope industry. In 2019, the North American region was valued at more than USD 1,700 million.

Key Recommendations from Analysts

• Our analysts recommend telescopic sight is expected to grow at a significant CAGR in the near future owing to providing better accuracy is one of the major features to boost the demand of this segment in the riflescope market.
• Huge demand for riflescopes in various applications such as hunting, armed force, shooting sports, etc is the key factor that can produce lucrative opportunities in the industry.
• North America and Europe are dominating regions in the global riflescope market. The increasing interest in shooting sports, hunting activities, and soldier modernization programs are some of the major factors boosting the market in these regions.
• Electro-optic/IR and thermal imaging are expected to grow at the highest CAGR during the forecast period due to the high demand from armed forces.
• Many market players are aiming to provide a product with new features such as GPS geotagging, color graphics display, smart rangefinder, etc. can generate opportunities for market expansion.

The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the riflescope industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.

Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the riflescope industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the riflescope market.

The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the riflescope industry. The riflescope market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.

The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the riflescope sector. Key strategic developments in the riflescope market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the riflescope market are appropriately highlighted in the report.

A riflescope is a telescopic vision fixed on the uppermost of a rifle that supports improving one’s target by magnifying and identifying a target. As riflescopes are frequently adaptable in their usage and can be utilized for several purposes, there are some purposes that benefit from some specific characters in a scope.

Riflescopes are primarily categorized into telescopic sight, and reflex sight. Scopes are all about magnification and optics. There are parts of a riflescope body and its function which are important to the accuracy of a scope. Riflescopes have a variety of knobs that serve diverse tasks.

The technological advancements in a riflescope and increasing demand for accuracy for long-distance firing are projecting market growth. Increasing the need for riflescopes for hunting and in sports such as target shooting are some of the factors expected to drive the growth of the market. The increasing requirement for smart weapons, rising asymmetric war, and modernization programs for the soldiers are some of the reasons propelling the market.

The manufacturers are focusing on technology to launch new features in riflescope such as color graphics display, smart rangefinder, GPS geotagging, etc are responsible to drive the riflescope market in the future years. The automated riflescope is designed to minimize the number of adjustment user have to make before use.

Riflescope requires high investment for manufacturing which may lead to slowing down the market’s growth. Increasing demand for hunting applications and the need for military modernization programs are creating lucrative opportunities for the riflescope industry. Additionally, Rising orders for smart riflescopes in shooting sports may create opportunities in the market.

The riflescope market research report delivers an acute valuation and taxonomy of the riflescope industry by practically splitting the market on the basis of different types, technology, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.

Report Scope

Regional Analysis: 

The regional segmentation of the riflescope industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Further, country-wise data for the riflescope industry is provided for the leading economies of the world.

The riflescope market is segmented based on type, technology, and application.  On the basis of type segmentation, the market is classified into telescopic sight, and reflex sight. In terms of technology segmentation, the market is bifurcated into electro-optic/IR, thermal imaging, and laser. On the basis of application segmentation, the market is divided into hunting, armed forces, and shooting sports.

 Some of the essential players operating in the RIFLESCOPE market, but not restricted to include

• Holosun Technologies
• Bushnell
• Leupold
• Burris
• Hensoldt
• Leapers
• Tasco
• Nikon
• Schmidt & Bender
• WALTHER
• Nightforce
• Vortex Optics
• Barska
• BSA Optics
• Swarovski Optik
• Meopta
• Carl Zeiss AG (ZEISS)
• Sightron Inc.
• Sightmark
• Carl Zeiss AG (ZEISS)
• Simmons
• Aimpoint AB
• Gamo Outdoor S.L.U.
• SAM ELECTRICAL EQUIPMENTS (NANTONG) CO. LTD.
• Nantong Universal Optical Instrument
• SIG SAUER
• Other.

The taxonomy of the riflescope market by its scope and segmentation is as follows:

By Type Segmentation Analysis

• Telescopic Sight
• Reflex Sight

By Technology Segmentation Analysis

• Electro-Optic/IR
• Thermal Imaging
• Laser

By Application Segmentation Analysis

• Hunting
• Armed Forces
• Shooting Sports

 By Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • The UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa